Business Wire | Sep 24, 2020 04:05PM EDT

FCPT Announces Acquisition of a Caliber Collision Property for $3.0 Million

Sep. 24, 2020

MILL VALLEY, Calif.--(BUSINESS WIRE)--Sep. 24, 2020--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 Caliber Collision property for $3.0 million. The property is located in a strong retail corridor in Illinois and is occupied under a net lease with the corporate operator who recently redeveloped the property. The lease has approximately 15 years of term remaining. 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 for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200924005858/en/

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

CONTACT: Gerry Morgan, 415-965-8032 CFO