Business Wire | Mar 1, 2021 07:28PM EST

FCPT Announces Acquisition of a Chili's Restaurant Property for $3.2 million

Mar. 02, 2021

MILL VALLEY, Calif.--(BUSINESS WIRE)--Mar. 02, 2021--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 for $3.2 million. The property is located in a strong retail corridor in Georgia and will be occupied under a new triple net lease by a franchisee operator with 20 years of term remaining and with annual rent increases of 1.5%. The transaction was priced at a 6.5% going-in cash 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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CONTACT: Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO Gerry Morgan, 415-965-8032 CFO