FCPT Announces Acquisition of an Additional Krystal Restaurant Property for $1.4 Million

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.

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Provider: 
Business Wire, Inc.
Retrieved on: 
Friday, October 11, 2019
Information
Tags: 
Retail, Restaurant, Bar, Commercial Building & Real Estate, Construction & Property, REIT, Economy, Contract law, Leaseback, Leasing, Sales, Real estate investing
Geotags: 
United States, California, ALABAMA
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FCPT
Summary
Key Points: 
  • 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.
  • 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.


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.

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