FCPT Announces Acquisition of a Longhorn Restaurant Property From Brookfield Properties for $2.0 Million

The property is an outparcel to a Brookfield owned mall located in Maryland and is occupied under a triple-net lease with approximately 3 years of term remaining

Oct 22, 2019 - 11:36

Four Corners Property Trust (NYSE:FCPT announced the acquisition of a Longhorn restaurant property for $2.0 million from Brookfield Properties. The property is an outparcel to a Brookfield owned mall located in Maryland and is occupied under a triple-net lease with approximately 3 years of term remaining. The transaction is a continuation of the 6-property acquisition closed in November 2018 and was priced at a similar going-in cash capitalization rate as previously announced transactions.

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.