FCPT Announces Acquisition of a Longhorn Restaurant Property From Brookfield Properties for $2.0 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 Longhorn restaurant property for $2.0 million from Brookfield Properties. The property is an outparcel to a Brookfield owned mall located in Maryland and is occupied under a triple-net lease with approximately 3 years of term remaining. The transaction is a continuation of the 6-property acquisition closed in November 2018 and was priced at a similar going-in cash capitalization rate as previously announced 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20191021005859/en/