FCPT Closes Arby’s Restaurant Property From Washington Prime Transaction for $1.2 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”), closed on the purchase an Arby’s restaurant property today from Washington Prime Group Inc. (“WPG”) for $1.2 million. The property is located in Indiana and is occupied under a triple-net ground lease with a remaining term of approximately 10 years. The transaction was priced at a capitalization rate consistent with our investment thresholds and past transactions.
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 for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
Gerry Morgan, 415-965-8032
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