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FCPT Buys Six Red Lobster Restaurant Properties for $25.9M

VEREIT Divests 46,000-SF Portfolio Across Six States
By Taylor Peirce
CoStar Research
January 17, 2019 | 1:00 P.M.

Mill Valley, California-based owner of restaurant real estate Four Corners Property Trust Inc. (NYSE: FCPT) purchased a bulk portfolio of six net-leased Red Lobster properties for $25.9 million, or about $562 per square foot, from VEREIT Real Estate LP (NYSE: VER), a diversified real estate operating company headquartered in Phoenix.

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