FCPT Announces Acquisition of a Popeyes and a Bojangles Property for $4.6 Million

·1 min read

MILL VALLEY, Calif., August 05, 2021--(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 a Popeyes property and a Bojangles property for $4.6 million. The properties are both located in North Carolina and are occupied under long-term, triple net leases with a weighted average of 15 years of term remaining. The transaction was priced at a 6.3% weighted average cap rate on rent today, exclusive of transaction costs.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210805006140/en/

Contacts

Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO

Gerry Morgan, 415-965-8032
CFO

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting