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FCPT Acquires Indiana-Based Chick-fil-A Property from Washington Prime Group for USD2.1 m
Monday 21 September 2020

California-based restaurant-focussed REIT Four Corners Property Trust (NYSE: FCPT) has acquired a Chick-fil-A restaurant property located in Indiana for USD 2.1m Washington Prime Group, the company said.

The property is under a triple-net lease to the brand's corporate entity with a lease term of approximately six years remaining.

The Washington Prime portfolio was priced at a capitalisation rate consistent with FCPT's investment thresholds and past transactions.

FCPT has acquired a total of 48 properties for USD 77.7m from Washington Prime Group.

FCPT is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties.
Date Published: 21/09/2020