FCPT Announces Acquisition of an Applebee's Property for $4.3 Million | FCPT Stock News
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Four Corners Property Trust (FCPT) has acquired an Applebee's property in California for $4.3 million. The property is franchisee-operated by Flynn Group under a triple net lease with about seven years remaining. The acquisition was priced at a 6.2% cap rate on base rent and a 7.4% cap rate including estimated percentage rent. FCPT is a real estate investment trust focused on restaurant and retail properties.
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