{"id":1010395,"date":"2026-10-14T17:53:22","date_gmt":"2026-10-14T21:53:22","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/fcpt-announces-extensions-for-100-of-olive-garden-and-longhorn-leases-maturing-in-2027\/"},"modified":"2026-10-14T17:53:22","modified_gmt":"2026-10-14T21:53:22","slug":"fcpt-announces-extensions-for-100-of-olive-garden-and-longhorn-leases-maturing-in-2027","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fcpt-announces-extensions-for-100-of-olive-garden-and-longhorn-leases-maturing-in-2027\/","title":{"rendered":"FCPT Announces Extensions for 100% of Olive Garden and LongHorn Leases Maturing in 2027"},"content":{"rendered":"

<\/p>\n

FCPT Announces Extensions for 100% of Olive Garden and LongHorn Leases Maturing in 2027<\/b><\/p>\n

MILL VALLEY, Calif.–(BUSINESS WIRE<\/a>)–Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (\u201cFCPT\u201d or the \u201cCompany\u201d), is pleased to announce the execution of a master agreement, extension and exercise (\u201cMaster Agreement\u201d) with Darden Restaurants, Inc. and certain of its affiliates (\u201cDarden\u201d) (NYSE:DRI) with respect to all 66 Olive Garden and LongHorn leases previously expiring in October 2027. The Master Agreement also includes the early extension options for six leases expiring in October 2028. The leases have been extended by approximately five years, and in all cases, rent will continue to increase by 1.5% annually in accordance with the underlying leases.<\/p>\n

Under the Master Agreement, FCPT and Darden have agreed to extend all Olive Garden and LongHorn leases previously expiring in 2027 via either tenant extension option or amendment. This represents the renewal of 100% of FCPT\u2019s Darden leases for these brands with renewal notice dates in 2026. The agreement did not include any landlord rent concessions or capital contributions.<\/p>\n

Bill Lenehan, CEO of FCPT, stated: \u201cThis Master Agreement represents our first opportunity to provide proof of concept for the high renewal rate and sustainable rent levels in the original spin-off portfolio. Further, the Master Agreement includes an early exercise for several leases maturing more than two years from now, underscoring the confidence Darden has in our properties. This outcome is the direct result of FCPT\u2019s strategy of pairing best-in-class operators with high-quality, low rent properties.\u201d<\/p>\n

About FCPT<\/strong><\/p>\n

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com<\/a>.<\/p>\n

Cautionary Note Regarding Forward-Looking Statements<\/strong><\/p>\n

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\u2019s 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\u2019s plans, objectives, expectations and intentions, cost savings and other statements. Words such as \u201canticipate(s),\u201d \u201cexpect(s),\u201d \u201cintend(s),\u201d \u201cplan(s),\u201d \u201cbelieve(s),\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201ccould,\u201d \u201cshould,\u201d \u201cseek(s)\u201d 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\u2019s 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\u2019s expectations or any change in events, conditions or circumstances on which any statement is based. Forward-looking statements are based on management\u2019s 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\u2019s future results to differ materially from any forward-looking statements, see the section entitled \u201cRisk Factors\u201d in FCPT\u2019s 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.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20261014877285\/en\/<\/a><\/span><\/p>\n

Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO<\/p>\n

Patrick Wernig, 415-965-8038
CFO<\/p>\n

KEYWORDS:<\/b> California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Retail Construction & Property REIT Food\/Beverage<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

FCPT Announces Extensions for 100% of Olive Garden and LongHorn Leases Maturing in 2027 MILL VALLEY, Calif.–(BUSINESS WIRE)–Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (\u201cFCPT\u201d or the \u201cCompany\u201d), is pleased to announce the execution of a master agreement, extension and exercise (\u201cMaster Agreement\u201d) with Darden Restaurants, Inc. and certain of its affiliates (\u201cDarden\u201d) (NYSE:DRI) with respect to all 66 Olive Garden and LongHorn leases previously expiring in October 2027. The Master Agreement also includes the early extension options for six leases expiring in October 2028. The leases have been extended by approximately five years, and in all cases, rent will continue to increase … <\/p>\n

Continue reading “FCPT Announces Extensions for 100% of Olive Garden and LongHorn Leases Maturing in 2027”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1010395","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nFCPT Announces Extensions for 100% of Olive Garden and LongHorn Leases Maturing in 2027 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fcpt-announces-extensions-for-100-of-olive-garden-and-longhorn-leases-maturing-in-2027\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FCPT Announces Extensions for 100% of Olive Garden and LongHorn Leases Maturing in 2027 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"FCPT Announces Extensions for 100% of Olive Garden and LongHorn Leases Maturing in 2027 MILL VALLEY, Calif.–(BUSINESS WIRE)–Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (\u201cFCPT\u201d or the \u201cCompany\u201d), is pleased to announce the execution of a master agreement, extension and exercise (\u201cMaster Agreement\u201d) with Darden Restaurants, Inc. and certain of its affiliates (\u201cDarden\u201d) (NYSE:DRI) with respect to all 66 Olive Garden and LongHorn leases previously expiring in October 2027. 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