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Four Corners Property Trust Acquires 2 Buffalo Wild Wings Restaurants for USD 6.6m
Friday 12 January 2018

12 January 2018 - California, US-based real estate investment trust Four Corners Property Trust (NYSE: FCPT) has acquired two Illinois, US-based Buffalo Wild Wings restaurant properties leased to World Wide Wings for USD 6.6m, the company said.
World Wide Wings is a Buffalo Wild Wings franchisee with over 65 units.
The properties are occupied under separate triple-net leases with approximately 14 years of term remaining and a rent escalation of 2.0% annualised. The transaction was priced at a 6.6% going-in cash cap rate, exclusive of transaction costs.
FCPT is primarily engaged in the acquisition and leasing of high-quality, net-leased restaurant 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 related food services industry.
Details
Date Published: 12/01/2018
Target: Two Buffalo Wild Wings restaurant properties
Country: USA
Deal Size: 6.6m (USD)
Sector: Construction/Real Estate
Type: LBO
Financing: Cash
Status: Closed
Vendor:
Buyer: Four Corners Property Trust
Comment:


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