Four Corners Property Trust is adding 19 restaurants of Bloomin' Brands to its real estate portfolio for $66.4 million.
Most of the acquired properties are located in Sunbelt states – with the lone exception being Pennsylvania. The others are in Arizona, Florida, Georgia, Kentucky, Louisiana, North Carolina, South Carolina, Tennessee, and Nevada.
Before the sale, Bloomin' Brands owned 10 Outback Steakhouses and 10 Carrabba's Italian Grill restaurants. It's unclear if Four Corners will take full equity in all of Bloomin's Carrabba's or all Outback eateries – since it acquired all but one.
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