Tuesday, June 25, 2024
spot_img
HomeNewsBusiness WireFCPT Announces Acquisition of an Outback Steakhouse Property from Brookfield Properties for...

FCPT Announces Acquisition of an Outback Steakhouse Property from Brookfield Properties for $1.9 Million

MILL VALLEY, Calif.–(BUSINESS WIRE)–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 an Outback Steakhouse property for $1.9 million from a previously announced Brookfield Properties transaction. The property is located in a strong retail corridor in Washington and is franchisee-operated under a triple net lease with approximately three years of term remaining. The Brookfield Properties portfolio was priced at a capitalization rate consistent with previous FCPT transactions.

Inclusive of today’s acquisition, FCPT has acquired a total of 19 properties for $35 million related to the Brookfield portfolio announced in October 2019.

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.

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

United States establishes economic diplomacy action group to bolster US competitiveness

By Caribbean News Global WASHINGTON, USA - Last week, President Biden signed a Presidential Memorandum establishing the Economic Diplomacy Action Group (EDAG), a new...

Global News

Africa offers attractive investment opportunities for Japanese firms, says ADB leaders

JAPAN / AFRICA - Africa presents a compelling investment destination for Japanese firms, with high growth potential and the African Development Bank's strong support...