FCPT Announces Acquisition of a LongHorn Steakhouse Property from Brookfield Properties for $1.8 Million

MILL VALLEY, Calif.--(BUSINESS WIRE)--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 LongHorn Steakhouse property for $1.8 million from the Brookfield Properties transaction previously announced in October 2019. The property is located in Oklahoma in a highly trafficked retail corridor and is corporate-operated under a triple net lease with approximately five years of term remaining. The Brookfield Properties portfolio 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 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.