FCPT Announces Acquisition of a BJ’s Restaurant and Brewhouse Property and a Longhorn Steakhouse Property From Brookfield Properties for $4.8 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 BJ’s Restaurant and Brewhouse property and a LongHorn Steakhouse property for $4.8 million from Brookfield Properties. The properties are located in a strong retail corridor in Pennsylvania and are corporate-operated under triple net leases with a blended eight years of term. This transaction was priced at a capitalization rate consistent with previous FCPT transactions.
About FCPT
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. 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.
Category: Acquisition
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Contact
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO
