Articles from Four Corners Property Trust

Four Corners Property Trust (NYSEFCPT), 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 Burger King property for $1.7 million. The property is located in a strong retail corridor in Virginia and under a corporate long-term, triple net lease with approximately 13 years of term remaining. The transaction was priced at a 7.0% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 portfolio of automotive service properties for $12 million from a national operator via sale-leaseback. The properties are located in strong retail corridors across multiple states. The sites are under long-term, triple net leases. The transaction was priced at a cap rate in range with previous FCPT transactions. Our tenant has requested confidentiality around disclosure of the brand name.

Four Corners Property Trust (NYSEFCPT), 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 via sale-leaseback of six Christian Brothers Automotive properties for $24.8 million. The properties are located across Georgia (2), Indiana (2), Florida (1), and Illinois (1). The sites are in strong retail corridors with high traffic and attractive demographics. The properties are each under a long-term lease guaranteed by the corporate entity. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 National Veterinary Associates property for $3.5 million. The property is located in Connecticut and is corporate-operated under a new long-term, triple net lease with annual rent bumps. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 nine American Family Care properties for $21.2 million. American Family Care is an urgent care, family care, and primary care operator with 384 clinics across 33 states, known for its patient-first approach to providing high-quality healthcare services. The properties are located in strong retail corridors in Alabama (7) and Tennessee (2) and are corporate-operated under long term, triple net leases with approximately 14 years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 two Riverview Health outpatient primary care properties for $13.5 million via sale leaseback. Riverview Health is a non-profit health system that is owned by Hamilton County (Indiana) and is comprised of two hospitals and many additional freestanding immediate care, primary care, and specialty care facilities. The properties are located in highly trafficked corridors in Indiana and are under long term, triple net leases with a weighted average 12 years of term remaining. The transaction was priced at a 7.3% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 MercyOne outpatient clinic property for $2.8 million. The property is located in a strong retail corridor in Iowa and is under a triple net lease with approximately five years of term remaining. The transaction was priced at a 7.8% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 P.F. Chang's property for $4.8 million. P.F. Chang’s China Bistro is an American-based, casual dining restaurant chain with over 200 locations across the United States, serving Asian fusion cuisine. The property is located in a highly trafficked, strong retail corridor in Illinois and under a corporate triple net lease with approximately 5 years of term remaining. The transaction was priced at a 7.4% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 City Barbeque property for $2.6 million. City Barbeque is a 25-year-old fast casual barbeque concept with approximately 75 units primarily serving the Southeast and Midwest. The property is newly constructed and located in a highly trafficked corridor in Georgia. The property is under a long-term, triple net corporate lease with approximately 11 years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 Panera Bread property for $2.0 million. The property is located in a strong retail corridor in Indiana and corporate-operated under a triple net lease with approximately four years of term remaining. The transaction was priced at a 6.8% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 NAPA Auto Parts property for $2.0 million. The property is located in a highly trafficked corridor in New York and is under a corporate, triple net lease with approximately 5 years of term remaining. The transaction was priced at a 7.2% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 five Outback Steakhouse properties for $19.7 million from the same Seller as that of the Bloomin’ Brands 19-property portfolio the Company closed in August 2024. The properties are located in strong retail corridors across Texas (3), Florida (1), and Missouri (1) and are corporate operated under long-term net leases. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 Raising Cane's property, a Dollar General property, and a Jiffy Lube property for $6.6 million. The properties are located in strong retail corridors in Texas and Florida under long term, triple net leases with a weighted average of 8 years of term remaining. The Raising Cane’s and Dollar General properties are corporate-operated and the Jiffy Lube is franchisee-operated. The transaction was priced at a 7.3% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust, Inc. (NYSEFCPT) today announced that its Board of Directors declared a quarterly cash dividend of $0.3550 per share (equivalent to $1.42 per share per annum) for the fourth quarter of 2024. This represents a 2.9% increase from the prior quarter. The dividend is payable on January 15, 2025, to shareholders of record as of December 31, 2024.

