Four Corners Property Trust, a REIT primarily engaged in the ownership of high-quality, net-leased restaurant properties, has closed on the acquisition of an Olive Garden restaurant from Washington Prime Group for $3.2 million.
The property is located in Illinois and is leased to Darden Restaurants under a triple-net lease with more than 10 years of term remaining.
The Washington Prime portfolio was priced at a capitalization rate consistent with FCPT's investment thresholds and past transactions.
