Business Wire | Dec 22, 2021 04:58PM EST

FCPT Announces Sale Leaseback of an Olive Garden Property for $4.2 Million

Dec. 22, 2021

MILL VALLEY, Calif.--(BUSINESS WIRE)--Dec. 22, 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 an Olive Garden property for $4.2 million from Darden Restaurants via a sale-leaseback. The property is located in a dense retail corridor in Pennsylvania and is under a triple-net lease with ten years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.

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 Gerry Morgan, 415-965-8032 CFO