FCPT Announces Acquisition of a Two Property Portfolio for $2.7 Million

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a Chili’s restaurant property and a Monro Auto Service and Tire Center property for $2.7 million. The properties are located in a strong retail corridor in New York and are both corporate-operated under triple net ground leases with approximately four years of weighted average term remaining. The transaction was priced at a 7.0% capitalization rate, exclusive of transaction costs.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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 www.fcpt.com.

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FAQ

What properties did FCPT acquire?

FCPT acquired a Chili's restaurant and a Monro Auto Service and Tire Center.

What was the value of the acquisition by FCPT?

The total value of the acquisition was $2.7 million.

Where are the acquired properties located?

The properties are located in a strong retail corridor in New York.

What is the capitalization rate for this acquisition?

The acquisition was priced at a 7.0% capitalization rate.

How long is the remaining lease term for the acquired properties?

The properties have approximately four years of weighted average lease term remaining.