FCPT Announces Acquisition of a Wendy's Restaurant for $2.0 Million

Business Wire 26-Jun-2019 4:05 PM

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust engaged in the ownership of high-quality, net-leased restaurant properties ("FCPT" or the "Company"), is pleased to announce the acquisition of a Wendy's restaurant for $2.0 million. The property is located in Ohio and is leased to MUY! Hamburger Partners (operator of 312 Wendy's locations) under a triple-net lease with approximately 7 years of term remaining. The tenant is a subsidiary of MUY! Companies, which also operates 364 Pizza Hut and 79 Taco Bell restaurants, making it the fifth largest domestic franchisee by sales. The transaction was priced at a 6.5% going-in cash cap rate, exclusive of transaction costs.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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 related food services industry. Additional information about FCPT can be found on the website at http://www.fcpt.com/.

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