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MILL VALLEY, CA—Four Corners Property Trust has closed on thefirst tranche of its $67.9 million deal with Seritage GrowthProperties, which it announced earlier this year.

All together, the restaurant net lease REIT is buying 23outparcel properties that have 26 leases from Seritage GrowthProperties.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.