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FCPT Announces Acquisition of a LongHorn Steakhouse Property for $2.5 Million

MILL VALLEY, Calif.--(BUSINESS WIRE)-- Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (鈥淔CPT鈥� or the 鈥淐ompany鈥�), is pleased to announce the acquisition of a LongHorn Steakhouse property for $2.5 million. The property is located in a highly trafficked corridor in Michigan and is corporate-operated under a long term, triple net lease with approximately seven years of term remaining. The transaction was priced at a 6.5% cap rate on rent as of the closing date and exclusive of transaction costs.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at .

Category: Acquisition

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Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO



Patrick Wernig, 415-965-8038

CFO

Source: Four Corners Property Trust