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FCPT Announces Acquisition of an Outback Steakhouse Property for $1.6 Million

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Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of an Outback Steakhouse property for $1.6 million. The property, situated in a strong retail corridor in Oklahoma, is corporate-operated under a triple net lease with approximately four years remaining on the term. The transaction was structured at a 6.8% cap rate on rent as of the closing date, excluding transaction costs.

Four Corners Property Trust (NYSE:FCPT) ha annunciato l'acquisizione di una proprietà Outback Steakhouse per 1,6 milioni di dollari. L'immobile, situato in un importante corridoio commerciale dell'Oklahoma, è gestito direttamente dall'azienda con un contratto di locazione triple net che prevede circa quattro anni di durata residua. L'operazione è stata strutturata con un tasso di capitalizzazione del 6,8% basato sull'affitto alla data di chiusura, esclusi i costi di transazione.

Four Corners Property Trust (NYSE:FCPT) ha anunciado la adquisición de una propiedad de Outback Steakhouse por 1,6 millones de dólares. La propiedad, ubicada en un corredor comercial sólido en Oklahoma, está operada directamente por la empresa bajo un contrato de arrendamiento triple neto con aproximadamente cuatro años restantes de vigencia. La transacción se estructuró con una tasa de capitalización del 6,8% sobre la renta a la fecha de cierre, excluyendo los costos de la transacción.

Four Corners Property Trust (NYSE:FCPT)1.6백만 달러Outback Steakhouse 부동산을 인수했다고 발표했습니다. 이 부동산은 오클라호마의 주요 상업 지구에 위치해 있으며, 약 4년의 잔여 기간이 남은 트리플 넷 리스(triple net lease) 계약 하에 회사가 직접 운영하고 있습니다. 이번 거래는 거래 비용을 제외한 마감일 기준 임대료에 대해 6.8%의 자본환원율(cap rate)로 구조화되었습니다.

Four Corners Property Trust (NYSE:FCPT) a annoncé l'acquisition d'une propriété Outback Steakhouse pour 1,6 million de dollars. La propriété, située dans un corridor commercial dynamique de l'Oklahoma, est exploitée par l'entreprise sous un bail triple net avec environ quatre années restantes sur la durée. La transaction a été structurée avec un taux de capitalisation de 6,8% sur le loyer à la date de clôture, hors frais de transaction.

Four Corners Property Trust (NYSE:FCPT) hat den Erwerb einer Outback Steakhouse-Immobilie für 1,6 Millionen US-Dollar bekannt gegeben. Die Immobilie befindet sich in einem starken Einzelhandelskorridor in Oklahoma und wird vom Unternehmen selbst im Rahmen eines Triple-Net-Leasingvertrags betrieben, der noch etwa vier Jahre läuft. Die Transaktion wurde mit einer Kapitalisierungsrate von 6,8% auf die Miete zum Zeitpunkt des Abschlusses strukturiert, ohne Transaktionskosten.

Positive
  • Property located in strong retail corridor
  • Triple net lease structure reduces operating expenses
  • 6.8% cap rate provides immediate yield
Negative
  • Relatively short remaining lease term of only 4 years
  • Small transaction size of $1.6M limits impact on portfolio growth

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 an Outback Steakhouse property for $1.6 million. The property is located in a strong retail corridor in Oklahoma and is corporate-operated under a triple net lease with approximately four years of term remaining. The transaction was priced at a 6.8% cap rate on rent as of the closing date and exclusive of transaction costs.

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.

Category: Acquisition

Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Patrick Wernig, 415-965-8038

CFO

Source: Four Corners Property Trust

FAQ

What is the value of FCPT's recent Outback Steakhouse property acquisition?

FCPT acquired the Outback Steakhouse property for $1.6 million.

What is the cap rate for FCPT's Oklahoma Outback Steakhouse acquisition?

The transaction was priced at a 6.8% cap rate on rent as of the closing date, exclusive of transaction costs.

How long is the remaining lease term on FCPT's newly acquired Outback Steakhouse property?

The property has approximately four years of term remaining on its triple net lease.

Where is FCPT's newly acquired Outback Steakhouse property located?

The property is located in a strong retail corridor in Oklahoma.
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2.75B
98.56M
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REIT - Retail
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United States
MILL VALLEY