Saturday, November 23, 2024
spot_img
spot_img
HomeNewsBusiness WireFCPT Announces Acquisition of a Torchy’s Tacos Property from Seritage Transaction for...

FCPT Announces Acquisition of a Torchy’s Tacos Property from Seritage Transaction for $2.2 Million

MILL VALLEY, Calif.–(BUSINESS WIRE)–Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Torchy’s Tacos property for $2.2 million from the Seritage transaction previously announced in October 2019 and expanded in August 2020. The property is located in a strong retail corridor in Florida and is corporate-operated under a triple net lease with approximately 6 years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.

Inclusive of today’s transaction, FCPT has acquired a total of 26 properties for $78.2 million from Seritage.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail 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.

Contacts

Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Gerry Morgan, 415-965-8032

CFO

spot_img
RELATED ARTICLES
spot_img
spot_img
spot_img

Caribbean News

ILO – Suriname’s discusses just transition progress

PARAMARIBO, Suriname, (ILO News) - Advancements towards strengthening entrepreneurship, formalization and a just transition for the benefit of workers and businesses in Suriname was...

Global News

G20 economies should target reforms to boost medium-term growth prospects

By Paula Beltran Saavedra, Nicolas Fernandez-Arias, Chanpheng Fizzarotti, and Alberto Musso For most Group of Twenty economies, growth is poised to weaken over the next five years...