Four Corners Property announces the acquisition of nine Burger King properties for $19.9 million from Ampler Restaurant Group via sale-leaseback. The properties are located in strong retail corridors in Tennessee and are franchisee-operated under long-term, triple net leases with 20 years of term. The transaction was priced at a 6.8% cap rate on rent as of the closing date and exclusive of transaction costs.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FCPT:
- Four Corners Property Trust announces acquisition of six Whataburger properties
- Four Corners Property Expands Portfolio with New Acquisitions
- Four Corners Property Trust price target raised to $31 from $30 at Wells Fargo
- FCPT Reports Strong Q4 2024 Financial Performance
- Four Corners Property Trust: Strong 2024 Earnings Call Highlights