FCPT Announces Acquisition of Three Mo’Bettahs Properties for $6.6 Million
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 three Mo’Bettahs properties for $6.6 million. Established in 2008, Mo’Bettahs is a Hawaiian-style quick service restaurant backed by Savory Brands. The properties are newly constructed and located in strong retail corridors in Kansas, Missouri, and Oklahoma and are occupied under a long-term, triple net lease with approximately 15 years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.
About FCPT
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail 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.
Contacts
Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Gerry Morgan, 415-965-8032
CFO
