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Stock impact report

FCPT Closes First Tranche (10 Restaurant Properties) of Washington Prime Transaction

Four Corners Property Trust, Inc. (FCPT) 
Last four corners property trust, inc. earnings: 2/12 04:05 pm Check Earnings Report
Company Research Source: Business Wire
MILL VALLEY, Calif.--(BUSINESS WIRE)-- 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”), closed on the purchase of ten restaurant properties today from Washington Prime Group Inc. (“WPG”). This is the first of two tranches in the forty-one property acquisition announced in September 2017. Closing of the thirty-one remaining properties in the second tranche is expected to be completed by the end of the second quarter of 2018, subject to remaining due diligence and customary closing conditions. The purchase price for the first tranche was approximately $13.8 million and represents a capitalization rate consistent with our investment thresholds and past transactions. The leases have a current weighted average remaining term of approximately 7.5 years. Four of the ten properties are gro Show less Read more
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