☒
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ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019
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☐
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to
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Maryland
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47-4456296
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(State or other jurisdiction of incorporation or organization)
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(IRS Employer Identification No.)
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591 Redwood Highway,
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Suite 1150,
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Mill Valley,
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CA
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94941
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(Address of principal executive offices)
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Title of each class
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Trading Symbol
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Name of each exchange on which registered
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Common Stock, $0.0001 par value per share
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FCPT
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New York Stock Exchange
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Page
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Part 1
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Item 1.
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Item 1A.
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Item 1B.
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Item 2.
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Item 3.
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Item 4.
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Part II
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Item 5.
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Item 6.
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Item 7.
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Item 7A.
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Item 8.
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Item 9.
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Item 9A.
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Item 9B.
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Part III
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Item 10.
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Item 11.
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Item 12.
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Item 13.
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Item 14.
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Part IV
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Item 15.
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Item 16.
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Signatures
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•
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699 free-standing properties located in 46 states and representing an aggregate leasable area of 4.6 million square feet;
|
•
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99.7% occupancy (based on leasable square footage);
|
•
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An average remaining lease term of 11.1 years (weighted by annualized base rent);
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•
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An average annual rent escalation of 1.5% through December 31, 2029 (weighted by annualized base rent); and
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•
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72% investment-grade tenancy (weighted by annualized base rent).
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Brand
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Number of FCPT Properties and Leasehold Interests
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Total Square Feet (000s)
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Annual Cash Base Rent $(000s)
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% Total Cash Base Rent (1)
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Avg. Rent Per Square Foot ($)
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Tenant EBITDAR Coverage (2)
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Lease Term Remaining (Yrs) (3)
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||||||||
Olive Garden
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304
|
|
2,593
|
|
$
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74,171
|
|
53.2
|
%
|
$
|
29
|
|
5.4x
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10.7
|
|
Longhorn Steakhouse
|
109
|
|
608
|
|
20,471
|
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14.7
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%
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34
|
|
4.6x
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9.6
|
|
||
Other Brands - non-Darden
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273
|
|
1,313
|
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40,606
|
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29.1
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%
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31
|
|
3.1x
|
12.9
|
|
||
Other Brands - Darden
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13
|
|
120
|
|
4,167
|
|
3.0
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%
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35
|
|
3.9x
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8.9
|
|
||
Total
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699
|
|
4,634
|
|
$
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139,415
|
|
100.0
|
%
|
$
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30
|
|
4.7x
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11.1
|
|
(1)
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Current scheduled minimum contractual rent as of December 31, 2019.
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(2)
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EBITDAR Coverage is calculated by dividing our tenants estimated trailing 12-month EBITDAR by annual contractual cash rent paid to FCPT. EBITDAR is defined as earnings before interest, income taxes, depreciation, amortization, and rent. EBITDAR is derived from the most recent data from tenants who disclose this information, representing approximately 90% of our run-rate rental income. FCPT does not independently verify financial information provided by its tenants.
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(3)
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Lease term remaining is defined as the lease term weighted by the annual cash base rent.
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State
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# of Leases
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% of Annual Base Rent
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Texas
|
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72
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12.5%
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Florida
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63
|
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10.8%
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Ohio
|
|
50
|
|
6.9%
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Georgia
|
|
43
|
|
6.3%
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Michigan
|
|
38
|
|
4.3%
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Tennessee
|
|
28
|
|
3.6%
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Indiana
|
|
42
|
|
4.0%
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Illinois
|
|
32
|
|
3.4%
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Pennsylvania
|
|
19
|
|
3.0%
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California
|
|
14
|
|
2.8%
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North Carolina
|
|
18
|
|
2.6%
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Virginia
|
|
19
|
|
2.4%
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Mississippi
|
|
18
|
|
2.4%
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Maryland
|
|
16
|
|
2.2%
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South Carolina
|
|
14
|
|
2.1%
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Colorado
|
|
20
|
|
2.2%
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New York
|
|
13
|
|
2.0%
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Iowa
|
|
22
|
|
2.3%
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Wisconsin
|
|
18
|
|
2.0%
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Alabama
|
|
15
|
|
1.7%
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Kentucky
|
|
11
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1.7%
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Arizona
|
|
11
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1.7%
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Minnesota
|
|
9
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1.6%
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Nevada
|
|
8
|
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1.6%
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Oklahoma
|
|
10
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1.7%
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Louisiana
|
|
9
|
|
1.5%
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West Virginia
|
|
6
|
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1.1%
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Missouri
|
|
8
|
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1.2%
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Kansas
|
|
5
|
|
1.0%
|
17 other states (none greater than 1%)
|
|
51
|
|
7.7%
|
Total
|
|
702
|
|
100.0%
|
•
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inability to collect rent from tenants due to financial hardship, including bankruptcy;
|
•
|
changes in consumer trends and preferences that reduce demand for the products or services of our tenants;
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•
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inability to lease at or above the current rental rates, or at all, or sell properties upon expiration or termination of existing leases;
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•
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needing to make capital expenditures to renovate vacant properties;
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•
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environmental risks related to the presence of hazardous or toxic substances or materials on our properties;
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•
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subjectivity of real estate valuations and changes in such valuations over time;
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•
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illiquid nature of real estate compared to most other financial assets;
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•
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changes in laws and regulations, including those governing real estate usage and zoning;
|
•
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changes in interest rates and the availability of financing; and
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•
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changes in the general economic and business climate.
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•
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food safety and food-borne illness concerns throughout the supply chain; health concerns arising from food-related pandemics, outbreaks of flu viruses or other diseases;
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•
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litigation, including allegations of illegal, unfair or inconsistent employment practices;
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•
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unfavorable publicity, or a failure to respond effectively to adverse publicity;
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•
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labor and insurance costs;
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•
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insufficient guest or employee facing technology, or a failure to maintain a continuous and secure cyber network, free from material failure, interruption or security breach;
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•
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inability or failure to execute a comprehensive business continuity plan following a major natural disaster such as a hurricane or man-made disaster, including terrorism;
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•
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failure to drive both short-term and long-term profitable sales growth through brand relevance, operating excellence, opening new restaurants of existing brands and developing or acquiring new dining brands;
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•
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a lack of suitable new restaurant locations or a decline in the quality of the locations of Darden’s or Brinker’s current restaurants;
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•
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a failure to identify and execute innovative marketing and guest relationship tactics and ineffective or improper use of social media or other marketing initiatives; an inability or failure to recognize, respond to and effectively manage the accelerated impact of social media;
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•
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a failure to address cost pressures, including rising costs for commodities, health care and utilities used by Darden’s and Brinker’s restaurants, and a failure to effectively deliver cost management activities and achieve economies of scale in purchasing;
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•
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the impact of shortages or interruptions in the delivery of food and other products from third-party vendors and suppliers;
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•
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disruptions in the financial markets that may impact consumer spending patterns, affect the availability and cost of credit and increase pension plan expenses;
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•
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economic and business factors specific to the restaurant industry and other general macroeconomic factors including energy prices and interest rates that are largely out of Darden’s or Brinker’s control; and
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•
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a failure of Darden’s or Brinker’s internal controls over financial reporting and future changes in accounting standards.
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Record Date
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Payment Date
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Total Distribution
($ per share) |
|
Form 1099
Box 1a Ordinary Taxable Dividend ($ per share) |
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Form 1099
Box 1b Qualified Taxable Dividend ($ per share) |
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Form 1099
Box 3 Return of Capital ($ per share) |
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Form 1099
Box 5 Section 199A Dividends ($ per share) |
||||||||||
1/4/2019
|
|
1/14/2019
|
|
$
|
0.2875
|
|
|
$
|
0.2226
|
|
|
$
|
—
|
|
|
$
|
0.0649
|
|
|
$
|
0.2226
|
|
3/29/2019
|
|
4/15/2019
|
|
0.2875
|
|
|
0.2226
|
|
|
—
|
|
|
0.0649
|
|
|
0.2226
|
|
|||||
6/28/2019
|
|
7/15/2019
|
|
0.2875
|
|
|
0.2226
|
|
|
—
|
|
|
0.0649
|
|
|
0.2226
|
|
|||||
9/27/2019
|
|
10/15/2019
|
|
0.2875
|
|
|
0.2226
|
|
|
—
|
|
|
0.0649
|
|
|
0.2226
|
|
|||||
Totals
|
|
|
|
$
|
1.1500
|
|
|
$
|
0.8904
|
|
|
$
|
—
|
|
|
$
|
0.2596
|
|
|
$
|
0.8904
|
|
|
|
Year Ended December 31,
|
||||||||||||||||||
(In thousands, except per share data)
|
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
2015
|
||||||||||
Revenues
|
|
$
|
160,233
|
|
|
$
|
143,635
|
|
|
$
|
133,209
|
|
|
$
|
124,018
|
|
|
$
|
33,456
|
|
Net income available to common shareholders (1)
|
|
$
|
72,616
|
|
|
$
|
82,398
|
|
|
$
|
71,394
|
|
|
$
|
156,809
|
|
|
$
|
5,699
|
|
Earnings per share:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic
|
|
$
|
1.06
|
|
|
$
|
1.29
|
|
|
$
|
1.18
|
|
|
$
|
2.75
|
|
|
—
|
|
|
Diluted
|
|
$
|
1.06
|
|
|
$
|
1.28
|
|
|
$
|
1.18
|
|
|
$
|
2.63
|
|
|
—
|
|
|
Cash dividends declared per share of common stock
|
|
$
|
1.1675
|
|
|
$
|
1.1125
|
|
|
$
|
1.0025
|
|
|
NA
|
|
|
NA
|
|
(1)
|
For the year ended December 31, 2016, net income available to common shareholders includes a deferred tax benefit of $80.4 million resulting from our REIT election.
|
|
|
At December 31,
|
||||||||||||||||||
(In thousands)
|
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
2015
|
||||||||||
Real estate investments:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Land
|
|
$
|
690,575
|
|
|
$
|
569,057
|
|
|
$
|
449,331
|
|
|
$
|
421,941
|
|
|
$
|
404,812
|
|
Buildings, equipment and improvements
|
|
1,277,159
|
|
|
1,236,224
|
|
|
1,115,624
|
|
|
1,055,624
|
|
|
992,418
|
|
|||||
Total real estate investments
|
|
1,967,734
|
|
|
1,805,281
|
|
|
1,564,955
|
|
|
1,477,565
|
|
|
1,397,230
|
|
|||||
Less: accumulated depreciation
|
|
(635,630
|
)
|
|
(614,584
|
)
|
|
(598,846
|
)
|
|
(583,307
|
)
|
|
(568,539
|
)
|
|||||
Total real estate investments, net
|
|
$
|
1,332,104
|
|
|
$
|
1,190,697
|
|
|
$
|
966,109
|
|
|
$
|
894,258
|
|
|
$
|
828,691
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Total assets
|
|
$
|
1,446,070
|
|
|
$
|
1,343,098
|
|
|
$
|
1,068,659
|
|
|
$
|
937,151
|
|
|
$
|
929,437
|
|
Total liabilities
|
|
719,329
|
|
|
644,134
|
|
|
546,391
|
|
|
467,034
|
|
|
487,795
|
|
|||||
Total equity
|
|
726,741
|
|
|
698,964
|
|
|
522,268
|
|
|
470,117
|
|
|
441,642
|
|
|
|
Year Ended December 31,
|
||||||||||||||||||
(In thousands)
|
|
2019
|
|
2018
|
|
2017
|
|
2016
|
|
2015
|
||||||||||
Cash flows provided by operating activities
|
|
$
|
104,673
|
|
|
$
|
80,883
|
|
|
$
|
78,945
|
|
|
$
|
70,939
|
|
|
$
|
21,693
|
|
Cash flows used in investing activities
|
|
(207,353
|
)
|
|
(247,046
|
)
|
|
(80,414
|
)
|
|
(59,322
|
)
|
|
(556
|
)
|
|||||
Cash flows provided by (used in) financing activities
|
|
14,521
|
|
|
190,034
|
|
|
44,197
|
|
|
(83,047
|
)
|
|
76,929
|
|
•
|
699 free-standing properties located in 46 states and representing an aggregate leasable area of 4.6 million square feet;
|
•
|
99.7% occupancy (based on leasable square footage);
|
•
|
An average remaining lease term of 11.1 years (weighted by annualized base rent);
|
•
|
An average annual rent escalation of 1.5% through December 31, 2029 (weighted by annualized base rent); and
|
•
|
72% investment-grade tenancy (weighted by annualized base rent).
