Four Corners Property Trust Announces Disposition Of A Red Lobster Property For $5.3M
Portfolio Pulse from Benzinga Newsdesk
Four Corners Property Trust (FCPT) has announced the sale of a Red Lobster property located in Delaware for $5.3M. The property is corporate-operated under a triple net lease.
September 28, 2023 | 9:50 pm
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POSITIVE IMPACT
The sale of the Red Lobster property could potentially increase FCPT's liquidity and reduce its exposure to a single tenant.
The sale of the property could increase FCPT's cash reserves, providing more flexibility for future investments or debt repayments. Additionally, by selling the property, FCPT reduces its exposure to the financial performance of a single tenant, potentially reducing risk.
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