MILL VALLEY - Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties ('FCPT' or the 'Company'), is pleased to announce the acquisition of a Fogo de Chao property for $5.7 million.
Fogo de Chao is a casual dining Brazilian steakhouse concept with over 90 locations across 27 U.S. states and more than 20 additional international locations. The property is located in a strong retail corridor in Illinois and is corporate-operated under a long term, net lease with approximately 14 years of term remaining. The transaction was priced at a 7.0% cap rate on rent as of the closing date and exclusive of transaction costs.
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.
Contact:
Bill Lenehan
Tel: 415-965-8031
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