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FCPT Acquires Georgia Chili´s Restaurant Property for USD 3.2m
Wednesday 03 March 2021

California-based real estate investment trust Four Corners Property Trust (NYSE: FCPT) has acquired a Chili's restaurant property in Georgia for USD 3.2m, the company said.

The transaction was priced at a 6.5% going-in cash capitalisation rate, exclusive of transaction costs. Terms were not disclosed.

The property will be occupied under a new triple net lease by a franchisee operator with 20 years of term remaining and with annual rent increases of 1.5%.

FCPT is primarily engaged in the acquisition and leasing of restaurant properties.
Date Published: 03/03/2021