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FCPT Announces Acquisition of LongHorn Steakhouse and IHOP Restaurant Properties for $2.6 million

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MILL VALLEY, Calif.–(BUSINESS WIRE)–Four Corners Property Trust (NYSE:FCPT), a real estate investment trust
engaged in the ownership of high-quality, net-leased restaurant
properties (“FCPT” or the “Company”), is pleased to announce the
acquisition of a LongHorn Steakhouse property and an IHOP property for
$2.6 million. The properties are located in Alabama and Virginia,
respectively, and are occupied under triple net leases with 8 years of
weighted average term remaining. The transaction was priced at a 6.9%
going-in cash cap 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, on a net basis, for use in the
restaurant and related food services industry. Additional information
about FCPT can be found on the website at http://www.fcpt.com/.

Contacts

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

Gerry Morgan, 415-965-8032
CFO

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