Four Corners Property Trust (NYSEFCPT), 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 Miller's Ale House property for $3.8 million. The property is located in a strong retail corridor in Georgia and is corporate-operated under a long term, net lease with approximately 11 years of term remaining. The transaction was priced at a 7.2% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 three Christian Brothers Automotive properties for $9.6 million. Christian Brothers Automotive is an auto repair business with over 250 locations across 30 states, known for its customer-first approach and commitment to high-quality service. The properties are located in strong retail corridors in Alabama, Colorado, and Louisiana and are occupied under long term, triple net leases with a weighted average 12 years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust, Inc. (“FCPT” or the “Company”, NYSE: FCPT) today announced financial results for the three and nine months ended September 30, 2024.

Four Corners Property Trust (NYSEFCPT), 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 Tires Plus property for $2.1 million. The property is located in a strong retail corridor in Georgia and is corporate-operated under a long-term triple net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), a real estate investment trust (REIT) primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), announced today that it will release financial results for the three and nine months ended September 30, 2024, after the market close on Wednesday, October 30, 2024. A conference call and audio webcast with analysts and investors will be held on Thursday, October 31 at 11:00 a.m. Eastern Time, to discuss the results. Details for the call are listed below.

Four Corners Property Trust, Inc. (NYSEFCPT) today announced that its Board of Directors declared a quarterly cash dividend of $0.3450 per share (equivalent to $1.38 per share per annum) for the third quarter of 2024. The dividend is payable on October 15, 2024, to shareholders of record as of September 30, 2024.

Four Corners Property Trust (NYSEFCPT), 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 19 Bloomin’ Brands restaurant properties comprising of 20 total restaurants (10 Outback Steakhouse restaurants and 10 Carrabba’s Italian Grill restaurants, including one dual-tenant property with both concepts) for a purchase price of $66.4 million. The 19 properties are located across 10 states (AZ, FL, GA, KY, LA, NC, NV, PA, SC, and TN). The sites are in strong retail corridors with high traffic and attractive demographics. The properties are under two long-term master leases of ten restaurants each and leased to corporate Bloomin’ Brands entities. The transaction was priced at cap rate in range with previous FCPT transactions.

Four Corners Property Trust, Inc. (“FCPT” or the “Company”, NYSE: FCPT) today announced financial results for the three and six months ended June 30, 2024.

Four Corners Property Trust (NYSEFCPT), 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 Taco Bell property for $1.7 million. The property is located in a strong retail corridor in Illinois and is franchisee-operated under a triple net lease to K-MAC Enterprises, Inc. (“K-MAC”) with approximately five years of term remaining. K-MAC is one of the largest Taco Bell franchisees in the United States, with over 340 Taco Bell restaurants across 10 states. The transaction was priced at a 7.5% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 Buffalo Wild Wings property for $2.5 million. The property is located in a highly trafficked corridor in Texas and corporate-operated under a net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), a real estate investment trust (REIT) primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), announced today that it will release financial results for the three and six months ended June 30, 2024, after the market close on Wednesday, July 31, 2024. A conference call and audio webcast with analysts and investors will be held on Thursday, August 1 at 11:00 a.m. Eastern Time, to discuss the results. Details for the call are listed below.

Four Corners Property Trust, Inc. (NYSEFCPT) today announced that its Board of Directors declared a quarterly cash dividend of $0.3450 per share (equivalent to $1.38 per share per annum) for the second quarter of 2024. The dividend is payable on July 15, 2024, to shareholders of record as of June 28, 2024.

