Market Overview

FCPT Closes Two Additional Restaurant Properties of Washington Prime Transaction


Four Corners Property Trust (NYSE:FCPT), a real estate investment
trust engaged in the ownership of high-quality, net-leased restaurant
properties ("FCPT" or the "Company"), closed on the purchase of two
additional restaurant properties today from Washington Prime Group Inc.
("WPG"). The two properties are a corporate-operated Olive Garden and a
franchisee-operated Taco Bell. This is the third closing of the
acquisition previously announced in September 2017. Closing of the
remaining properties will vary based on the timing of parcelization of
each respective property, subject to remaining due diligence and
customary closing conditions.

The purchase price for the two properties was approximately $4.6 million
and represents a capitalization rate consistent with our investment
thresholds and past transactions. The leases have a current weighted
average remaining term of approximately 7.6 years. Both of the
properties are ground leases (i.e., the tenant built its own
building with ownership reverting to the landlord upon lease expiry).
The two restaurants are outparcels to one of WPG's Open Air properties
and are well located within a highly trafficked retail corridor in

Additional detail on all properties acquired from WPG will be disclosed
upon the closing of each of the additional properties.

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 related
food services industry. Additional information about FCPT can be found
on the website at

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the federal securities laws. Forward-looking statements
include all statements that are not historical statements of fact and
those regarding FCPT's intent, belief or expectations, including, but
not limited to, statements regarding the anticipated consequences and
benefits of the transaction and other future events and their potential
effects on FCPT, including, but not limited to, statements relating to
anticipated financial and operating results, the company's plans,
objectives, expectations and intentions, cost savings and other
statements. Words such as "anticipate(s)," "expect(s)," "intend(s),"
"plan(s)," "believe(s)," "may," "will," "would," "could," "should,"
"seek(s)" and similar expressions, or the negative of these terms, are
intended to identify such forward-looking statements. Forward-looking
statements speak only as of the date on which such statements are made
and, except in the normal course of FCPT's public disclosure
obligations, FCPT expressly disclaims any obligation to publicly release
any updates or revisions to any forward-looking statements to reflect
any change in FCPT's expectations or any change in events, conditions or
circumstances on which any statement is based. Forward-looking
statements are based on management's current expectations and beliefs
and FCPT can give no assurance that its expectations or the events
described will occur as described. For a further discussion of these and
other factors that could cause FCPT's future results to differ
materially from any forward-looking statements, see the section entitled
"Risk Factors" in FCPT's most recent annual report on Form 10-K, and
other risks described in documents subsequently filed by FCPT from time
to time with the Securities and Exchange Commission.

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