FCPT Announces Agreement to Acquire up to 48 Chili’s Restaurant Properties for up to $155.7 Million

Learn more about FCPT’s agreement to acquire up to 48 Chili’s in the article below!

” 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”), is pleased to announce the signing of a definitive agreement to acquire up to 48 corporate-operated Chili’s restaurants through a sale-leaseback transaction with certain subsidiaries of Brinker International, Inc. (NYSE: EAT) for a purchase price of up to $155.7 million on initial annual cash rent of up to approximately $9.9 million. As of the end of Brinker’s third fiscal quarter on March 28, 2018, Brinker owned, operated or franchised 1,686 restaurants under the names Chili’s® Grill & Bar (1,634 restaurants) and Maggiano’s Little Italy® (52 restaurants).

Read Full Article at RestaurantNews.com

August 2, 2018|Press Features|

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