|
|
|
Year Ended December 31,
|
||||||||||
(In thousands)
|
|
2019
|
|
2018
|
|
2017
|
||||||
Revenues:
|
|
|
|
|
|
|
||||||
Rental
|
|
$
|
139,682
|
|
|
$
|
123,665
|
|
|
$
|
113,937
|
|
Restaurant
|
|
20,551
|
|
|
19,970
|
|
|
19,272
|
|
|||
Total revenues
|
|
160,233
|
|
|
143,635
|
|
|
133,209
|
|
|||
Operating expenses:
|
|
|
|
|
|
|
||||||
General and administrative
|
|
13,934
|
|
|
13,206
|
|
|
11,976
|
|
|||
Depreciation and amortization
|
|
26,312
|
|
|
23,884
|
|
|
21,811
|
|
|||
Property
|
|
1,579
|
|
|
433
|
|
|
283
|
|
|||
Restaurant
|
|
19,632
|
|
|
19,014
|
|
|
18,652
|
|
|||
Total operating expenses
|
|
61,457
|
|
|
56,537
|
|
|
52,722
|
|
|||
Interest expense
|
|
(26,516
|
)
|
|
(19,959
|
)
|
|
(19,469
|
)
|
|||
Other income, net
|
|
944
|
|
|
781
|
|
|
324
|
|
|||
Realized gain on sale, net
|
|
—
|
|
|
15,271
|
|
|
10,532
|
|
|||
Income tax (expense) benefit
|
|
(265
|
)
|
|
(262
|
)
|
|
18
|
|
|||
Net income
|
|
72,939
|
|
|
82,929
|
|
|
71,892
|
|
|||
Net income attributable to noncontrolling interest
|
|
(323
|
)
|
|
(531
|
)
|
|
(498
|
)
|
|||
Net Income Available to Common Shareholders
|
|
$
|
72,616
|
|
|
$
|
82,398
|
|
|
$
|
71,394
|
|
|
|
Year Ended December 31,
|
||||||||||||
|
|
2019
|
|
2018
|
||||||||||
(Dollars in thousands)
|
|
$
|
|
% of Segment Revenues
|
|
$
|
|
% of Segment Revenues
|
||||||
Restaurant revenues
|
|
$
|
20,551
|
|
|
100.0
|
%
|
|
$
|
19,970
|
|
|
100.0
|
%
|
Restaurant expenses:
|
|
|
|
|
|
|
|
|
||||||
Food and beverage
|
|
7,837
|
|
|
38.1
|
%
|
|
7,594
|
|
|
38.0
|
%
|
||
Restaurant labor
|
|
6,570
|
|
|
32.0
|
%
|
|
6,180
|
|
|
30.9
|
%
|
||
Other restaurant expenses (1)
|
|
5,635
|
|
|
27.4
|
%
|
|
5,641
|
|
|
28.2
|
%
|
||
Total restaurant expenses
|
|
20,042
|
|
|
97.5
|
%
|
|
19,415
|
|
|
97.2
|
%
|
||
Restaurant Operations, Net
|
|
$
|
509
|
|
|
|
|
$
|
555
|
|
|
|
(In millions)
|
|
Less than 1 Year
|
|
1 – 3 Years
|
|
3 – 5 Years
|
|
More than 5 Years
|
|
Total
|
||||||||||
Long-term debt (1)
|
|
$
|
—
|
|
|
$
|
202.0
|
|
|
$
|
300.0
|
|
|
$
|
175.0
|
|
|
$
|
677.0
|
|
Interest payments on long-term obligations (2)
|
|
24.9
|
|
|
46.7
|
|
|
27.5
|
|
|
23.0
|
|
|
122.1
|
|
|||||
Commitments under non-cancellable operating leases
|
|
0.4
|
|
|
0.1
|
|
|
—
|
|
|
—
|
|
|
0.5
|
|
|||||
Total Contractual Obligations and Commitments
|
|
$
|
25.3
|
|
|
$
|
248.8
|
|
|
$
|
327.5
|
|
|
$
|
198.0
|
|
|
$
|
799.6
|
|
|
|
Year Ended December 31,
|
||||||||||
(In thousands, except share and per share data)
|
|
2019
|
|
2018
|
|
2017
|
||||||
Net income
|
|
$
|
72,939
|
|
|
$
|
82,929
|
|
|
$
|
71,892
|
|
Depreciation and amortization
|
|
26,158
|
|
|
22,287
|
|
|
21,547
|
|
|||
Realized gain on sales of real estate
|
|
—
|
|
|
(15,271
|
)
|
|
(10,532
|
)
|
|||
Provision for impairment
|
|
—
|
|
|
1,530
|
|
|
228
|
|
|||
Realized gain on exchange of real estate (1)
|
|
—
|
|
|
(228
|
)
|
|
—
|
|
|||
Funds from Operations (FFO) (as defined by NAREIT)
|
|
99,097
|
|
|
91,247
|
|
|
83,135
|
|
|||
Straight-line rent adjustment
|
|
(9,207
|
)
|
|
(9,288
|
)
|
|
(9,536
|
)
|
|||
Stock-based compensation expense
|
|
3,602
|
|
|
3,967
|
|
|
2,676
|
|
|||
Non-cash amortization of deferred financing costs
|
|
2,050
|
|
|
1,834
|
|
|
2,144
|
|
|||
Other non-cash interest expense (income)
|
|
(4
|
)
|
|
29
|
|
|
145
|
|
|||
Non-real estate investment depreciation
|
|
154
|
|
|
67
|
|
|
36
|
|
|||
Amortization of above and below market leases, net
|
|
158
|
|
|
64
|
|
|
—
|
|
|||
Adjusted Funds from Operations (AFFO)
|
|
$
|
95,850
|
|
|
$
|
87,920
|
|
|
$
|
78,600
|
|
|
|
|
|
|
|
|
||||||
Fully diluted shares outstanding (2)
|
|
68,937,263
|
|
|
64,798,250
|
|
|
61,014,256
|
|
|||
|
|
|
|
|
|
|
||||||
FFO per diluted share
|
|
$
|
1.44
|
|
|
$
|
1.41
|
|
|
$
|
1.36
|
|
|
|
|
|
|
|
|
||||||
AFFO per diluted share
|
|
$
|
1.39
|
|
|
$
|
1.36
|
|
|
$
|
1.29
|
|
|
|
|
|
|
|
|
||||||
(1) Non-cash gain recognized for GAAP purposes on the transfer of nonfinancial assets related to an excess land parcel exchange.
|
||||||||||||
(2) Assumes the issuance of common shares for OP units held by non-controlling interests.
|
1.
|
Transaction costs incurred in connection with business combinations
|
2.
|
Straight-line rent revenue adjustment
|
3.
|
Stock-based compensation expense
|
4.
|
Non-cash amortization of deferred financing costs
|
5.
|
Other non-cash interest expense (income)
|
6.
|
Non-real estate investment depreciation
|
7.
|
Merger, restructuring and other related costs
|
8.
|
Impairment charges
|
9.
|
Amortization of above and below market leases
|
10.
|
Amortization of capitalized leasing costs
|
11.
|
Debt extinguishment gains and losses
|
12.
|
Recurring capital expenditures and tenant improvements
|
Audited Consolidated Financial Statements
|
|
|
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
|
|
|
December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
ASSETS
|
|
|
|
|
||||
Real estate investments:
|
|
|
|
|
||||
Land
|
|
$
|
690,575
|
|
|
$
|
569,057
|
|
Buildings, equipment and improvements
|
|
1,277,159
|
|
|
1,236,224
|
|
||
Total real estate investments
|
|
1,967,734
|
|
|
1,805,281
|
|
||
Less: Accumulated depreciation
|
|
(635,630
|
)
|
|
(614,584
|
)
|
||
Real estate investments, net
|
|
1,332,104
|
|
|
1,190,697
|
|
||
Intangible real estate assets, net
|
|
57,917
|
|
|
18,998
|
|
||
Total real estate investments and intangible real estate assets, net
|
|
1,390,021
|
|
|
1,209,695
|
|
||
Cash and cash equivalents
|
|
5,083
|
|
|
92,041
|
|
||
Straight-line rent adjustment
|
|
39,350
|
|
|
30,141
|
|
||
Derivative assets
|
|
1,451
|
|
|
5,982
|
|
||
Other assets
|
|
10,165
|
|
|
5,239
|
|
||
Total Assets
|
|
$
|
1,446,070
|
|
|
$
|
1,343,098
|
|
|
|
|
|
|
||||
LIABILITIES AND EQUITY
|
|
|
|
|
||||
Liabilities:
|
|
|
|
|
||||
Long-term debt, net of deferred financing costs
|
|
$
|
669,940
|
|
|
$
|
615,892
|
|
Dividends payable
|
|
21,325
|
|
|
19,580
|
|
||
Rent received in advance
|
|
10,463
|
|
|
1,609
|
|
||
Derivative liabilities
|
|
5,005
|
|
|
—
|
|
||
Other liabilities
|
|
12,596
|
|
|
7,053
|
|
||
Total liabilities
|
|
719,329
|
|
|
644,134
|
|
||
Equity:
|
|
|
|
|
||||
Preferred stock, par value $0.0001 per share, 25,000,000 authorized, zero shares issued and outstanding.
|
|
—
|
|
|
—
|
|
||
Common stock, par value $0.0001 per share; 500,000,000 shares authorized, 70,020,660 and 68,204,045 shares issued and outstanding at December 31, 2019 and 2018, respectively
|
|
7
|
|
|
7
|
|
||
Additional paid-in capital
|
|
686,181
|
|
|
639,116
|
|
||
Retained earnings
|
|
38,401
|
|
|
46,018
|
|
||
Accumulated other comprehensive (loss) income
|
|
(3,539
|
)
|
|
5,956
|
|
||
Noncontrolling interests
|
|
5,691
|
|
|
7,867
|
|
||
Total equity
|
|
726,741
|
|
|
698,964
|
|
||
Total Liabilities and Equity
|
|
$
|
1,446,070
|
|
|
$
|
1,343,098
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Revenues:
|
|
|
|
|
|
|
||||||
Rental
|
|
$
|
139,682
|
|
|
$
|
123,665
|
|
|
$
|
113,937
|
|
Restaurant
|
|
20,551
|
|
|
19,970
|
|
|
19,272
|
|
|||
Total revenues
|
|
160,233
|
|
|
143,635
|
|
|
133,209
|
|
|||
Operating expenses:
|
|
|
|
|
|
|
||||||
General and administrative
|
|
13,934
|
|
|
13,206
|
|
|
11,976
|
|
|||
Depreciation and amortization
|
|
26,312
|
|
|
23,884
|
|
|
21,811
|
|
|||
Property
|
|
1,579
|
|
|
433
|
|
|
283
|
|
|||
Restaurant
|
|
19,632
|
|
|
19,014
|
|
|
18,652
|
|
|||
Total operating expenses
|
|
61,457
|
|
|
56,537
|
|
|
52,722
|
|
|||
Interest expense
|
|
(26,516
|
)
|
|
(19,959
|
)
|
|
(19,469
|
)
|
|||
Other income, net
|
|
944
|
|
|
781
|
|
|
324
|
|
|||
Realized gain on sale, net
|
|
—
|
|
|
15,271
|
|
|
10,532
|
|
|||
Income tax (expense) benefit
|
|
(265
|
)
|
|
(262
|
)
|
|
18
|
|
|||
Net income
|
|
72,939
|
|
|
82,929
|
|
|
71,892
|
|
|||
Net income attributable to noncontrolling interest
|
|
(323
|
)
|
|
(531
|
)
|
|
(498
|
)
|
|||
Net Income Available to Common Shareholders
|
|
$
|
72,616
|
|
|
$
|
82,398
|
|
|
$
|
71,394
|
|
|
|
|
|
|
|
|
||||||
Basic net income per share:
|
|
$
|
1.06
|
|
|
$
|
1.29
|
|
|
$
|
1.18
|
|
Diluted net income per share:
|
|
$
|
1.06
|
|
|
$
|
1.28
|
|
|
$
|
1.18
|
|
Weighted average number of common shares outstanding:
|
|
|
|
|
|
|
||||||
Basic
|
|
68,430,841
|
|
|
64,041,255
|
|
|
60,627,423
|
|
|||
Diluted
|
|
68,632,010
|
|
|
64,388,929
|
|
|
60,695,834
|
|
|||
Dividends declared per common share
|
|
$
|
1.1675
|
|
|
$
|
1.1125
|
|
|
$
|
1.0025
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Net income
|
|
$
|
72,939
|
|
|
$
|
82,929
|
|
|
$
|
71,892
|
|
Realized and unrealized (loss) gain on hedging instruments
|
|
(9,540
|
)
|
|
1,022
|
|
|
4,297
|
|
|||
Comprehensive income
|
|
63,399
|
