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Subjects: Contract/Agreement, Product/Service, Merger/Acquisition

FCPT Announces 2020 Acquisition Volume and Sale-Leaseback of a Chili's Restaurant Property for $2.9 million


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 for $2.9 million via a sale-leaseback transaction. The property is located in a strong retail corridor in South Carolina and is occupied under a new triple net lease by a franchisee operator with 20 years of term remaining. The transaction was priced at a 6.5% going-in cash capitalization rate, exclusive of transaction costs.

Including today's acquisitions, in 2020 FCPT completed real estate acquisitions of 101 properties for a total investment of $222.7 million, 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.



News published on 31 december 2020 at 17:35 and distributed by: