LongHorn Steakhouse

FCPT Announces Closing of Second Tranche (Three Properties) of Seritage Transaction for $11.3 Million

Tuesday, June 30, 2020 - 11:34pm

The properties are located in Florida within highly trafficked and populated corridors with one property leased to Olive Garden and two properties leased to LongHorn Steakhouse.

Key Points: 
  • The properties are located in Florida within highly trafficked and populated corridors with one property leased to Olive Garden and two properties leased to LongHorn Steakhouse.
  • Inclusive of todays acquisition, FCPT has acquired a total of 13 properties for $43 million under the Seritage transaction to date.
  • The Seritage portfolio transaction was priced at a cap rate in range with previous FCPT transactions.
  • FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties.