FCPT Announces Acquisition of a Krystal Restaurant Property for $1.1 million
Four Corners Property Trust (NYSE:FCPT), a real estate investment trust engaged in the ownership of high-quality, net-leased restaurant properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a corporate-operated Krystal restaurant property for $1.1 million via a sale and leaseback transaction. The property is located in Alabama and is occupied under a triple-net lease with a fifteen-year term. The transaction was priced at a 6.65% going-in cash cap rate, exclusive of transaction costs.
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.
Bill Lenehan, 415-965-8031
Gerry Morgan, 415-965-8032
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