FCPT Announces Acquisition Of A Taco Bell Property For $2.2M
Portfolio Pulse from Benzinga Newsdesk
Four Corners Property Trust (NYSE:FCPT) has acquired a Taco Bell property for $2.2 million. The property is located in Oklahoma and is operated under a triple net lease to K-MAC Enterprises, with about five years of term remaining. The transaction was priced at a 7.3% cap rate on rent.
November 08, 2023 | 10:12 pm
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FCPT's acquisition of a Taco Bell property for $2.2 million could potentially increase its asset base and generate steady rental income.
The acquisition of the Taco Bell property by FCPT could potentially increase its asset base and generate steady rental income, which could positively impact its financial performance and stock price in the short term.
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