FCPT acquires LongHorn Steakhouse property for $2.5 million

6 hours ago 1

Four Corners Property Trust (NYSE:FCPT) has acquired a LongHorn Steakhouse property for $2.5M.
The property is located in a highly trafficked corridor in Michigan and is corporate-operated under a long term, triple net lease with about seven years of term remaining.
The transaction was priced at a 6.5% cap rate on rent as of the closing date and exclusive of transaction costs, the company said.
Source: Press Release

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