|
|
83,951
|
|
|
76,189
|
|
|||
Less: comprehensive income attributable to noncontrolling interest
|
|
(278
|
)
|
|
(542
|
)
|
|
(524
|
)
|
|||
Comprehensive Income Attributable to Common Shareholders
|
|
$
|
63,121
|
|
|
$
|
83,409
|
|
|
$
|
75,665
|
|
|
|
|
|
|
|
|
|
|
Common Stock
|
|
Additional Paid-in Capital
|
|
Retained Earnings
|
|
Accumulated Other Comprehensive Income (Loss)
|
|
Noncontrolling Interest
|
|
Total
|
||||||||||||||
|
|
Shares
|
|
Amount
|
||||||||||||||||||||||
Balance at December 31, 2016
|
|
59,923,557
|
|
|
6
|
|
|
$
|
438,864
|
|
|
$
|
25,943
|
|
|
$
|
207
|
|
|
$
|
5,097
|
|
|
$
|
470,117
|
|
Issuance of OP units
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,620
|
|
|
2,620
|
|
|||||
Net income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
71,394
|
|
|
—
|
|
|
498
|
|
|
71,892
|
|
|||||
Realized and unrealized gain on derivative instruments
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4,271
|
|
|
26
|
|
|
4,297
|
|
|||||
Dividends and distributions paid and declared on common stock and OP units
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(61,019
|
)
|
|
—
|
|
|
(460
|
)
|
|
(61,479
|
)
|
|||||
ATM proceeds, net of issuance costs
|
|
1,347,010
|
|
|
—
|
|
|
32,145
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
32,145
|
|
|||||
Stock-based compensation, net
|
|
58,922
|
|
|
—
|
|
|
2,676
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,676
|
|
|||||
Balance at December 31, 2017
|
|
61,329,489
|
|
|
6
|
|
|
473,685
|
|
|
36,318
|
|
|
4,478
|
|
|
7,781
|
|
|
522,268
|
|
|||||
ASU 2017-12 Transition Adjustment
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(467
|
)
|
|
467
|
|
|
—
|
|
|
—
|
|
|||||
Net income
|
|
—
|
|
|
—
|
|
|
|
|
82,398
|
|
|
—
|
|
|
531
|
|
|
82,929
|
|
||||||
Realized and unrealized gain on derivative instruments
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,011
|
|
|
11
|
|
|
1,022
|
|
|||||
Equity offering, net of issuance costs
|
|
4,025,000
|
|
|
1
|
|
|
96,324
|
|
|
—
|
|
|
|
|
|
|
96,325
|
|
|||||||
Dividends and distributions paid and declared on common stock and OP units
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(72,231
|
)
|
|
—
|
|
|
(456
|
)
|
|
(72,687
|
)
|
|||||
ATM proceeds, net of issuance costs
|
|
2,716,090
|
|
|
—
|
|
|
65,533
|
|
|
|
|
—
|
|
|
—
|
|
|
65,533
|
|
||||||
Stock-based compensation, net
|
|
133,466
|
|
|
—
|
|
|
3,574
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3,574
|
|
|||||
Balance at December 31, 2018
|
|
68,204,045
|
|
|
7
|
|
|
639,116
|
|
|
46,018
|
|
|
5,956
|
|
|
7,867
|
|
|
698,964
|
|
|||||
Net income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
72,616
|
|
|
—
|
|
|
323
|
|
|
72,939
|
|
|||||
Realized and unrealized loss on derivative instruments
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(9,495
|
)
|
|
(45
|
)
|
|
(9,540
|
)
|
|||||
Redemption of OP units
|
|
5,966
|
|
|
—
|
|
|
(1,068
|
)
|
|
—
|
|
|
—
|
|
|
(2,099
|
)
|
|
(3,167
|
)
|
|||||
Dividends paid and declared on common stock
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(80,233
|
)
|
|
—
|
|
|
(355
|
)
|
|
(80,588
|
)
|
|||||
ATM proceeds, net of issuance costs
|
|
1,663,116
|
|
|
—
|
|
|
47,233
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
47,233
|
|
|||||
Stock-based compensation, net
|
|
147,533
|
|
|
—
|
|
|
900
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
900
|
|
|||||
Balance at December 31, 2019
|
|
70,020,660
|
|
|
7
|
|
|
$
|
686,181
|
|
|
$
|
38,401
|
|
|
$
|
(3,539
|
)
|
|
$
|
5,691
|
|
|
$
|
726,741
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Cash flows - operating activities
|
|
|
|
|
|
|
||||||
Net income
|
|
$
|
72,939
|
|
|
$
|
82,929
|
|
|
71,892
|
|
|
Adjustments to reconcile net income to cash provided by operating activities:
|
|
|
|
|
|
|
||||||
Depreciation and amortization
|
|
26,312
|
|
|
23,884
|
|
|
21,811
|
|
|||
Gain on disposal of land, building, and equipment
|
|
—
|
|
|
(15,271
|
)
|
|
(10,532
|
)
|
|||
Gain on exchange of non-financial assets
|
|
—
|
|
|
(228
|
)
|
|
—
|
|
|||
Non-cash revenue adjustments
|
|
158
|
|
|
64
|
|
|
—
|
|
|||
Amortization of financing costs
|
|
2,050
|
|
|
1,834
|
|
|
2,144
|
|
|||
Stock-based compensation expense
|
|
3,602
|
|
|
3,967
|
|
|
2,676
|
|
|||
Deferred income taxes
|
|
—
|
|
|
—
|
|
|
(196
|
)
|
|||
Changes in assets and liabilities:
|
|
|
|
|
|
|
||||||
Derivative assets and liabilities
|
|
(4
|
)
|
|
29
|
|
|
145
|
|
|||
Straight-line rent adjustment
|
|
(9,207
|
)
|
|
(9,288
|
)
|
|
(9,536
|
)
|
|||
Rent received in advance
|
|
8,854
|
|
|
(6,686
|
)
|
|
321
|
|
|||
Other assets and liabilities
|
|
(31
|
)
|
|
(351
|
)
|
|
220
|
|
|||
Net cash provided by operating activities
|
|
104,673
|
|
|
80,883
|
|
|
78,945
|
|
|||
Cash flows - investing activities
|
|
|
|
|
|
|
||||||
Investments in real estate
|
|
(205,154
|
)
|
|
(268,266
|
)
|
|
(95,112
|
)
|
|||
Net proceeds from sale of operating real estate
|
|
—
|
|
|
21,139
|
|
|
15,645
|
|
|||
Advance deposits on acquisition of operating real estate
|
|
(2,199
|
)
|
|
81
|
|
|
(947
|
)
|
|||
Net cash used in investing activities
|
|
(207,353
|
)
|
|
(247,046
|
)
|
|
(80,414
|
)
|
|||
Cash flows - financing activities
|
|
|
|
|
|
|
||||||
Net proceeds from ATM equity issuance
|
|
47,233
|
|
|
65,533
|
|
|
32,145
|
|
|||
Net proceeds from equity offering
|
|
—
|
|
|
96,325
|
|
|
—
|
|
|||
Proceeds from issuance of senior notes
|
|
—
|
|
|
100,000
|
|
|
125,000
|
|
|||
Payment of deferred financing costs
|
|
—
|
|
|
(1,481
|
)
|
|
(5,500
|
)
|
|||
Proceeds from revolving credit facility
|
|
52,000
|
|
|
25,000
|
|
|
36,000
|
|
|||
Repayment of revolving credit facility
|
|
—
|
|
|
(25,000
|
)
|
|
(81,000
|
)
|
|||
Payment of dividend to shareholders
|
|
(78,488
|
)
|
|
(69,494
|
)
|
|
(58,695
|
)
|
|||
Distribution to non-controlling interests
|
|
(355
|
)
|
|
(456
|
)
|
|
(460
|
)
|
|||
Redemption of non-controlling interests
|
|
(3,167
|
)
|
|
—
|
|
|
(988
|
)
|
|||
Repayment of debt assumed in purchase of real estate investments
|
|
—
|
|
|
—
|
|
|
(2,305
|
)
|
|||
Shares withheld for taxes upon vesting
|
|
(2,702
|
)
|
|
(393
|
)
|
|
—
|
|
|||
Net cash provided by financing activities
|
|
14,521
|
|
|
190,034
|
|
|
44,197
|
|
|||
Net (decrease) increase in cash and cash equivalents, including restricted cash
|
|
(88,159
|
)
|
|
23,871
|
|
|
42,728
|
|
|||
Cash and cash equivalents, including restricted cash, beginning of year
|
|
93,242
|
|
|
69,371
|
|
|
26,643
|
|
|||
Cash and cash equivalents, including restricted cash, ending of year
|
|
$
|
5,083
|
|
|
$
|
93,242
|
|
|
$
|
69,371
|
|
Supplemental disclosures:
|
|
|
|
|
|
|
||||||
Interest paid
|
|
$
|
25,948
|
|
|
$
|
20,218
|
|
|
$
|
14,102
|
|
Taxes paid
|
|
$
|
589
|
|
|
$
|
470
|
|
|
$
|
561
|
|
Operating lease payments received (lessor)
|
|
$
|
129,699
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Operating lease payments remitted (lessee)
|
|
$
|
415
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Non - cash investing and financing activities:
|
|
|
|
|
|
|
||||||
Dividends declared but not paid
|
|
$
|
21,325
|
|
|
$
|
19,580
|
|
|
$
|
16,843
|
|
Debt assumed in acquisition of real estate investments
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,305
|
|
Change in fair value of derivative instruments
|
|
$
|
(9,536
|
)
|
|
$
|
993
|
|
|
$
|
4,152
|
|
Operating partner units issued in exchange for real estate investments
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
3,609
|
|
|
|
December 31,
|
||||||||||
(In thousands)
|
|
2019
|
|
2018
|
|
2017
|
||||||
Cash and cash equivalents
|
|
$
|
5,083
|
|
|
$
|
92,041
|
|
|
$
|
64,466
|
|
Restricted cash (included in Other assets)
|
|
—
|
|
|
1,201
|
|
|
4,905
|
|
|||
Total Cash, Cash Equivalents, and Restricted Cash
|
|
$
|
5,083
|
|
|
$
|
93,242
|
|
|
$
|
69,371
|
|
•
|
Level 1 - Quoted market prices in active markets for identical assets or liabilities;
|
•
|
Level 2 - Inputs other than level 1 inputs that are either directly or indirectly observable; and
|
•
|
Level 3 - Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.
|
|
|
December 31,
|
||||||
(In thousands)
|
|
2019
|
|
2018
|
||||
Land
|
|
$
|
690,575
|
|
|
$
|
569,057
|
|
Buildings and improvements
|
|
1,142,275
|
|
|
1,099,591
|
|
||
Equipment
|
|
134,884
|
|
|
136,633
|
|
||
Total gross real estate investments
|
|
1,967,734
|
|
|
1,805,281
|
|
||
Less: accumulated depreciation
|
|
(635,630
|
)
|
|
(614,584
|
)
|
||
Real estate investments, net
|
|
1,332,104
|
|
|
1,190,697
|
|
||
Intangible real estate assets, net
|
|
57,917
|
|
|
18,998
|
|
||
Total Real Estate Investments and Intangible Real Estate Assets, Net
|
|
$
