Four Corners Property Trust Announces Acquisition Of An Olive Garden Property For $3.4M
Portfolio Pulse from Benzinga Newsdesk
Four Corners Property Trust (FCPT) has acquired an Olive Garden property in Indiana for $3.4M. The property is corporate-operated under a long-term, triple net lease with approximately nine 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.
June 27, 2023 | 9:51 pm
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FCPT's acquisition of the Olive Garden property could potentially increase its revenue stream due to the long-term lease agreement. The transaction was also made at a 6.5% cap rate, which could indicate a profitable investment.
The acquisition of the Olive Garden property by FCPT could potentially increase its revenue stream due to the long-term lease agreement. This could positively impact the company's financial performance and thus its stock price. The transaction was also made at a 6.5% cap rate, which could indicate a profitable investment, further boosting investor confidence.
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