Market Overview

FCPT Announces Acquisition of Two Properties from PREIT for $7.6 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 two properties for $7.6 million as part of a previously announced outparcel transaction with PREIT (NYSE:PEI). The properties are an IHOP and a multi-tenant BJ's Restaurant, Sleep Number, and Verizon. The properties are located in Maryland and South Carolina and are occupied under net leases with a weighted average 7 years of term remaining. Three of the four tenants are the respective corporate operators with Victra, an authorized retailer with over 1,000 locations across 46 states, as the Verizon tenant. The transaction is the fifth and final closing of the previously announced PREIT portfolio transaction in November, priced at a 6.5% going-in cash cap rate, on a portfolio basis, 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 for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at