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FCPT Announces Acquisition of a Longhorn Steakhouse Property for $2.0 Million

Business Wire
·1 min read

MILL VALLEY, Calif., May 15, 2024--(BUSINESS WIRE)--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 Longhorn Steakhouse property for $2.0 million. The property is located in a highly trafficked corridor in Illinois and is corporate-operated under a net lease. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240515844671/en/

Contacts

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

Pat Wernig, 415-965-8038
CFO