Fcpt Announces Acquisition Of An Outback Steakhouse Property For $2.4 Million

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 an Outback Steakhouse property for $2.4 million. The property is located in a strong retail corridor in Indiana and is corporate-operated under a net lease with approximately 4 years of term remaining. The transaction was priced at a 6.8% going-in cash capitalization rate, exclusive of transaction costs.