FCPT closes $79.5M acquisition of 13 Darden restaurant properties; YTD volume $269.1M

Four Corners Property Trust, Inc.

Closed purchase of 12 Cheddar's Scratch Kitchen and 1 Olive Garden property for $79.5M, initial annual rent ~$5.0M.
May acquire one more Cheddar's property for total 14 properties at $85.0M and ~$5.35M rent.
Year-to-date acquisition volume totals $269.1M across 71 properties at weighted avg cap rate 6.7%.
Portfolio annualized in-place rents now ~$212.6M.
Management cites buyer-friendly market; leverage remains within target range.

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