03:55 AM EDT, 07/10/2025 (MT Newswires) -- Four Corners Property Trust ( FCPT ) said Wednesday it has acquired a LongHorn Steakhouse property in Michigan for $2.5 million.

The company said the deal was completed at a 6.5% cap rate, excluding transaction costs, and continues its strategy of investing in well-located, net-leased restaurant properties.

Located in a high-traffic area, the restaurant is corporate-operated under a long-term triple net lease with about seven years remaining, it added.