Business Wire | Aug 25, 2021 06:09PM EDT

FCPT Announces Acquisition of a Tires Plus Portfolio for $12.9 Million

Aug. 25, 2021

MILL VALLEY, Calif.--(BUSINESS WIRE)--Aug. 25, 2021--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 ("FCPT" or the "Company"), is pleased to announce the acquisition of eight Tires Plus properties for $12.9 million. The properties are located in strong retail corridors in Georgia and are corporate-operated under net leases. The transaction was priced at a cap rate in range with previous FCPT transactions.

Inclusive of this transaction, FCPT has now invested over $1 billion in high-quality net-leased real estate, diversifying and growing the portfolio since the firm's first property acquisition in July 2016.

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 www.fcpt.com.

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CONTACT: Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO

CONTACT: Gerry Morgan, 415-965-8032 CFO