FCPT Announces Acquisition of 19 Bloomin’ Brands Restaurant Properties for $66.4 Million
Four Corners Property Trust, Inc. (FCPT)
Last four corners property trust, inc. earnings: 2/12 04:05 pm
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Source: Business Wire
MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of 19 Bloomin’ Brands restaurant properties comprising of 20 total restaurants (10 Outback Steakhouse restaurants and 10 Carrabba’s Italian Grill restaurants, including one dual-tenant property with both concepts) for a purchase price of $66.4 million. The 19 properties are located across 10 states (AZ, FL, GA, KY, LA, NC, NV, PA, SC, and TN). The sites are in strong retail corridors with high traffic and attractive demographics. The properties are under two long-term master leases of ten restaurants each and leased to corporate Bloomin’ Brands entities. The transaction was priced at cap rate in range with previous FCPT transactions.As of the closing date, Bloomin’ Brands is now FCPT’s third larges
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FCPT
News
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FCPT
Earnings
- 10/30/24 - In-Line
FCPT
Sec Filings
- 11/12/24 - Form SC
- 11/8/24 - Form SC
- 10/31/24 - Form 10-Q
- FCPT's page on the SEC website