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Press release content from Business Wire. The AP news staff was not involved in its creation.

FCPT Announces Acquisition of a Two Property Portfolio for $2.7 Million

August 17, 2021 GMT

MILL VALLEY, Calif.--(BUSINESS WIRE)--Aug 17, 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 National Tire and Battery (NTB) property and a Goodyear Tire property for $2.7 million. The properties are located in strong retail corridors in Louisiana and are corporate-operated. Both the NTB and the Goodyear properties are occupied under net leases, with approximately four and ten years of term remaining, respectively. The transaction was priced at a 6.7% cap rate on rent today, 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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View source version on businesswire.com:https://www.businesswire.com/news/home/20210817005840/en/

CONTACT: Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEOGerry Morgan, 415-965-8032

CFO

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA LOUISIANA

INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY REIT

SOURCE: Four Corners Property Trust

Copyright Business Wire 2021.

PUB: 08/17/2021 04:05 PM/DISC: 08/17/2021 04:06 PM

http://www.businesswire.com/news/home/20210817005840/en