Four Corners Property Trust, Inc. acquired Outback Steakhouse and Hook & Reel property from Seritage Growth Properties for $5.2 million.

Four Corners Property Trust, Inc. is a real estate investment trust (REIT) primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company's segments are real estate operations and restaurant operations. Its real estate operations segment consists of rental revenues primarily generated by leasing restaurant properties to tenants through net lease arrangements under which the tenant is primarily responsible for ongoing costs relating to the properties. Its restaurant operations segment is conducted through a taxable REIT subsidiary and consists of its Kerrow Restaurant Operating Business. It operates the Kerrow Restaurant Operating Business through Kerrow Holdings, LLC (Kerrow). The Company’s investment portfolio includes approximately 1,111 rental properties located in 47 different states across the continental United States, comprised of 148 tenant brands. It has an aggregate leasable area of approximately 7.5 million square feet.