MILL VALLEY, Calif.–(BUSINESS WIRE)–Four Corners Property Trust, a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties, is pleased to announce the acquisition of a Popeyes property and a Bojangles property for $4.6 million. The properties are both located in North Carolina and are occupied under long-term, triple net leases with a weighted average of 15 years of term remaining. The transaction was priced at a 6.3% weighted average cap rate on rent today, exclusive of transaction costs.
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, 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.
