Business Wire | Dec 20, 2021 07:14PM EST

FCPT Announces Acquisition of Three Bank Properties for $5.4 Million

Dec. 21, 2021

MILL VALLEY, Calif.--(BUSINESS WIRE)--Dec. 21, 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 three publicly-traded, investment grade bank properties for $5.4 million. The properties are located in highly trafficked corridors in Illinois and are corporate-operated under triple net leases with 9 years of term remaining and annual rent increases of 1.5%. The transaction was priced at a weighted average 6.5% going-in capitalization rate, 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 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