|
1,390,021
|
|
|
$
|
1,209,695
|
|
|
|
December 31,
|
||||||
(In thousands)
|
|
2019
|
|
2018
|
||||
Acquired in-place lease intangibles
|
|
$
|
38,844
|
|
|
$
|
19,079
|
|
Above-market leases
|
|
7,754
|
|
|
1,318
|
|
||
Finance lease - right of use assets
|
|
16,063
|
|
|
—
|
|
||
Total
|
|
62,661
|
|
|
20,397
|
|
||
Less: accumulated amortization
|
|
(4,744
|
)
|
|
(1,399
|
)
|
||
Intangible Lease Assets, Net
|
|
$
|
57,917
|
|
|
$
|
18,998
|
|
|
|
December 31,
|
||||||
(In thousands)
|
|
2019
|
|
2018
|
||||
Below-market leases
|
|
$
|
1,923
|
|
|
$
|
610
|
|
Less: accumulated amortization
|
|
(155
|
)
|
|
(33
|
)
|
||
Intangible Lease Liabilities, Net
|
|
$
|
1,768
|
|
|
$
|
577
|
|
(In thousands)
|
|
December 31, 2019
|
||
2020
|
|
$
|
5,347
|
|
2021
|
|
4,960
|
|
|
2022
|
|
4,655
|
|
|
2023
|
|
3,893
|
|
|
2024
|
|
3,494
|
|
|
Thereafter
|
|
17,737
|
|
|
Total Future Amortization Expense
|
|
$
|
40,086
|
|
(In thousands)
|
|
December 31, 2018
|
|
Upon Adoption (January 1, 2019)
|
|
As Adjusted
|
||||||
Operating lease right-of-use asset (included in other assets)
|
|
$
|
—
|
|
|
$
|
5,723
|
|
|
$
|
5,723
|
|
Operating lease liability (included in other liabilities)
|
|
—
|
|
|
6,425
|
|
|
6,425
|
|
|||
Deferred rent payable
|
|
702
|
|
|
(702
|
)
|
|
—
|
|
(In thousands)
|
|
December 31, 2019
|
||
2020
|
|
$
|
265
|
|
2021
|
|
282
|
|
|
2022
|
|
290
|
|
|
2023
|
|
290
|
|
|
2024
|
|
290
|
|
|
Thereafter
|
|
5,671
|
|
|
Total Payments
|
|
7,088
|
|
|
Less: Interest
|
|
(2,685
|
)
|
|
Operating Lease Liability
|
|
$
|
4,403
|
|
(In thousands)
|
|
December 31, 2018
|
||
2019
|
|
$
|
550
|
|
2020
|
|
400
|
|
|
2021
|
|
103
|
|
|
2022 and thereafter
|
|
—
|
|
|
Total Future Lease Commitments
|
|
$
|
1,053
|
|
(In thousands)
|
|
Year Ended December 31, 2019
|
||
Lease revenue - operating leases
|
|
$
|
138,746
|
|
Variable lease revenue (tenant reimbursements)
|
|
936
|
|
|
Total Rental Revenue
|
|
$
|
139,682
|
|
(In thousands)
|
|
December 31, 2019
|
||
2020
|
|
$
|
140,395
|
|
2021
|
|
141,993
|
|
|
2022
|
|
143,263
|
|
|
2023
|
|
143,987
|
|
|
2024
|
|
145,732
|
|
|
Thereafter
|
|
1,010,660
|
|
|
Total Future Minimum Lease Payments
|
|
$
|
1,726,030
|
|
|
|
|
|
|
|
Outstanding Balance
|
|||||||
|
|
Maturity
|
|
Interest
|
|
December 31,
|
|||||||
(Dollars in thousands)
|
|
Date
|
|
Rate
|
|
2019
|
|
2018
|
|||||
Notes Payable:
|
|
|
|
|
|
|
|
|
|||||
Senior unsecured fixed rate note, issued June 2017
|
|
Jun 2024
|
|
4.68
|
%
|
|
$
|
50,000
|
|
|
$
|
50,000
|
|
Senior unsecured fixed rate note, issued June 2017
|
|
Jun 2027
|
|
4.93
|
%
|
|
75,000
|
|
|
75,000
|
|
||
Senior unsecured fixed rate note, issued December 2018
|
|
Dec 2026
|
|
4.63
|
%
|
|
50,000
|
|
|
50,000
|
|
||
Senior unsecured fixed rate note, issued December 2018
|
|
Dec 2028
|
|
4.76
|
%
|
|
50,000
|
|
|
50,000
|
|
||
Total Notes
|
|
|
|
|
|
$
|
225,000
|
|
|
$
|
225,000
|
|
|
|
Derivative Assets
|
|
Derivative Liabilities
|
||||||||||||||||
|
|
Balance Sheet Location
|
|
Fair Value at December 31,
|
|
Balance Sheet Location
|
|
Fair Value at December 31,
|
||||||||||||
(Dollars in thousands)
|
|
|
2019
|
|
2018
|
|
|
2019
|
|
2018
|
||||||||||
Derivatives designated as hedging instruments:
|
|
|
|
|
|
|
|
|
||||||||||||
Interest rate swaps
|
|
Derivative assets
|
|
$
|
1,451
|
|
|
$
|
5,982
|
|
|
Derivative liabilities
|
|
$
|
5,005
|
|
|
$
|
—
|
|
Total
|
|
|
|
$
|
1,451
|
|
|
$
|
5,982
|
|
|
|
|
$
|
5,005
|
|
|
$
|
—
|
|
(Dollars in thousands)
|
|
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)
|
|
Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
|
|
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
|
|
Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
|
|
Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amounts Excluded from Effectiveness Testing)
|
|
Total Amount of Interest Expense Presented in the Consolidated Income Statements
|
||||||||
Interest rate swaps
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Year Ended
December 31, 2019
|
|
$
|
(7,818
|
)
|
|
Interest expense
|
|
$
|
1,722
|
|
|
Interest expense
|
|
$
|
—
|
|
|
$
|
26,516
|
|
Year Ended
December 31, 2018
|
|
3,257
|
|
|
Interest expense
|
|
2,235
|
|
|
Interest expense
|
|
—
|
|
|
19,959
|
|
||||
Year Ended
December 31, 2017
|
|
2,942
|
|
|
Interest expense
|
|
(1,355
|
)
|
|
Interest expense
|
|
54
|
|
|
19,469
|
|
Offsetting of Derivative Liabilities
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
|
Gross Amounts of Recognized Liabilities
|
|
Gross Amounts Offset in the Consolidated Balance Sheets
|
|
Net Amounts of Liabilities Presented in the Consolidated Balance Sheets
|
|
Gross Amounts Not Offset in the Consolidated Balance Sheets
|
|
|
||||||||||||||
(In thousands)
|
|
|
|
|
Financial Instruments
|
|
Cash Collateral Posted
|
|
Net Amount
|
|||||||||||||||
December 31, 2019
|
|
$
|
5,005
|
|
|
$
|
—
|
|
|
$
|
5,005
|
|
|
$
|
(1,451
|
)
|
|
$
|
—
|
|
|
$
|
3,554
|
|
December 31, 2018
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
December 31,
|
||||||
(In thousands)
|
|
2019
|
|
2018
|
||||
Prepaid acquisition costs
|
|
$
|
4,219
|
|
|
$
|
1,802
|
|
Operating lease right-of-use asset
|
|
3,810
|
|
|
—
|
|
||
Prepaid assets
|
|
845
|
|
|
815
|
|
||
Accounts receivable
|
|
380
|
|
|
782
|
|
||
Inventories
|
|
196
|
|
|
183
|
|
||
Escrow deposits
|
|
—
|
|
|
1,201
|
|
||
Other
|
|
715
|
|
|
456
|
|
||
Total Other Assets
|
|
$
|
10,165
|
|
|
$
|
5,239
|
|
|
|
December 31,
|
||||||
(In thousands)
|
|
2019
|
|
2018
|
||||
Operating lease liability
|
|
$
|
4,403
|
|
|
$
|
—
|
|
Accrued compensation
|
|
1,913
|
|
|
1,714
|
|
||
Intangible lease liabilities, net
|
|
1,768
|
|
|
577
|
|
||
Accrued interest expense
|
|
1,572
|
|
|
1,586
|
|
||
Accounts payable
|
|
799
|
|
|
986
|
|
||
Accrued operating expenses
|
|
396
|
|
|
486
|
|
||
Other
|
|
1,745
|
|
|
1,704
|
|
||
Total Other Liabilities
|
|
$
|
12,596
|
|
|
$
|
7,053
|
|
|
|
Year Ended December 31,
|
||||||||||
(In thousands except share and per share data)
|
|
2019
|
|
2018
|
|
2017
|
||||||
Average common shares outstanding – basic
|
|
68,430,841
|
|
|
64,041,255
|
|
|
60,627,423
|
|
|||
Effect of dilutive stock based compensation
|
|
201,169
|
|
|
347,674
|
|
|
68,411
|
|
|||
Average common shares outstanding – diluted
|
|
68,632,010
|
|
|
64,388,929
|
|
|
60,695,834
|
|
|||
Net income
|
|
$
|
72,939
|
|
|
$
|
82,929
|
|
|
$
|
71,892
|
|
Basic net earnings per share
|
|
$
|
1.06
|
|
|
$
|
1.29
|
|
|
$
|
1.18
|
|
Diluted net earnings per share
|
|
$
|
1.06
|
|
|
$
|
1.28
|
|
|
$
|
1.18
|
|
|
|
Year Ended December 31,
|
||||||||||
(In thousands)
|
|
2019
|
|
2018
|
|
2017
|
||||||
Current:
|
|
|
|
|
|
|
||||||
Federal
|
|
$
|
3
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Current state and local
|
|
262
|
|
|
262
|
|
|
178
|
|
|||
Total current
|
|
265
|
|
|
262
|
|
|
178
|
|
|||
Deferred:
|
|
|
|
|
|
|
||||||
Federal deferred
|
|
—
|
|
|
—
|
|
|
(196
|
)
|
|||
State deferred
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Total deferred
|
|
—
|
|
|
—
|
|
|
(196
|
)
|
|||
Total Income Tax Expense (Benefit)
|
|
$
|
265
|
|
|
$
|
262
|
|
|
$
|
(18
|
)
|
|
|
Year Ended December 31,
|
|||||||
|
|
2019
|
|
2018
|
|
2017
|
|||
U.S. statutory rate
|
|
21.0
|
%
|
|
21.0
|
%
|
|
34.0
|
%
|
Current benefit
|
|
(21.0
|
)
|
|
(21.0
|
)
|
|
(34.1
|
)
|
State and local income taxes, net of federal tax benefits
|
|
0.8
|
|
|
0.7
|
|
|
0.1
|
|
Benefit of federal income tax credits
|
|
—
|
|
|
—
|
|
|
(0.5
|
)
|
Valuation allowance
|
|
—
|
|
|
—
|
|
|
0.4
|
|
Permanent differences
|
|
—
|
|
|
—
|
|
|
0.1
|
|
Effective Income Tax Rate
|
|
0.8
|
%
|
|
0.7
|
%
|
|
—
|
%
|
|
|
December 31,
|
||||||||||
(In thousands)
|
|
2019
|
|
2018
|
|
2017
|
||||||
Compensation and employee benefits
|
|
$
|
40
|
|
|
$
|
37
|
|
|
$
|
30
|
|
Charitable contribution and credit carryforwards
|
|
636
|
|
|
484
|
|
|
366
|
|
|||
Net operating losses
|
|
—
|
|
|
—
|
|
|
26
|
|
|||
Lease payable
|
|
139
|
|
|
148
|
|
|
137
|
|
|||
UNICAP
|
|
13
|
|
|
12
|
|
|
13
|
|
|||
Gross deferred tax assets
|
|
828
|
|
|
681
|
|
|
572
|
|
|||
Prepaid expenses
|
|
(25
|
)
|
|
(24
|
)
|
|
(23
|
)
|
|||
Straight-line rent
|
|
|
|
—
|
|
|
—
|
|
||||
Buildings and equipment (1)
|
|
(275
|
)
|
|
(284
|
)
|
|
(273
|
)
|
|||
Gross deferred tax liabilities
|
|
(300
|
)
|
|
(308
|
)
|
|
(296
|
)
|
|||
Valuation allowance
|
|
(528
|
)
|
|
(373
|
)
|
|
(276
|
)
|
|||
Net Deferred Tax Assets (Liabilities)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
(In thousands)
|
|
Restricted Stock Units
|
|
Restricted Stock Awards
|
|
Performance Stock Units
|
|
Total
|
||||||||
Unrecognized compensation cost at January 1, 2019
|
|
$
