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FCPT Announces Acquisition of a Two Property Portfolio for $2.7 Million

·1 min read

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties ("FCPT" or the "Company"), is pleased to announce the acquisition of a Chili’s restaurant property and a Monro Auto Service and Tire Center property for $2.7 million. The properties are located in a strong retail corridor in New York and are both corporate-operated under triple net ground leases with approximately four years of weighted average term remaining. The transaction was priced at a 7.0% capitalization rate, exclusive of transaction costs.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210610005955/en/

Contacts

Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO

Gerry Morgan, 415-965-8032
CFO