Four Corners Property Trust Announces Acquisition of Wendy’s Restaurant for $2.1 million

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, is pleased to announce the acquisition of a Wendy’s restaurant in Odessa, TX for $2.1 million. FCPT funded the acquisition with cash on hand. The restaurant is occupied under a triple-net lease with approximately 10 years of remaining term, and the transaction closed at a going-in cash cap rate of 6.5%, exclusive of transaction costs. The property is a strong performer in an attractive location, and the tenant is an experienced Wendy’s franchisee with strong credit.

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 will seek to grow its portfolio by acquiring additional real estate to lease, on a triple 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.fourcornerspropertytrust.com/.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160802006963/en/

Four Corners Property Trust, Inc.
Bill Lenehan, 415-965-8031
CEO
Gerry Morgan, 415-965-8032
CFO

Source: Four Corners Property Trust, Inc.

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