|
188
|
|
|
$
|
1,269
|
|
|
$
|
1,611
|
|
|
$
|
3,068
|
|
Equity grants
|
|
1,834
|
|
|
1,850
|
|
|
—
|
|
|
3,684
|
|
||||
Equity grant forfeitures
|
|
—
|
|
|
(27
|
)
|
|
—
|
|
|
(27
|
)
|
||||
Equity compensation expense
|
|
(732
|
)
|
|
(1,665
|
)
|
|
(1,205
|
)
|
|
(3,602
|
)
|
||||
Unrecognized Compensation Cost at December 31, 2019
|
|
$
|
1,290
|
|
|
$
|
1,427
|
|
|
$
|
406
|
|
|
$
|
3,123
|
|
|
|
Year Ended December 31,
|
|||||||||||||||||||
|
|
2019
|
|
2018
|
|
2017
|
|||||||||||||||
|
|
Units
|
|
Weighted Average Grant Date Fair Value
|
|
Units
|
|
Weighted Average Grant Date Fair Value
|
|
Units
|
|
Weighted Average Grant Date Fair Value
|
|||||||||
Outstanding at beginning of period
|
|
33,592
|
|
|
$
|
22.88
|
|
|
64,983
|
|
|
$
|
23.34
|
|
|
65,207
|
|
|
$
|
22.64
|
|
Units granted
|
|
67,368
|
|
|
$
|
27.17
|
|
|
17,896
|
|
|
$
|
23.19
|
|
|
9,379
|
|
|
$
|
25.78
|
|
Units vested
|
|
(9,487
|
)
|
|
$
|
23.19
|
|
|
(49,287
|
)
|
|
$
|
23.60
|
|
|
(9,603
|
)
|
|
$
|
20.96
|
|
Units forfeited
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
—
|
|
Outstanding at End of Period
|
|
91,473
|
|
|
$
|
26.00
|
|
|
33,592
|
|
|
$
|
22.88
|
|
|
64,983
|
|
|
$
|
23.34
|
|
|
|
Year Ended December 31,
|
|||||||||||||||||||
|
|
2019
|
|
2018
|
|
2017
|
|||||||||||||||
|
|
Units
|
|
Weighted Average Grant Date Fair Value
|
|
Units
|
|
Weighted Average Grant Date Fair Value
|
|
Units
|
|
Weighted Average Grant Date Fair Value
|
|||||||||
Outstanding at beginning of period
|
|
100,402
|
|
|
$
|
21.76
|
|
|
81,909
|
|
|
$
|
19.40
|
|
|
53,280
|
|
|
$
|
16.55
|
|
Units granted
|
|
69,547
|
|
|
$
|
26.60
|
|
|
67,845
|
|
|
$
|
23.76
|
|
|
48,378
|
|
|
$
|
21.58
|
|
Units vested
|
|
(67,621
|
)
|
|
$
|
22.08
|
|
|
(47,292
|
)
|
|
$
|
20.45
|
|
|
(19,749
|
)
|
|
$
|
16.55
|
|
Units forfeited
|
|
(1,061
|
)
|
|
$
|
25.16
|
|
|
(2,060
|
)
|
|
$
|
23.87
|
|
|
—
|
|
|
$
|
—
|
|
Outstanding at End of Period
|
|
101,267
|
|
|
$
|
24.83
|
|
|
100,402
|
|
|
$
|
21.76
|
|
|
81,909
|
|
|
$
|
19.40
|
|
|
|
|
|
|
|
|
|
|
||||||||
(In thousands)
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Derivative Assets
|
|
|
|
|
|
|
|
|
||||||||
December 31, 2019
|
|
$
|
—
|
|
|
$
|
1,451
|
|
|
$
|
—
|
|
|
$
|
1,451
|
|
December 31, 2018
|
|
—
|
|
|
5,982
|
|
|
—
|
|
|
5,982
|
|
||||
Derivative Liabilities
|
|
|
|
|
|
|
|
|
||||||||
December 31, 2019
|
|
$
|
—
|
|
|
$
|
5,005
|
|
|
$
|
—
|
|
|
$
|
5,005
|
|
December 31, 2018
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
December 31, 2019
|
|
|
|
|
||||
(In thousands)
|
|
Carrying Value
|
|
Fair Value
|
||||
Liabilities
|
|
|
|
|
||||
Term loan due 2022, excluding deferred financing costs
|
|
$
|
150,000
|
|
|
$
|
150,834
|
|
Term loan due 2023, excluding deferred financing costs
|
|
150,000
|
|
|
150,510
|
|
||
Term loan due 2024, excluding deferred financing costs
|
|
100,000
|
|
|
100,352
|
|
||
Senior note due June 2024, excluding deferred financing costs
|
|
50,000
|
|
|
52,496
|
|
||
Senior note due June 2027, excluding deferred financing costs
|
|
75,000
|
|
|
81,176
|
|
||
Senior note due June 2026, excluding deferred financing costs
|
|
50,000
|
|
|
52,946
|
|
||
Senior note due June 2028, excluding deferred financing costs
|
|
50,000
|
|
|
53,902
|
|
December 31, 2018
|
|
|
|
|
||||
(In thousands)
|
|
Carrying Value
|
|
Fair Value
|
||||
Liabilities
|
|
|
|
|
||||
Term loan due 2022, excluding deferred financing costs
|
|
$
|
150,000
|
|
|
$
|
151,042
|
|
Term loan due 2023, excluding deferred financing costs
|
|
150,000
|
|
|
150,651
|
|
||
Term loan due 2024, excluding deferred financing costs
|
|
100,000
|
|
|
100,453
|
|
||
Senior note due June 2024, excluding deferred financing costs
|
|
50,000
|
|
|
50,834
|
|
||
Senior note due June 2027, excluding deferred financing costs
|
|
75,000
|
|
|
77,471
|
|
||
Senior note due June 2026, excluding deferred financing costs
|
|
50,000
|
|
|
50,533
|
|
||
Senior note due June 2028, excluding deferred financing costs
|
|
50,000
|
|
|
50,917
|
|
(In thousands)
|
|
Real Estate Operations
|
|
Restaurant Operations
|
|
Intercompany
|
|
Total
|
||||||||
Revenues:
|
|
|
|
|
|
|
|
|
||||||||
Rental
|
|
$
|
139,682
|
|
|
—
|
|
|
$
|
—
|
|
|
$
|
139,682
|
|
|
Intercompany rental
|
|
410
|
|
|
—
|
|
|
(410
|
)
|
|
—
|
|
||||
Restaurant
|
|
—
|
|
|
20,551
|
|
|
—
|
|
|
20,551
|
|
||||
Total revenues
|
|
140,092
|
|
|
20,551
|
|
|
(410
|
)
|
|
160,233
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
|
||||||||
General and administrative
|
|
13,934
|
|
|
—
|
|
|
—
|
|
|
13,934
|
|
||||
Depreciation and amortization
|
|
25,780
|
|
|
532
|
|
|
—
|
|
|
26,312
|
|
||||
Property
|
|
1,579
|
|
|
|
|
|
|
1,579
|
|
||||||
Restaurant
|
|
—
|
|
|
20,042
|
|
|
(410
|
)
|
|
19,632
|
|
||||
Total operating expenses
|
|
41,293
|
|
|
20,574
|
|
|
(410
|
)
|
|
61,457
|
|
||||
Interest expense
|
|
(26,516
|
)
|
|
—
|
|
|
—
|
|
|
(26,516
|
)
|
||||
Other income, net
|
|
944
|
|
|
—
|
|
|
—
|
|
|
944
|
|
||||
Realized gain on sale, net
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Income tax expense
|
|
(152
|
)
|
|
(113
|
)
|
|
—
|
|
|
(265
|
)
|
||||
Net Income (Loss)
|
|
$
|
73,075
|
|
|
$
|
(136
|
)
|
|
$
|
—
|
|
|
$
|
72,939
|
|
(In thousands)
|
|
Real Estate Operations
|
|
Restaurant Operations
|
|
Intercompany
|
|
Total
|
||||||||
Revenues:
|
|
|
|
|
|
|
|
|
||||||||
Rental
|
|
$
|
123,665
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
123,665
|
|
Intercompany rental
|
|
401
|
|
|
—
|
|
|
(401
|
)
|
|
—
|
|
||||
Restaurant
|
|
—
|
|
|
19,970
|
|
|
—
|
|
|
19,970
|
|
||||
Total revenues
|
|
124,066
|
|
|
19,970
|
|
|
(401
|
)
|
|
143,635
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
|
||||||||
General and administrative
|
|
13,206
|
|
|
—
|
|
|
—
|
|
|
13,206
|
|
||||
Depreciation and amortization
|
|
23,373
|
|
|
511
|
|
|
—
|
|
|
23,884
|
|
||||
Property
|
|
433
|
|
|
|
|
|
|
433
|
|
||||||
Restaurant
|
|
—
|
|
|
19,415
|
|
|
(401
|
)
|
|
19,014
|
|
||||
Total operating expenses
|
|
37,012
|
|
|
19,926
|
|
|
(401
|
)
|
|
56,537
|
|
||||
Interest expense
|
|
(19,959
|
)
|
|
—
|
|
|
—
|
|
|
(19,959
|
)
|
||||
Other income, net
|
|
781
|
|
|
—
|
|
|
—
|
|
|
781
|
|
||||
Realized gain on sale, net
|
|
15,271
|
|
|
—
|
|
|
—
|
|
|
15,271
|
|
||||
Income tax expense
|
|
(156
|
)
|
|
(106
|
)
|
|
—
|
|
|
(262
|
)
|
||||
Net Income (Loss)
|
|
$
|
82,991
|
|
|
$
|
(62
|
)
|
|
$
|
—
|
|
|
$
|
82,929
|
|
(In thousands)
|
|
Real Estate Operations
|
|
Restaurant Operations
|
|
Intercompany
|
|
Total
|
||||||||
Revenues:
|
|
|
|
|
|
|
|
|
||||||||
Rental
|
|
$
|
113,937
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
113,937
|
|
Intercompany rental
|
|
395
|
|
|
—
|
|
|
(395
|
)
|
|
—
|
|
||||
Restaurant
|
|
—
|
|
|
19,272
|
|
|
—
|
|
|
19,272
|
|
||||
Total revenues
|
|
114,332
|
|
|
19,272
|
|
|
(395
|
)
|
|
133,209
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
|
||||||||
General and administrative
|
|
11,976
|
|
|
—
|
|
|
—
|
|
|
11,976
|
|
||||
Depreciation and amortization
|
|
21,237
|
|
|
574
|
|
|
—
|
|
|
21,811
|
|
||||
Property
|
|
283
|
|
|
|
|
|
|
283
|
|
||||||
Restaurant
|
|
—
|
|
|
19,047
|
|
|
(395
|
)
|
|
18,652
|
|
||||
Total operating expenses
|
|
33,496
|
|
|
19,621
|
|
|
(395
|
)
|
|
52,722
|
|
||||
Interest expense
|
|
(19,469
|
)
|
|
—
|
|
|
—
|
|
|
(19,469
|
)
|
||||
Other income, net
|
|
324
|
|
|
—
|
|
|
—
|
|
|
324
|
|
||||
Realized gain on sale, net
|
|
10,532
|
|
|
—
|
|
|
—
|
|
|
10,532
|
|
||||
Income tax (expense) benefit
|
|
(77
|
)
|
|
95
|
|
|
—
|
|
|
18
|
|
||||
Net Income (Loss)
|
|
$
|
72,146
|
|
|
$
|
(254
|
)
|
|
$
|
—
|
|
|
$
|
71,892
|
|
(In thousands)
|
|
Real Estate Operations
|
|
Restaurant Operations
|
|
Total
|
||||||
Total real estate investments
|
|
$
|
1,952,855
|
|
|
$
|
14,879
|
|
|
$
|
1,967,734
|
|
Accumulated depreciation
|
|
(630,250
|
)
|
|
(5,380
|
)
|
|
(635,630
|
)
|
|||
Total real estate investments, net
|
|
1,322,605
|
|
|
9,499
|
|
|
1,332,104
|
|
|||
Cash and cash equivalents
|
|
4,032
|
|
|
1,051
|
|
|
5,083
|
|
|||
Total assets
|
|
1,431,003
|
|
|
15,067
|
|
|
1,446,070
|
|
|||
Long-term debt, net of deferred financing costs
|
|
669,940
|
|
|
—
|
|
|
669,940
|
|
(In thousands)
|
|
Real Estate Operations
|
|
Restaurant Operations
|
|
Total
|
||||||
Total real estate investments
|
|
$
|
1,788,462
|
|
|
$
|
16,819
|
|
|
$
|
1,805,281
|
|
Accumulated depreciation
|
|
(607,556
|
)
|
|
(7,028
|
)
|
|
(614,584
|
)
|
|||
Total real estate investments, net
|
|
1,180,906
|
|
|
9,791
|
|
|
1,190,697
|
|
|||
Cash and cash equivalents
|
|
90,690
|
|
|
1,351
|
|
|
92,041
|
|
|||
Total assets
|
|
1,331,213
|
|
|
11,885
|
|
|
1,343,098
|
|
|||
Long-term debt, net of deferred financing costs
