Four Corners Property Trust Inc
FCPT Announces Acquisition of an Additional Krystal Restaurant Property for $1.4 Million (Businesswire)
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 corporate-operated Krystal restaurant property for $1.4 million via a sale and leaseback transaction. The property is located in Alabama and is occupied under a triple-net lease with a fifteen-year term. The transaction is the third of a three-property transaction and was priced at a capitalization rate consistent with our previous acquisitions of similar restaurants.
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 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/20191011005538/en/
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Gerry Morgan, 415-965-8032
CFO