Four Corners Property Trust Inc. (FCPT), a real estate investment trust specializing in net-leased restaurant and retail properties, has acquired a LongHorn Steakhouse property in Michigan for $2.5 million. The property is situated in a high-traffic area and is corporate-operated under a long-term, triple net lease, with approximately seven years remaining. The acquisition was completed at a 6.5% cap rate, not including transaction costs.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. FCPT - Four Corners Property Trust Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250709218383) on July 09, 2025, and is solely responsible for the information contained therein.