|
|
615,892
|
|
|
—
|
|
|
615,892
|
|
(In thousands, except per share amounts)
|
|
January 1, 2019 - March 31, 2019
|
|
April 1, 2019 - June 30, 2019
|
|
July 1, 2019 - September 30, 2019
|
|
October 1, 2019 - December 31, 2019
|
||||||||
Revenues:
|
|
|
|
|
|
|
|
|
||||||||
Rental
|
|
$
|
34,208
|
|
|
$
|
34,415
|
|
|
$
|
35,209
|
|
|
$
|
35,850
|
|
Restaurant
|
|
5,393
|
|
|
5,153
|
|
|
4,974
|
|
|
5,031
|
|
||||
Total revenues
|
|
39,601
|
|
|
39,568
|
|
|
40,183
|
|
|
40,881
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
|
||||||||
General and administrative
|
|
3,946
|
|
|
3,431
|
|
|
3,389
|
|
|
3,168
|
|
||||
Depreciation and amortization
|
|
6,361
|
|
|
6,518
|
|
|
6,653
|
|
|
6,780
|
|
||||
Property expenses
|
|
308
|
|
|
417
|
|
|
346
|
|
|
508
|
|
||||
Restaurant expense
|
|
4,983
|
|
|
4,954
|
|
|
4,805
|
|
|
4,890
|
|
||||
Total operating expenses
|
|
15,598
|
|
|
15,320
|
|
|
15,193
|
|
|
15,346
|
|
||||
Interest expense
|
|
(6,747
|
)
|
|
(6,557
|
)
|
|
(6,665
|
)
|
|
(6,547
|
)
|
||||
Other income
|
|
413
|
|
|
306
|
|
|
153
|
|
|
72
|
|
||||
Realized gain on sale, net
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Income tax expense
|
|
$
|
(68
|
)
|
|
$
|
(61
|
)
|
|
$
|
(69
|
)
|
|
$
|
(67
|
)
|
Net Income
|
|
$
|
17,601
|
|
|
$
|
17,936
|
|
|
$
|
18,409
|
|
|
$
|
18,993
|
|
Earnings per share:
|
|
|
|
|
|
|
|
|
||||||||
Basic
|
|
$
|
0.26
|
|
|
$
|
0.26
|
|
|
$
|
0.27
|
|
|
$
|
0.27
|
|
Diluted
|
|
0.26
|
|
|
0.26
|
|
|
0.27
|
|
|
0.27
|
|
||||
Distributions declared per share
|
|
$
|
0.2875
|
|
|
$
|
0.2875
|
|
|
$
|
0.2875
|
|
|
$
|
0.3050
|
|
(In thousands, except per share amounts)
|
|
January 1, 2018 - March 31, 2018
|
|
April 1, 2018 - June 30, 2018
|
|
July 1, 2018 - September 30, 2018
|
|
October 1, 2018 - December 31, 2018
|
||||||||
Revenues:
|
|
|
|
|
|
|
|
|
||||||||
Rental
|
|
$
|
29,589
|
|
|
$
|
29,596
|
|
|
$
|
31,324
|
|
|
$
|
33,156
|
|
Restaurant
|
|
5,214
|
|
|
5,079
|
|
|
4,798
|
|
|
4,879
|
|
||||
Total revenues
|
|
34,803
|
|
|
34,675
|
|
|
36,122
|
|
|
38,035
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
|
||||||||
General and administrative
|
|
3,567
|
|
|
3,093
|
|
|
3,099
|
|
|
3,447
|
|
||||
Depreciation and amortization
|
|
5,345
|
|
|
5,225
|
|
|
5,743
|
|
|
7,571
|
|
||||
Property expense
|
|
86
|
|
|
95
|
|
|
109
|
|
|
143
|
|
||||
Restaurant expense
|
|
4,870
|
|
|
4,786
|
|
|
4,713
|
|
|
4,645
|
|
||||
Total operating expenses
|
|
13,868
|
|
|
13,199
|
|
|
13,664
|
|
|
15,806
|
|
||||
Interest expense
|
|
(4,855
|
)
|
|
(4,877
|
)
|
|
(4,934
|
)
|
|
(5,293
|
)
|
||||
Other income
|
|
342
|
|
|
215
|
|
|
147
|
|
|
77
|
|
||||
Realized gain on sale, net
|
|
—
|
|
|
10,879
|
|
|
—
|
|
|
4,392
|
|
||||
Income tax expense
|
|
(58
|
)
|
|
(66
|
)
|
|
(64
|
)
|
|
(74
|
)
|
||||
Net Income
|
|
$
|
16,364
|
|
|
$
|
27,627
|
|
|
$
|
17,607
|
|
|
$
|
21,331
|
|
Earnings per share:
|
|
|
|
|
|
|
|
|
||||||||
Basic
|
|
$
|
0.27
|
|
|
$
|
0.44
|
|
|
$
|
0.27
|
|
|
$
|
0.31
|
|
Diluted
|
|
0.26
|
|
|
0.44
|
|
|
0.27
|
|
|
0.31
|
|
||||
Distributions declared per share
|
|
$
|
0.2750
|
|
|
$
|
0.2750
|
|
|
$
|
0.2750
|
|
|
$
|
0.2875
|
|
(In thousands, except per share amounts)
|
|
January 1, 2017 - March 31, 2017
|
|
April 1, 2017 - June 30, 2017
|
|
July 1, 2017 - September 30, 2017
|
|
October 1, 2017 - December 31, 2017
|
||||||||
Revenues:
|
|
|
|
|
|
|
|
|
||||||||
Rental
|
|
$
|
27,764
|
|
|
$
|
28,327
|
|
|
$
|
28,835
|
|
|
$
|
29,011
|
|
Restaurant
|
|
4,943
|
|
|
4,826
|
|
|
4,676
|
|
|
4,827
|
|
||||
Total revenues
|
|
32,707
|
|
|
33,153
|
|
|
33,511
|
|
|
33,838
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
|
||||||||
General and administrative
|
|
2,779
|
|
|
3,379
|
|
|
2,828
|
|
|
2,990
|
|
||||
Depreciation and amortization
|
|
5,409
|
|
|
5,420
|
|
|
5,425
|
|
|
5,557
|
|
||||
Property expense
|
|
78
|
|
|
80
|
|
|
71
|
|
|
54
|
|
||||
Restaurant expense
|
|
4,668
|
|
|
4,583
|
|
|
4,572
|
|
|
4,829
|
|
||||
Total operating expenses
|
|
12,934
|
|
|
13,462
|
|
|
12,896
|
|
|
13,430
|
|
||||
Interest expense
|
|
(4,094
|
)
|
|
(4,509
|
)
|
|
(5,463
|
)
|
|
(5,403
|
)
|
||||
Other income
|
|
5
|
|
|
34
|
|
|
172
|
|
|
113
|
|
||||
Realized gain on sale, net
|
|
—
|
|
|
3,292
|
|
|
4,042
|
|
|
3,198
|
|
||||
Income tax (expense) benefit
|
|
(45
|
)
|
|
(61
|
)
|
|
(33
|
)
|
|
157
|
|
||||
Net Income
|
|
$
|
15,639
|
|
|
$
|
18,447
|
|
|
$
|
19,333
|
|
|
$
|
18,473
|
|
Earnings per share:
|
|
|
|
|
|
|
|
|
||||||||
Basic
|
|
$
|
0.26
|
|
|
$
|
0.30
|
|
|
$
|
0.31
|
|
|
$
|
0.30
|
|
Diluted
|
|
0.26
|
|
|
0.30
|
|
|
0.31
|
|
|
0.30
|
|
||||
Distributions declared per share
|
|
$
|
0.2425
|
|
|
$
|
0.2425
|
|
|
$
|
0.2425
|
|
|
$
|
0.2750
|
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
APB
|
Tracy, CA
|
1,267
|
—
|
—
|
|
—
|
—
|
—
|
|
1,267
|
—
|
—
|
1,267
|
—
|
2004
|
11/20/2018
|
—
|
ARB
|
Rocky Mount, NC
|
261
|
1,405
|
—
|
|
—
|
—
|
—
|
|
261
|
1,405
|
—
|
1,666
|
125
|
2004
|
9/6/2016
|
10 - 45
|
ARB
|
Roanoke Rapids, NC
|
288
|
1,563
|
—
|
|
—
|
—
|
—
|
|
288
|
1,563
|
—
|
1,851
|
146
|
2003
|
9/6/2016
|
10 - 45
|
ARB
|
South Hill, VA
|
538
|
1,283
|
—
|
|
—
|
—
|
—
|
|
538
|
1,283
|
—
|
1,821
|
109
|
2002
|
11/3/2016
|
10 - 50
|
ARB
|
Wake Forest, NC
|
805
|
1,344
|
—
|
|
—
|
—
|
—
|
|
805
|
1,344
|
—
|
2,149
|
140
|
2005
|
11/3/2016
|
9 - 49
|
ARB
|
Birch Run, MI
|
590
|
777
|
—
|
|
—
|
—
|
—
|
|
590
|
777
|
—
|
1,367
|
97
|
1991
|
11/9/2016
|
10 - 40
|
ARB
|
Brighton, MI
|
456
|
990
|
—
|
|
—
|
—
|
—
|
|
456
|
990
|
—
|
1,446
|
100
|
1987
|
11/9/2016
|
10 - 40
|
ARB
|
Cedar Rapids, IA
|
485
|
—
|
—
|
|
—
|
—
|
—
|
|
485
|
—
|
—
|
485
|
—
|
1987
|
1/12/2018
|
—
|
ARB
|
Plainwell, MI
|
696
|
837
|
—
|
|
—
|
—
|
—
|
|
696
|
837
|
—
|
1,533
|
57
|
1999
|
8/6/2018
|
3 - 36
|
ARB
|
Logan, UT
|
827
|
1,157
|
—
|
|
—
|
—
|
—
|
|
827
|
1,157
|
—
|
1,984
|
25
|
1980
|
5/1/2019
|
5 - 40
|
ARB
|
Spring Lake, MI
|
317
|
762
|
—
|
|
—
|
—
|
—
|
|
317
|
762
|
—
|
1,079
|
14
|
1986
|
6/21/2019
|
5 - 30
|
ARB
|
Holland, MI
|
735
|
735
|
—
|
|
—
|
—
|
—
|
|
735
|
735
|
—
|
1,469
|
18
|
1988
|
6/21/2019
|
5 - 30
|
ARB
|
Muskegon, MI
|
486
|
919
|
—
|
|
—
|
—
|
—
|
|
486
|
919
|
—
|
1,405
|
15
|
1979
|
6/21/2019
|
5 - 40
|
ARB
|
Kokomo, IN
|
902
|
—
|
—
|
|
—
|
—
|
—
|
|
902
|
—
|
—
|
902
|
—
|
2003
|
8/1/2019
|
—
|
BB
|
Raleigh, NC
|
2,507
|
3,230
|
155
|
|
—
|
918
|
314
|
|
2,507
|
4,148
|
469
|
7,124
|
3,061
|
1999
|
5/17/1999
|
2 - 38
|
BB
|
Duluth, GA
|
1,292
|
2,362
|
254
|
|
—
|
1,378
|
274
|
|
1,292
|
3,740
|
528
|
5,560
|
2,959
|
1999
|
5/24/1999
|
2 - 38
|
BB
|
Miami, FL
|
1,731
|
3,427
|
222
|
|
—
|
1,162
|
422
|
|
1,731
|
4,589
|
644
|
6,964
|
3,313
|
2000
|
4/4/2000
|
2 - 35
|
BB
|
Fort Myers, FL
|
1,914
|
2,863
|
186
|
|
—
|
916
|
398
|
|
1,914
|
3,779
|
584
|
6,277
|
2,637
|
2000
|
5/16/2000
|
2 - 35
|
BB
|
Pembroke Pines, FL
|
1,808
|
2,999
|
207
|
|
—
|
1,039
|
382
|
|
1,808
|
4,038
|
589
|
6,435
|
2,777
|
2000
|
12/18/2000
|
2 - 35
|
BB
|
Livonia, MI
|
2,105
|
3,856
|
286
|
|
—
|
362
|
138
|
|
2,105
|
4,218
|
424
|
6,747
|
3,034
|
2001
|
2/6/2001
|
2 - 36
|
BB
|
Sunrise, FL
|
1,515
|
3,251
|
138
|
|
—
|
450
|
224
|
|
1,515
|
3,701
|
362
|
5,578
|
2,320
|
2002
|
10/22/2002
|
2 - 37
|
BB
|
Jacksonville, FL
|
2,235
|
2,295
|
344
|
|
—
|
50
|
13
|
|
2,235
|
2,345
|
357
|
4,937
|
1,125
|
2010
|
3/29/2010
|
2 - 45
|
BB
|
Orlando, FL
|
1,659
|
2,340
|
356
|
|
—
|
324
|
41
|
|
1,659
|
2,664
|
397
|
4,720
|
980
|
2012
|
2/27/2012
|
2 - 47
|
BE
|
Dover, DE
|
591
|
1,713
|
—
|
|
—
|
—
|
—
|
|
591
|
1,713
|
—
|
2,304
|
129
|
1993
|
4/28/2017
|
10 - 50
|
BE
|
Indianapolis, IN
|
603
|
1,701
|
—
|
|
—
|
—
|
—
|
|
603
|
1,701
|
—
|
2,304
|
124
|
1991
|
4/28/2017
|
10 - 50
|
BE
|
Bowie, MD
|
506
|
1,940
|
—
|
|
—
|
—
|
—
|
|
506
|
1,940
|
—
|
2,446
|
144
|
1995
|
4/28/2017
|
10 - 50
|
BE
|
Catonsville, MD
|
170
|
1,091
|
—
|
|
—
|
—
|
—
|
|
170
|
1,091
|
—
|
1,261
|
87
|
2003
|
4/28/2017
|
10 - 50
|
BE
|
Midland, MI
|
1,060
|
1,567
|
—
|
|
—
|
—
|
—
|
|
1,060
|
1,567
|
—
|
2,627
|
116
|
1998
|
4/28/2017
|
10 - 50
|
BE
|
Niagara Falls, NY
|
304
|
1,892
|
—
|
|
—
|
—
|
—
|
|
304
|
1,892
|
—
|
2,196
|
141
|
1992
|
4/28/2017
|
10 - 50
|
BE
|
Independence, OH
|
1,161
|
1,847
|
—
|
|
—
|
—
|
—
|
|
1,161
|
1,847
|
—
|
3,008
|
128
|
1994
|
4/28/2017
|
11 - 51
|
BE
|
Centerville, OH
|
947
|
1,209
|
—
|
|
—
|
—
|
—
|
|
947
|
1,209
|
—
|
2,156
|
106
|
1997
|
4/28/2017
|
7 - 45
|
BE
|
Blacklick, OH
|
1,178
|
1,269
|
—
|
|
—
|
—
|
—
|
|
1,178
|
1,269
|
—
|
2,447
|
123
|
1999
|
4/28/2017
|
7 - 45
|
BE
|
Celina, OH
|
944
|
1,431
|
—
|
|
—
|
—
|
—
|
|
944
|
1,431
|
—
|
2,375
|
110
|
2005
|
4/28/2017
|
9 - 49
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