Four Corners Property Trust (NYSEFCPT), 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 MercyOne outpatient clinic property for $3.0 million. As part of the larger Trinity Health network, MercyOne is a non-profit healthcare system which operates more than 420 hospitals, clinics, and other healthcare facilities in Iowa and Nebraska. The property is located in a strong retail corridor in Iowa and is corporate-operated under a long term, triple net lease with approximately six years of term remaining. The transaction was priced at a 7.2% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 Mercy Health Clinic property for $3.8 million. Mercy Health is one of the largest health systems in the United States and has been in operation since 1871. The property is located in a strong retail corridor in Missouri and corporate-operated under a triple net lease with approximately five years of term remaining. The transaction was priced at a 7.1% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 Mavis Tire property for $2.4 million. The property is located in a strong retail corridor in Illinois and is corporate-operated under a long-term, triple net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 National Veterinary Associates property for $2.0 million. The property is located in Indiana and is corporate-operated under a new long-term, triple net lease with annual rent bumps. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 BluePearl Pet Hospital property for $1.9 million. The property is located in a highly trafficked corridor in Michigan and is corporate-operated under a net lease with approximately nine years of term remaining. The transaction was priced at a 7.9% cap rate, exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 National Veterinary Associates property for $1.8 million. The property is located in Florida and is corporate-operated under a new long-term, triple net lease with annual rent bumps. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 eight Mavis Tire and affiliated operated properties for $20 million via a sale-leaseback. The properties are located across Alabama (2), Georgia (2), Louisiana (1), New Jersey (1), New York (1), and Tennessee (1). Each property is operated under a long-term, triple net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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.

Four Corners Property Trust, Inc. (“FCPT” or the “Company”, NYSE: FCPT) today announced financial results for the three months ended March 31, 2024.

Four Corners Property Trust (NYSEFCPT), 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 Patient First Urgent Care property for $6.6 million. The property is located in a highly trafficked corridor in Pennsylvania under a triple net lease with approximately ten years of term remaining. The transaction was priced at a 7.1% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 Banfield Pet Hospital property for $2.4 million. The property is newly constructed and located in a strong retail corridor in Iowa under a long term, net lease with approximately 10 years of term remaining. The transaction was priced at a 7.3% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), a real estate investment trust (REIT) primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), announced today that it will release financial results for the three months ended March 31, 2024, after the market close on Wednesday, May 1, 2024. A conference call and audio webcast with analysts and investors will be held on Thursday, May 2 at 11:00 a.m. Eastern Time, to discuss the results. Details for the call are listed below.

Four Corners Property Trust (NYSEFCPT), 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 Heartland Dental property for $2.0 million. The property is located in a strong retail corridor in Alabama and is corporate-operated under a net lease with approximately four years of term remaining. The transaction was priced at a 7.7% cap rate on rent as of the closing date, exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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”), announced today that the Company entered into an Incremental Amendment to the Third Amended and Restated Revolving Credit and Term Loan Agreement with a group of existing lenders (the “Credit Agreement”). The Company utilized the accordion feature of the Credit Agreement to enter into a new $85 million term loan (the “Term Loan”). The Term Loan matures in March 2027 with one twelve-month extension exercisable at the Company’s option, subject to certain conditions. The Term Loan will be fully drawn at close and will be used to pay down the $50 million of private notes maturing in June 2024 as well as for acquisitions and other general corporate purposes.

Four Corners Property Trust (NYSEFCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), announced today that it plans to promote Patrick Wernig, Managing Director of Acquisitions, to Chief Financial Officer subject to his appointment by the Board of Directors (the “Board”).

Four Corners Property Trust (NYSEFCPT), 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 Baptist Medical Group primary care property for $9.7 million. Baptist Medical Group’s parent company, Baptist Memorial Health Care, was founded in 1912 and is one of the largest not-for-profit healthcare systems in the United States. The property is located in a highly trafficked corridor in Tennessee and is corporate-operated under a long-term, triple net lease with approximately 10 years of term remaining. The transaction was priced at a 6.9% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), a real estate investment trust (REIT) primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), announced today that it will release financial results for the three months and twelve months ended December 31, 2023, after the market close on Wednesday, February 14, 2024. A conference call and audio webcast with analysts and investors will be held on Thursday, February 15 at 11:00 a.m. Eastern Time, to discuss the results. Details for the call are listed below.

