FCPT agrees to acquire up to 14 Darden restaurant properties for $85M

Four Corners Property Trust, Inc.

Purchase price up to $85.0M; initial cash rent of ~$5.35M.
Properties: 13 Cheddar's Scratch Kitchen and 1 Olive Garden, triple net leased with Darden corporate guaranty.
Annual rent increases of 1.5%; portfolio weighted average lease term of 13 years.
Expected close in Q3 2023, subject to due diligence and customary conditions.
Properties located in TN (7), IN (3), KY (3), and OH (1); high-traffic retail corridors.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.