BE
|
Canton, OH
|
755
|
1,441
|
—
|
|
—
|
—
|
—
|
|
755
|
1,441
|
—
|
2,196
|
101
|
2005
|
4/28/2017
|
10 - 50
|
BE
|
Kent, OH
|
814
|
1,215
|
—
|
|
—
|
—
|
—
|
|
814
|
1,215
|
—
|
2,029
|
90
|
1994
|
4/28/2017
|
10 - 50
|
BE
|
Waynesburg, PA
|
389
|
1,758
|
—
|
|
—
|
—
|
—
|
|
389
|
1,758
|
—
|
2,147
|
143
|
2006
|
4/28/2017
|
10 - 50
|
BE
|
Fredericksburg, VA
|
218
|
1,068
|
—
|
|
—
|
—
|
—
|
|
218
|
1,068
|
—
|
1,286
|
90
|
2006
|
4/28/2017
|
7 - 45
|
BE
|
Kanawha City, WV
|
405
|
1,899
|
—
|
|
—
|
—
|
—
|
|
405
|
1,899
|
—
|
2,304
|
136
|
2000
|
4/28/2017
|
10 - 50
|
BE
|
Lima, OH
|
1,382
|
1,461
|
—
|
|
—
|
—
|
—
|
|
1,382
|
1,461
|
—
|
2,843
|
121
|
1988
|
4/28/2017
|
9 - 49
|
BE
|
Englewood, OH
|
958
|
—
|
—
|
|
—
|
—
|
—
|
|
958
|
—
|
—
|
958
|
—
|
2004
|
10/18/2019
|
—
|
BJ
|
Youngstown, OH
|
1,125
|
—
|
—
|
|
—
|
—
|
—
|
|
1,125
|
—
|
—
|
1,125
|
—
|
2017
|
1/12/2018
|
—
|
BJ
|
Longview, TX
|
1,508
|
—
|
—
|
|
—
|
—
|
—
|
|
1,508
|
—
|
—
|
1,508
|
—
|
2015
|
11/16/2018
|
—
|
BJ
|
Livonia, MI
|
638
|
3,259
|
—
|
|
—
|
—
|
—
|
|
638
|
3,259
|
—
|
3,897
|
62
|
2018
|
12/28/2018
|
14 - 54
|
BJ
|
Ft. Wayne, IN
|
2,878
|
—
|
—
|
|
—
|
—
|
—
|
|
2,878
|
—
|
—
|
2,878
|
—
|
2016
|
12/24/2019
|
—
|
BJ
|
Little Rock, AR
|
3,646
|
—
|
—
|
|
—
|
—
|
—
|
|
3,646
|
—
|
—
|
3,646
|
—
|
2014
|
12/27/2019
|
—
|
BK
|
Keysville, VA
|
571
|
1,424
|
—
|
|
—
|
—
|
—
|
|
571
|
1,424
|
—
|
1,995
|
122
|
1996
|
10/28/2016
|
10 - 50
|
BK
|
Roxboro, NC
|
601
|
2,089
|
—
|
|
—
|
—
|
—
|
|
601
|
2,089
|
—
|
2,690
|
162
|
1989
|
10/28/2016
|
10 - 50
|
BK
|
Oxford, NC
|
449
|
1,892
|
—
|
|
—
|
—
|
—
|
|
449
|
1,892
|
—
|
2,341
|
152
|
1982
|
10/28/2016
|
10 - 50
|
BK
|
Huntsville, AL
|
460
|
1,549
|
—
|
|
—
|
—
|
—
|
|
460
|
1,549
|
—
|
2,009
|
136
|
2000
|
10/28/2016
|
10 - 50
|
BK
|
Amory, MS
|
570
|
2,159
|
—
|
|
—
|
—
|
—
|
|
570
|
2,159
|
—
|
2,729
|
150
|
2016
|
10/28/2016
|
14 - 54
|
BK
|
Madisonville, KY
|
1,071
|
1,257
|
—
|
|
—
|
—
|
—
|
|
1,071
|
1,257
|
—
|
2,328
|
135
|
1986
|
11/9/2016
|
10 - 45
|
BK
|
Monterey, TN
|
429
|
1,611
|
—
|
|
—
|
—
|
—
|
|
429
|
1,611
|
—
|
2,040
|
122
|
2000
|
12/28/2016
|
10 - 50
|
BK
|
Crossville, TN
|
397
|
1,873
|
—
|
|
—
|
—
|
—
|
|
397
|
1,873
|
—
|
2,270
|
139
|
1987
|
12/28/2016
|
10 - 50
|
BK
|
Livingston, TN
|
481
|
1,354
|
—
|
|
—
|
—
|
—
|
|
481
|
1,354
|
—
|
1,835
|
102
|
2015
|
12/28/2016
|
13 - 53
|
BK
|
Mount Juliet, TN
|
683
|
1,101
|
—
|
|
—
|
—
|
—
|
|
683
|
1,101
|
—
|
1,784
|
138
|
1988
|
12/28/2016
|
7 - 40
|
BK
|
Herkimer, NY
|
308
|
1,460
|
—
|
|
—
|
—
|
—
|
|
308
|
1,460
|
—
|
1,768
|
94
|
2002
|
1/12/2017
|
13 - 53
|
BK
|
Chattanooga, TN
|
485
|
894
|
—
|
|
—
|
—
|
—
|
|
485
|
894
|
—
|
1,379
|
80
|
1998
|
1/12/2017
|
10 - 45
|
BK
|
Salem, IN
|
534
|
1,608
|
—
|
|
—
|
—
|
—
|
|
534
|
1,608
|
—
|
2,142
|
97
|
2016
|
6/30/2017
|
14 - 54
|
BK
|
Tupelo, MS
|
772
|
1,765
|
—
|
|
—
|
—
|
—
|
|
772
|
1,765
|
—
|
2,537
|
104
|
2016
|
6/30/2017
|
14 - 54
|
BK
|
Booneville, MS
|
448
|
1,253
|
—
|
|
—
|
—
|
—
|
|
448
|
1,253
|
—
|
1,701
|
76
|
2016
|
6/30/2017
|
14 - 54
|
BK
|
Tupelo, MS
|
953
|
1,418
|
—
|
|
—
|
—
|
—
|
|
953
|
1,418
|
—
|
2,371
|
101
|
1998
|
6/30/2017
|
10 - 50
|
BK
|
Memphis, TN
|
739
|
1,708
|
—
|
|
—
|
—
|
—
|
|
739
|
1,708
|
—
|
2,447
|
95
|
1996
|
6/30/2017
|
15 - 55
|
BK
|
Columbus, MS
|
922
|
1,633
|
—
|
|
—
|
—
|
—
|
|
922
|
1,633
|
—
|
2,555
|
108
|
2000
|
6/30/2017
|
12 - 52
|
BK
|
Tupelo, MS
|
826
|
1,774
|
—
|
|
—
|
—
|
—
|
|
826
|
1,774
|
—
|
2,600
|
114
|
1998
|
6/30/2017
|
10 - 50
|
BK
|
Olive Branch, MS
|
521
|
1,317
|
—
|
|
—
|
—
|
—
|
|
521
|
1,317
|
—
|
1,838
|
72
|
2016
|
12/19/2017
|
14 - 54
|
BK
|
Holly Springs, MS
|
335
|
1,253
|
—
|
|
—
|
—
|
—
|
|
335
|
1,253
|
—
|
1,588
|
62
|
2016
|
12/19/2017
|
14 - 54
|
BK
|
Waldorf, MD
|
747
|
1,214
|
—
|
|
—
|
—
|
—
|
|
747
|
1,214
|
—
|
1,961
|
30
|
1989
|
4/3/2019
|
10 - 40
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
BWW
|
Burlington, IA
|
137
|
2,530
|
—
|
|
—
|
—
|
—
|
|
137
|
2,530
|
—
|
2,667
|
211
|
2010
|
9/15/2016
|
10 - 49
|
BWW
|
Galesburg, IL
|
157
|
2,510
|
—
|
|
—
|
—
|
—
|
|
157
|
2,510
|
—
|
2,667
|
226
|
2009
|
9/15/2016
|
10 - 46
|
BWW
|
Macomb, IL
|
138
|
2,528
|
—
|
|
—
|
—
|
—
|
|
138
|
2,528
|
—
|
2,666
|
215
|
2009
|
9/15/2016
|
10 - 48
|
BWW
|
Springfield, IL
|
825
|
2,352
|
—
|
|
—
|
—
|
—
|
|
825
|
2,352
|
—
|
3,177
|
127
|
2006
|
1/10/2018
|
10 - 50
|
BWW
|
Quincy, IL
|
676
|
2,378
|
—
|
|
—
|
—
|
—
|
|
676
|
2,378
|
—
|
3,054
|
120
|
2007
|
1/10/2018
|
10 - 50
|
BWW
|
Orange Park, FL
|
1,768
|
—
|
—
|
|
—
|
—
|
—
|
|
1,768
|
—
|
—
|
1,768
|
—
|
1997
|
1/12/2018
|
—
|
BWW
|
Florence, SC
|
1,638
|
—
|
—
|
|
—
|
—
|
—
|
|
1,638
|
—
|
—
|
1,638
|
—
|
2011
|
6/29/2018
|
—
|
BWW
|
Austin, TX
|
1,250
|
—
|
—
|
|
—
|
—
|
—
|
|
1,250
|
—
|
—
|
1,250
|
—
|
2010
|
7/16/2018
|
—
|
BWW
|
Hendersonville, TN
|
1,401
|
—
|
—
|
|
—
|
—
|
—
|
|
1,401
|
—
|
—
|
1,401
|
—
|
2009
|
8/8/2018
|
—
|
BWW
|
Grand Junction, CO
|
1,182
|
—
|
—
|
|
—
|
—
|
—
|
|
1,182
|
—
|
—
|
1,182
|
—
|
2004
|
1/18/2019
|
—
|
BWW
|
Loredo, TX
|
1,287
|
1,923
|
—
|
|
—
|
—
|
—
|
|
1,287
|
1,923
|
—
|
3,210
|
55
|
2001
|
2/8/2019
|
10 - 45
|
BWW
|
Rockaway, NJ
|
787
|
—
|
—
|
|
—
|
—
|
—
|
|
787
|
—
|
—
|
787
|
—
|
2013
|
2/11/2019
|
—
|
BWW
|
Centerville, GA
|
1,001
|
—
|
—
|
|
—
|
—
|
—
|
|
1,001
|
—
|
—
|
1,001
|
—
|
2011
|
8/1/2019
|
—
|
BWW
|
Mansfield, TX
|
1,438
|
845
|
—
|
|
—
|
—
|
—
|
|
1,438
|
845
|
—
|
2,282
|
7
|
2007
|
10/21/2019
|
10 - 25
|
BWW
|
Fort Worth, TX
|
1,484
|
922
|
—
|
|
—
|
—
|
—
|
|
1,484
|
922
|
—
|
2,405
|
8
|
2007
|
11/4/2019
|
10 - 25
|
BWW
|
Racine, WI
|
1,898
|
—
|
—
|
|
—
|
—
|
—
|
|
1,898
|
—
|
—
|
1,898
|
—
|
2013
|
11/12/2019
|
—
|
BWW
|
Suffolk, VA
|
602
|
1,779
|
—
|
|
—
|
—
|
—
|
|
602
|
1,779
|
—
|
2,381
|
45
|
2012
|
12/31/2018
|
9 - 49
|
CB
|
Bloomingdale, IL
|
1,328
|
—
|
—
|
|
—
|
—
|
—
|
|
1,328
|
—
|
—
|
1,328
|
—
|
1991
|
10/18/2019
|
—
|
CFA
|
Cedar Rapids, IA
|
1,894
|
—
|
—
|
|
—
|
—
|
—
|
|
1,894
|
—
|
—
|
1,894
|
—
|
2012
|
1/12/2018
|
—
|
CFA
|
Sioux City, IA
|
1,162
|
—
|
—
|
|
—
|
—
|
—
|
|
1,162
|
—
|
—
|
1,162
|
—
|
2012
|
6/28/2019
|
—
|
CFA
|
Rehoboth Beach, DE
|
2,081
|
—
|
—
|
|
—
|
—
|
—
|
|
2,081
|
—
|
—
|
2,081
|
—
|
2013
|
12/24/2019
|
—
|
CFA
|
Ft. Wayne, IN
|
2,251
|
—
|
—
|
|
—
|
—
|
—
|
|
2,251
|
—
|
—
|
2,251
|
—
|
2019
|
12/24/2019
|
—
|
CGR
|
Bloomingdale, IL
|
1,111
|
—
|
—
|
|
—
|
—
|
—
|
|
1,111
|
—
|
—
|
1,111
|
—
|
1990
|
1/12/2018
|
—
|
CGR
|
Baton Rouge, LA
|
1,146
|
1,077
|
—
|
|
—
|
—
|
—
|
|
1,146
|
1,077
|
—
|
2,223
|
67
|
1985
|
8/8/2018
|
5 - 30
|
CGR
|
Mesquite, TX
|
2,180
|
2,938
|
—
|
|
—
|
—
|
—
|
|
2,180
|
2,938
|
—
|
5,118
|
98
|
2012
|
8/8/2018
|
13 - 53
|
CGR
|
Palm Bay, FL
|
1,666
|
2,881
|
—
|
|
—
|
—
|
—
|
|
1,666
|
2,881
|
—
|
4,547
|
101
|
1994
|
8/8/2018
|
12 - 52
|
CGR
|
Madison, TN
|
1,178
|
2,372
|
—
|
|
—
|
—
|
—
|
|
1,178
|
2,372
|
—
|
3,550
|
85
|
1989
|
8/8/2018
|
11 - 51
|
CGR
|
Ocala, FL
|
2,017
|
2,216
|
—
|
|
—
|
—
|
—
|
|
2,017
|
2,216
|
—
|
4,233
|
86
|
1989
|
8/8/2018
|
11 - 51
|
CGR
|
Palmdale, CA
|
1,234
|
2,573
|
—
|
|
—
|
—
|
—
|
|
1,234
|
2,573
|
—
|
3,807
|
91
|
1991
|
8/8/2018
|
9 - 49
|
CGR
|
Sebring, FL
|
1,568
|
2,275
|
—
|
|
—
|
—
|
—
|
|
1,568
|
2,275
|
—
|
3,843
|
84
|
1992
|
8/8/2018
|
11 - 51
|
CGR
|
Tarpon Springs, FL
|
1,394
|
2,232
|
—
|
|
—
|
—
|
—
|
|
1,394
|
2,232
|
—
|
3,626
|
88
|
1994
|
8/8/2018
|
10 - 50
|
CGR
|
Peoria, AZ
|
867
|
1,199
|
—
|
|
—
|
—
|
—
|
|
867
|
1,199
|
—
|
2,066
|
76
|
1993
|
8/8/2018
|
5 - 31
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
CGR
|
The Woodlands, TX
|
1,445
|
1,218
|
—
|
|
—
|
—
|
—
|
|
1,445
|
1,218
|
—
|
2,663
|
71
|
1995
|
8/8/2018
|
5 - 35
|
CGR
|
Orlando, FL
|
2,106
|
1,376
|
—
|
|
—
|
—
|
—
|
|
2,106
|
1,376
|
—
|
3,482
|
78
|
1994
|
8/8/2018
|
5 - 35
|
CGR
|
Kissimmee, FL
|
2,101
|
2,052
|
—
|
|
—
|
—
|
—
|
|
2,101
|
2,052
|
—
|
4,153
|
86
|
1994
|
8/8/2018
|
7 - 47
|
CGR
|
Mesa, AZ
|
1,295
|
1,628
|
—
|
|
—
|
—
|
—
|
|
1,295
|
1,628
|
—
|
2,923
|
82
|
1994
|
8/8/2018
|
5 - 40
|
CGR
|
Katy, TX
|
1,930
|
1,907
|
—
|
|
—
|
—
|
—
|
|
1,930
|
1,907
|
—
|
3,837
|
82
|
1995
|
8/8/2018
|
10 - 45
|
CGR
|
McAllen, TX
|
759
|
1,691
|
—
|
|
—
|
—
|
—
|
|
759
|
1,691
|
—
|
2,450
|
86
|
1994
|
8/8/2018
|
5 - 35
|
CGR
|
Winter Haven, FL
|
922
|
1,926
|
—
|
|
—
|
—
|
—
|
|
922
|
1,926
|
—
|
2,848
|
81
|
1995
|
8/8/2018
|
7 - 47
|
CGR
|
Ormond Beach, FL
|
545
|
1,104
|
—
|
|
—
|
—
|
—
|
|
545
|
1,104
|
—
|
1,649
|
70
|
1995
|
8/8/2018
|
3 - 32
|
CGR
|
Pembroke Pines, FL
|
1,757
|
1,514
|
—
|
|
—
|
—
|
—
|
|
1,757
|
1,514
|
—
|
3,271
|
88
|
1996
|
8/8/2018
|
5 - 40
|
CGR
|
High Point, NC
|
955
|
1,446
|
—
|