Four Corners Property Trust (NYSEFCPT), 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 two Oak Street Health properties for $4.2 million. The properties are located in highly trafficked corridors in Iowa and Louisiana and are corporate-operated under long-term, net leases. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 Tire Discounters property for $1.8 million via sale-leaseback transaction. Tire Discounters is the country’s largest family-owned and operated automotive service provider, with its brands currently operating over 200 locations and growing. The property is located in Kentucky, and is corporate-operated under a long-term, triple net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 two Popeyes properties for $4.7 million. The properties are located in strong retail corridors in Arizona and Illinois and are occupied under a long-term, triple net lease with approximately 20 years of term remaining. The properties are in the final stages of construction but rent will commence immediately at close. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 Tire Discounters property for $1.7 million via sale-leaseback transaction. Tire Discounters is the country’s largest family-owned and operated automotive service provider, with its brands currently operating over 200 locations and growing. The property is located in Ohio, and is corporate-operated under a long-term, triple net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 Taco Bell property for $2.2 million. The property is located in a strong retail corridor in Oklahoma and is franchisee-operated under a triple net lease to K-MAC Enterprises, LLC with approximately five years of term remaining. The transaction was priced at a 7.3% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 Oak Street Health property for $2.4 million. The property is located in a highly trafficked corridor in Arkansas and is corporate-operated under a long-term, net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), a real estate investment trust (REIT) primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), announced today that it will release financial results for the three months and nine months ended September 30, 2023, after the market close on Wednesday, November 1, 2023. A conference call and audio webcast with analysts and investors will be held on Thursday, November 2 at 11:00 a.m. Eastern Time, to discuss the results. Details for the call are listed below.

Four Corners Property Trust (NYSEFCPT), 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 disposition of a Red Lobster property for $3.8 million. The property is located in Kentucky and is corporate-operated under a triple net lease. The transaction was priced at cap rate in range with previous FCPT dispositions. The Company plans to repurpose the proceeds into new investment opportunities consistent with FCPT thresholds.

Four Corners Property Trust (NYSEFCPT), 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 disposition of a Red Lobster property for $5.3 million. The property is located in Delaware and is corporate-operated under a triple net lease. The transaction was priced at cap rate in range with previous FCPT dispositions. The Company plans to repurpose the proceeds into new investment opportunities consistent with FCPT thresholds.

Four Corners Property Trust (NYSEFCPT), 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 disposition of a Red Lobster property for $5.9 million. The property is located in Minnesota and is corporate-operated under a triple net lease. The transaction was priced at a cap rate in range with previous FCPT dispositions. The Company plans to repurpose the proceeds into new investment opportunities consistent with FCPT thresholds.

Four Corners Property Trust (NYSEFCPT), 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 three newly built properties for $5.2 million. The portfolio spans three brands: Aspen Dental, Starbucks, and WellNow Urgent Care. The properties are newly constructed and located in a strong retail corridor in Michigan and are all corporate-operated under long-term net leases. The transaction was priced at a 6.9% cap rate on rent as of the closing date, exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 four Tire Discounters properties for $9.1 million via sale-leaseback transaction. Tire Discounters is the country’s largest family-owned and operated automotive service provider, currently operating over 200 retail locations and growing. The properties are located in Virginia (2), Georgia (1), and Ohio (1), and are corporate-operated under long-term, triple net leases. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 Jiffy Lube property for $1.6 million. The property is located in a strong retail corridor in Iowa and is occupied under a long-term triple net lease with approximately 12 years of term remaining. The transaction was priced at a 7.0% cap rate on rent as of the closing date, exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 dual-tenant Aspen Dental and WellNow Urgent Care property for $3.3 million. The property is located in a retail corridor in New York and is occupied under a long-term net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 Covenant Health Emergency Room for $8.7 million. Covenant Health is part of the larger Providence Health & Services health care system. The property is located in a strong retail corridor in Texas and is corporate-operated under a net lease with approximately seven years of term remaining. The transaction was priced at a 7.0% cap rate on rent as of the closing date, exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 four newly built properties for $17.9 million. The portfolio spans eight brands and nine leases: Starbucks (2), Aspen Dental, Bronson Health, Great Clips, Mattress Firm, Oak Street Health, Taco Bell, and WellNow Urgent Care. The properties are newly constructed and located in strong retail corridors in MI and IN and are occupied under long-term net leases. The transaction was priced at a 6.6% cap rate on rent as of the closing date, exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 Fast Pace Urgent Care property for $2.3 million. The property is located in a retail corridor in Louisiana and is occupied under a long-term net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 two Wawa properties for $2.5 million. The properties are located in strong retail corridors in New Jersey and are corporate-operated under a long-term, triple net lease with a weighted average of 1.4 years of term remaining. The transaction was priced at a 6.7% cap rate on rent as of the closing date, exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), a real estate investment trust (REIT) primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), announced today that it will release financial results for the three months and six months ended June 30, 2023, after the market close on Tuesday, August 1, 2023. A conference call and audio webcast with analysts and investors will be held on Wednesday, August 2 at 11:00 a.m. Eastern Time, to discuss the results. Details for the call are listed below.

