UK markets closed
  • FTSE 100

    6,944.02
    -83.46 (-1.19%)
     
  • FTSE 250

    23,658.94
    +26.10 (+0.11%)
     
  • AIM

    1,276.53
    +4.39 (+0.35%)
     
  • GBP/EUR

    1.1722
    +0.0004 (+0.04%)
     
  • GBP/USD

    1.3756
    -0.0041 (-0.30%)
     
  • BTC-GBP

    34,533.62
    -547.22 (-1.56%)
     
  • CMC Crypto 200

    1,206.45
    -19.09 (-1.56%)
     
  • S&P 500

    4,441.14
    -32.61 (-0.73%)
     
  • DOW

    34,581.85
    -169.47 (-0.49%)
     
  • CRUDE OIL

    71.62
    -0.99 (-1.36%)
     
  • GOLD FUTURES

    1,755.30
    -1.40 (-0.08%)
     
  • NIKKEI 225

    30,500.05
    +176.71 (+0.58%)
     
  • HANG SENG

    24,920.76
    +252.91 (+1.03%)
     
  • DAX

    15,490.17
    -161.58 (-1.03%)
     
  • CAC 40

    6,570.19
    -52.40 (-0.79%)
     

FCPT Announces Sale Leaseback of Eight Sonic Drive-In Properties for $10.6 Million

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

MILL VALLEY, Calif., July 30, 2021--(BUSINESS WIRE)--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 eight Sonic Drive-In properties for $10.6 million via a sale-leaseback transaction. The properties are located in Kentucky and are occupied under a triple net master lease to Soar QSR, a Sonic franchisee and subsidiary of CMG Companies, one of the largest multi-unit franchise operators in the United States, with 20 years of term and 1.5% annual rent increases. The transaction was priced at a 6.2% going-in cash capitalization rate, 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, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210730005592/en/

Contacts

Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO

Gerry Morgan, 415-965-8032
CFO

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting