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FCPT closes eight more property sales under WPG deal

Published 01/18/2019, 05:02 PM
© Reuters.  FCPT closes eight more property sales under WPG deal
WPG
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FCPT
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  • Four Corners Property Trust (NYSE:FCPT) closes on the purchase of eight more restaurant properties from Washington Prime Group (NYSE:WPG) for $9.4M.
  • Price represents a capitalization rate consistent with our investment thresholds and past transactions. The leases have a current weighted average remaining term of approximately 8.5 years.
  • It's the sixth closing of the acquisition announced in September 2017 with 28 properties now closed for about $42M; the remaining closings are expected to be completed through the rest of 2019.
  • Previously: FCPT announces acquisition of a property for $2.5M (Dec. 31, 2018)
  • Now read: Is There A Margin Of Safety In Washington Prime?


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