Four Corners Property Trust (NYSEFCPT), 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”), closed on the purchase of 13 corporate-operated Darden restaurant properties (12 Cheddar’s Scratch Kitchen properties and 1 Olive Garden property) for a purchase price of $79.5 million on initial full year cash rent of approximately $5.0 million. This was part of the previously announced transaction in May 2023. The Company may acquire one additional Cheddar’s Scratch Kitchen property in the near term pending further due diligence. If the Company acquires the additional property, the total transaction size will be 14 properties for $85.0 million on initial full year annual cash rent of approximately $5.35 million.

Four Corners Property Trust (NYSEFCPT), 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 WellNow property and a T-Mobile property for $4.0 million. The properties are located in a strong retail corridor in New York and are occupied under long-term net leases. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 Optima Dermatology clinic for $9.3 million. The property is located in a retail corridor in New Hampshire and is occupied under a corporate, triple net lease with approximately 15 years of term remaining. The transaction was priced at a 7.0% cap rate on rent as of the closing date, exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 two Tire Discounters properties for $5.3 million via sale-leaseback transaction. Tire Discounters is the country’s largest family-owned and operated automotive service provider, currently operating over 200 retail locations and growing. The properties are located in North Carolina and Virginia and are corporate-operated under long-term, triple net leases. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 nine car wash properties for $40 million from a top five operator via a sale-leaseback. The properties are located in strong retail corridors in Florida, Indiana, Louisiana, Ohio, Oklahoma, and South Carolina. The sites are corporate-operated under a long-term, triple net master lease. The transaction was priced at a cap rate in range with previous FCPT transactions. Our tenant has requested confidentiality around disclosure of the brand name.

Four Corners Property Trust (NYSEFCPT), 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 Olive Garden property for $3.4 million. The property is located in a strong retail corridor in Indiana and is corporate-operated under a long-term, triple net lease with approximately nine years of term remaining. The transaction was priced at a 6.5% cap rate on rent as of the closing date and exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 National Veterinary Alliance property for $7.8 million. The property is newly constructed and located in a highly trafficked corridor in Pennsylvania and is corporate-operated under a triple net lease with 15 years of term remaining. The transaction was priced at a 6.5% cap rate, exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 Texas Roadhouse property for $3.7 million. The property is located in a strong retail corridor in Wisconsin under a triple net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 Bojangles’ property for $1.4 million. The property is located in a strong retail corridor in North Carolina and is occupied under a triple net lease with approximately 10 years of term remaining. The transaction was priced at a 6.7% cap rate on rent as of the closing date, exclusive of transaction costs.

Four Corners Property Trust (NYSEFCPT), 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 three Mo’Bettahs properties for $6.6 million. Established in 2008, Mo’Bettahs is a Hawaiian-style quick service restaurant backed by Savory Brands. The properties are newly constructed and located in strong retail corridors in Kansas, Missouri, and Oklahoma and are occupied under a long-term, triple net lease with approximately 15 years of term remaining. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 five Oak Street Health properties for $24.3 million. The properties are located in strong retail corridors in Illinois and Indiana and are corporate-operated under net leases. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 Fast Pace Health property for $2.1 million. The property is newly constructed and located in a strong retail corridor in Louisiana and is occupied under a long-term net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.

Four Corners Property Trust (NYSEFCPT), 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 disposition of a Burger King property for $2.1 million. The property is located in Virginia and is operated by Carrols Restaurant Group under a triple net lease with approximately 14 years of term remaining. The transaction was priced at a 6.6% cap rate on current rent, exclusive of transaction costs, and will result in an immaterial gain to FCPT. The company plans to repurpose the proceeds into new investment opportunities consistent with FCPT thresholds.