FCPT Closes One Additional Burger King Restaurant of Washington Prime Transaction for $2.0 million

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 an
additional Burger King property today from Washington Prime Group Inc.
(“WPG”) for $2.0 million. The property is located in Maryland and is
occupied under a triple-net lease with approximately 16 years of term
remaining and 10% rent escalations every 5 years. The transaction was
priced at a capitalization rate consistent with our investment
thresholds and past transactions.

This is the eighth closing of the acquisition previously announced in
September 2017. Closing of the remaining properties is expected to be
completed throughout the remainder of 2019 based on the timing of
parcelization of each respective property, subject to remaining due
diligence and customary closing conditions. 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 www.fcpt.com.

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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