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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 Portillo’s Restaurant Property from Seritage Transaction for $3.3 Million

December 30, 2021 GMT

MILL VALLEY, Calif.--(BUSINESS WIRE)--Dec 29, 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 a Portillo’s restaurant property for $3.3 million. The property is located in a strong retail corridor in Wisconsin and is occupied under a long-term triple net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.

Inclusive of today’s transaction, FCPT has acquired a total of 25 properties for $76 million from Seritage.

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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View source version on businesswire.com:https://www.businesswire.com/news/home/20211229005407/en/

CONTACT: Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEOGerry Morgan, 415-965-8032

CFO

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: REIT RESTAURANT/BAR RETAIL COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY

SOURCE: Four Corners Property Trust

Copyright Business Wire 2021.

PUB: 12/29/2021 07:08 PM/DISC: 12/29/2021 07:08 PM

http://www.businesswire.com/news/home/20211229005407/en