FCPT Acquires Properties Through Sale-Leaseback, Diversifies Portfolio

Four Corners Property Trust (FCPT) recently announced the purchase of nine Burger King properties through a sale-leaseback for $19.9 million from Ampler Restaurant Group. The move highlights FCPT's efforts to diversify and improve its portfolio quality through acquisitions. The properties are located in the strong retail corridors in Tennessee. Priced at a 6.8% cap rate on rent as of the closing date, exclusive of transaction costs, the properties are franchise-operated under long-term, triple-net leases, w ...