FCPT Announces Acquisition of Two Arby’s Properties for $3.4 Million
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, announced the acquisition of two Arby’s properties for $3.4 million. The properties are located in strong retail corridors in Indiana and Kentucky and corporate-operated under long-term, triple net leases with approximately seven years of term remaining. The transaction was priced at a 6.8% cap rate on rent as of the closing date and exclusive of transaction costs.
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.
Categories: Development