05:22 PM EDT, 03/14/2024 (MT Newswires) -- Four Corners Property Trust ( FCPT ) said late Thursday it entered into a new $85 million term loan by using an accordion feature of its credit agreement.

The loan will mature in March 2027, with one 12-month extension option.

The real estate investment trust said the loan will be fully drawn at close and will be used to pay down the $50 million of private notes due June, among other things.