|
—
|
—
|
—
|
|
955
|
1,446
|
—
|
2,401
|
62
|
1996
|
8/8/2018
|
5 - 55
|
CGR
|
Anderson, SC
|
1,647
|
2,252
|
—
|
|
—
|
—
|
—
|
|
1,647
|
2,252
|
—
|
3,899
|
79
|
1995
|
8/8/2018
|
13 - 53
|
CGR
|
Burleson, TX
|
2,612
|
2,321
|
—
|
|
—
|
—
|
—
|
|
2,612
|
2,321
|
—
|
4,933
|
107
|
1998
|
8/8/2018
|
5 - 45
|
CGR
|
Brownsville, TX
|
2,111
|
2,868
|
—
|
|
—
|
—
|
—
|
|
2,111
|
2,868
|
—
|
4,979
|
101
|
1999
|
8/8/2018
|
12 -52
|
CGR
|
Hermitage, TN
|
1,226
|
1,564
|
—
|
|
—
|
—
|
—
|
|
1,226
|
1,564
|
—
|
2,790
|
80
|
2000
|
8/8/2018
|
5 - 39
|
CGR
|
Reno, NV
|
723
|
2,496
|
—
|
|
—
|
—
|
—
|
|
723
|
2,496
|
—
|
3,219
|
82
|
2002
|
8/8/2018
|
10 - 50
|
CGR
|
Bartlesville, OK
|
1,497
|
1,571
|
—
|
|
—
|
—
|
—
|
|
1,497
|
1,571
|
—
|
3,068
|
66
|
2002
|
8/8/2018
|
10 - 50
|
CGR
|
Gallatin, TN
|
821
|
1,613
|
—
|
|
—
|
—
|
—
|
|
821
|
1,613
|
—
|
2,434
|
65
|
2002
|
8/8/2018
|
10 - 50
|
CGR
|
Tampa, FL
|
920
|
1,839
|
—
|
|
—
|
—
|
—
|
|
920
|
1,839
|
—
|
2,759
|
83
|
2002
|
8/8/2018
|
7 - 40
|
CGR
|
Atascocita, TX
|
1,953
|
2,256
|
—
|
|
—
|
—
|
—
|
|
1,953
|
2,256
|
—
|
4,209
|
83
|
2002
|
8/8/2018
|
12 - 52
|
CGR
|
Canon City, CO
|
709
|
1,928
|
—
|
|
—
|
—
|
—
|
|
709
|
1,928
|
—
|
2,637
|
72
|
2002
|
8/8/2018
|
10 - 50
|
CGR
|
Chattanooga, TN
|
350
|
1,852
|
—
|
|
—
|
—
|
—
|
|
350
|
1,852
|
—
|
2,202
|
57
|
2003
|
8/8/2018
|
11 - 51
|
CGR
|
Hobbs, NM
|
1,424
|
1,746
|
—
|
|
—
|
—
|
—
|
|
1,424
|
1,746
|
—
|
3,170
|
69
|
2003
|
8/8/2018
|
10 - 50
|
CGR
|
Gonzales, LA
|
1,681
|
2,292
|
—
|
|
—
|
—
|
—
|
|
1,681
|
2,292
|
—
|
3,973
|
84
|
2003
|
8/8/2018
|
10 - 50
|
CGR
|
Tupelo, MS
|
890
|
1,514
|
—
|
|
—
|
—
|
—
|
|
890
|
1,514
|
—
|
2,404
|
77
|
2003
|
8/8/2018
|
5 - 40
|
CGR
|
Las Cruces, NM
|
1,645
|
1,720
|
—
|
|
—
|
—
|
—
|
|
1,645
|
1,720
|
—
|
3,365
|
78
|
1991
|
8/8/2018
|
7 - 45
|
CGR
|
Carson City, NV
|
775
|
467
|
—
|
|
—
|
—
|
—
|
|
775
|
467
|
—
|
1,242
|
35
|
2004
|
8/8/2018
|
5 - 41
|
CGR
|
Lady Lake, FL
|
2,474
|
2,618
|
—
|
|
—
|
—
|
—
|
|
2,474
|
2,618
|
—
|
5,092
|
101
|
2004
|
8/8/2018
|
12 - 52
|
CGR
|
Lone Tree, CO
|
753
|
1,511
|
—
|
|
—
|
—
|
—
|
|
753
|
1,511
|
—
|
2,264
|
75
|
2004
|
8/8/2018
|
5 - 41
|
CGR
|
Bristol, VA
|
1,059
|
1,563
|
—
|
|
—
|
—
|
—
|
|
1,059
|
1,563
|
—
|
2,622
|
81
|
2004
|
8/8/2018
|
5 - 41
|
CGR
|
Trinity, FL
|
1,701
|
2,613
|
—
|
|
—
|
—
|
—
|
|
1,701
|
2,613
|
—
|
4,314
|
92
|
2004
|
8/8/2018
|
13 - 53
|
CGR
|
Kingsville, TX
|
1,254
|
1,719
|
—
|
|
—
|
—
|
—
|
|
1,254
|
1,719
|
—
|
2,973
|
67
|
2004
|
8/8/2018
|
9 - 49
|
CGR
|
Conroe, TX
|
1,224
|
1,661
|
—
|
|
—
|
—
|
—
|
|
1,224
|
1,661
|
—
|
2,885
|
77
|
2004
|
8/8/2018
|
7 - 45
|
CGR
|
Portland, TX
|
1,537
|
2,089
|
—
|
|
—
|
—
|
—
|
|
1,537
|
2,089
|
—
|
3,626
|
86
|
2005
|
8/8/2018
|
10 - 45
|
CGR
|
Plainview, TX
|
657
|
1,302
|
—
|
|
—
|
—
|
—
|
|
657
|
1,302
|
—
|
1,959
|
58
|
2005
|
8/8/2018
|
5 - 45
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
CGR
|
Pinellas Park, FL
|
2,857
|
2,352
|
—
|
|
—
|
—
|
—
|
|
2,857
|
2,352
|
—
|
5,209
|
88
|
2005
|
8/8/2018
|
10 - 50
|
CGR
|
Conyers, GA
|
1,049
|
2,168
|
—
|
|
—
|
—
|
—
|
|
1,049
|
2,168
|
—
|
3,217
|
87
|
2000
|
8/8/2018
|
7 - 45
|
CGR
|
Eagle Pass, TX
|
1,338
|
1,859
|
—
|
|
—
|
—
|
—
|
|
1,338
|
1,859
|
—
|
3,197
|
84
|
2007
|
8/8/2018
|
5 - 45
|
CGR
|
Enid, OK
|
1,712
|
2,805
|
—
|
|
—
|
—
|
—
|
|
1,712
|
2,805
|
—
|
4,517
|
104
|
1996
|
9/14/2018
|
10 - 45
|
CGR
|
Lawton, OK
|
1,072
|
1,197
|
—
|
|
—
|
—
|
—
|
|
1,072
|
1,197
|
—
|
2,269
|
64
|
1999
|
9/14/2018
|
3 - 36
|
CGR
|
Austin, TX
|
988
|
1,330
|
—
|
|
—
|
—
|
—
|
|
988
|
1,330
|
—
|
2,318
|
61
|
2003
|
9/14/2018
|
1 - 41
|
CGR
|
Greenville, TX
|
1,495
|
1,431
|
—
|
|
—
|
—
|
—
|
|
1,495
|
1,431
|
—
|
2,926
|
58
|
2002
|
9/28/2018
|
10 - 45
|
CGR
|
Arcadia, FL
|
1,575
|
1,408
|
—
|
|
—
|
—
|
—
|
|
1,575
|
1,408
|
—
|
2,983
|
61
|
2005
|
9/28/2018
|
5 - 45
|
CGR
|
Aurora, CO
|
649
|
1,534
|
—
|
|
—
|
—
|
—
|
|
649
|
1,534
|
—
|
2,183
|
58
|
1990
|
10/23/2018
|
5 - 40
|
CGR
|
Coralville, IA
|
1,628
|
—
|
—
|
|
—
|
—
|
—
|
|
1,628
|
—
|
—
|
1,628
|
—
|
1998
|
12/26/2019
|
—
|
CGR
|
Alamosa, CO
|
1,992
|
1,206
|
—
|
|
—
|
—
|
—
|
|
1,992
|
1,206
|
—
|
3,199
|
—
|
2007
|
12/27/2019
|
10 - 35
|
CGR
|
Pueblo, CO
|
800
|
1,694
|
—
|
|
—
|
—
|
—
|
|
800
|
1,694
|
—
|
2,494
|
—
|
2005
|
12/27/2019
|
10 - 35
|
CGR
|
Lafayette, LA
|
3,183
|
1,579
|
—
|
|
—
|
—
|
—
|
|
3,183
|
1,579
|
—
|
4,761
|
—
|
2005
|
12/27/2019
|
10 - 35
|
CGR
|
Southaven, MS
|
2,332
|
1,770
|
—
|
|
—
|
—
|
—
|
|
2,332
|
1,770
|
—
|
4,102
|
—
|
2000
|
12/27/2019
|
10 - 35
|
CGR
|
Shawnee, OK
|
2,077
|
1,370
|
—
|
|
—
|
—
|
—
|
|
2,077
|
1,370
|
—
|
3,448
|
—
|
2001
|
12/27/2019
|
10 - 35
|
CGR
|
Harlingen, TX
|
3,054
|
1,630
|
—
|
|
—
|
—
|
—
|
|
3,054
|
1,630
|
—
|
4,684
|
—
|
1998
|
12/27/2019
|
10 - 35
|
CGR
|
Seguin, TX
|
2,350
|
1,778
|
—
|
|
—
|
—
|
—
|
|
2,350
|
1,778
|
—
|
4,129
|
—
|
2004
|
12/27/2019
|
10 - 35
|
CJ
|
Logan, UT
|
848
|
—
|
—
|
|
—
|
—
|
—
|
|
848
|
—
|
—
|
848
|
—
|
1997
|
6/7/2019
|
—
|
CRB
|
Palm Coast , FL
|
2,146
|
—
|
—
|
|
—
|
—
|
—
|
|
2,146
|
—
|
—
|
2,146
|
—
|
2012
|
6/13/2019
|
—
|
CSK
|
Pensacola, FL
|
1,530
|
—
|
—
|
|
—
|
—
|
—
|
|
1,530
|
—
|
—
|
1,530
|
—
|
1991
|
6/29/2018
|
—
|
DEN
|
Amherst, OH
|
460
|
998
|
—
|
|
—
|
—
|
—
|
|
460
|
998
|
—
|
1,458
|
111
|
1971
|
11/9/2016
|
10 - 40
|
DQ
|
Tulsa, OK
|
485
|
388
|
—
|
|
—
|
—
|
—
|
|
485
|
388
|
—
|
873
|
114
|
2015
|
10/20/2016
|
14 - 54
|
DT/MP
|
New Baltimore, MI
|
435
|
2,351
|
—
|
|
—
|
—
|
—
|
|
435
|
2,351
|
—
|
2,786
|
119
|
2016
|
9/15/2017
|
14 - 54
|
DTC
|
Coralville, IA
|
2,142
|
—
|
—
|
|
—
|
—
|
—
|
|
2,142
|
—
|
—
|
2,142
|
—
|
1998
|
12/26/2019
|
—
|
FAZ
|
Lafayette, IN
|
244
|
522
|
—
|
|
—
|
—
|
—
|
|
244
|
522
|
—
|
766
|
70
|
1996
|
11/9/2016
|
5 - 40
|
HAR
|
Gadsden, AL
|
464
|
1,064
|
—
|
|
—
|
—
|
—
|
|
464
|
1,064
|
—
|
1,528
|
118
|
1985
|
12/15/2016
|
10 - 40
|
HAR
|
Baxley, GA
|
644
|
1,258
|
—
|
|
—
|
—
|
—
|
|
644
|
1,258
|
—
|
1,902
|
150
|
1983
|
12/15/2016
|
10 - 40
|
HAR
|
Vidalia, GA
|
364
|
1,232
|
—
|
|
—
|
—
|
—
|
|
364
|
1,232
|
—
|
1,596
|
96
|
2007
|
12/15/2016
|
10 - 50
|
HAR
|
Hazlehurst, GA
|
461
|
1,516
|
—
|
|
—
|
—
|
—
|
|
461
|
1,516
|
—
|
1,977
|
116
|
2013
|
12/15/2016
|
12 - 52
|
HAR
|
Sioux City, IA
|
901
|
—
|
—
|
|
—
|
—
|
—
|
|
901
|
—
|
—
|
901
|
—
|
1979
|
6/28/2019
|
—
|
HIE
|
Coralville, IA
|
1,318
|
—
|
—
|
|
—
|
—
|
—
|
|
1,318
|
—
|
—
|
1,318
|
—
|
2000
|
12/26/2019
|
—
|
IHOP
|
Grand Junction, CO
|
853
|
—
|
—
|
|
—
|
—
|
—
|
|
853
|
—
|
—
|
853
|
—
|
2002
|
1/18/2019
|
—
|
IHOP
|
Christiansburg, VA
|
739
|
—
|
—
|
|
250
|
—
|
—
|
|
989
|
—
|
—
|
989
|
—
|
1998
|
4/19/2019
|
—
|
KFC
|
Detroit, MI
|
294
|
916
|
—
|
|
—
|
—
|
—
|
|
294
|
916
|
—
|
1,210
|
84
|
1997
|
9/14/2016
|
5 - 43
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
KFC
|
Auburn Hills, MI
|
98
|
925
|
—
|
|
—
|
—
|
—
|
|
98
|
925
|
—
|
1,023
|
93
|
2002
|
9/14/2016
|
5 - 43
|
KFC
|
Detroit, MI
|
75
|
732
|
—
|
|
—
|
—
|
—
|
|
75
|
732
|
—
|
807
|
75
|
1984
|
9/14/2016
|
5 - 40
|
KFC
|
Detroit, MI
|
323
|
635
|
—
|
|
—
|
—
|
—
|
|
323
|
635
|
—
|
958
|
78
|
1984
|
9/14/2016
|
5 - 40
|
KFC
|
Altoona, WI
|
195
|
1,714
|
—
|
|
—
|
—
|
—
|
|
195
|
1,714
|
—
|
1,909
|
143
|
1993
|
11/10/2016
|
10 - 45
|
KFC
|
LaCrosse, WI
|
216
|
893
|
—
|
|
—
|
—
|
—
|
|
216
|
893
|
—
|
1,109
|
107
|
1979
|
11/10/2016
|
5 - 40
|
KFC
|
Rice Lake, WI
|
215
|
1,045
|
—
|
|
—
|
—
|
—
|
|
215
|
1,045
|
—
|
1,260
|
123
|
1991
|
11/10/2016
|
5 - 40
|
KFC
|
Chippewa Falls, WI
|
167
|
924
|
—
|
|
—
|
—
|
—
|
|
167
|
924
|
—
|
1,091
|
95
|
2003
|
11/10/2016
|
5 - 40
|
KFC
|
LaCrosse, WI
|
245
|
1,042
|
—
|
|
—
|
—
|
—
|
|
245
|
1,042
|
—
|
1,287
|
117
|
1972
|
11/10/2016
|
5 - 40
|
KFC
|
Stevens Point, WI
|
92
|
697
|
—
|
|
—
|
—
|
—
|
|
92
|
697
|
—
|
789
|
74
|
1984
|
11/10/2016
|
5 - 40
|
KFC
|
Wisconsin Rapids, WI
|
179
|
1,928
|
—
|
|
—
|
—
|
—
|
|
179
|
1,928
|
—
|
2,107
|
158
|
1991
|
11/10/2016
|
10 - 45
|
KFC
|
Wausau, WI
|
126
|
1,387
|
—
|
|
—
|
—
|
—
|
|
126
|
1,387
|
—
|
1,513
|
113
|
1979
|
11/10/2016
|
10 - 45
|
KFC
|
Escanaba, MI
|
143
|
1,362
|
—
|
|
—
|
—
|
—
|
|
143
|
1,362
|
—
|
1,505
|
118
|
1985
|
11/10/2016
|
10 - 43
|
KFC
|
Menominee, MI
|
93
|
862
|
—
|
|
—
|
—
|
—
|
|
93
|
862
|
—
|
955
|
92
|
1995
|
11/10/2016
|
10 - 40
|
KFC
|
Goshen, IN
|
95
|
1,041
|
—
|
|
—
|
—
|
—
|
|
95
|
1,041
|
—
|
1,136
|
108
|
1976
|
11/10/2016
|
5 - 40
|
KFC
|
South Bend, IN
|
141
|
868
|
—
|
|
—
|
—
|
—
|
|
141
|
868
|
—
|
1,009
|
105
|
1970
|
11/10/2016
|
5 - 40
|
KFC
|
South Bend, IN
|
155
|
774
|
—
|
|
—
|
—
|
—
|
|
155
|
774
|
—
|
929
|
99
|
1973
|
11/10/2016
|
5 - 40
|
KFC
|
Mishawaka, IN
|
72
|
1,510
|
—
|
|
—
|
—
|
—
|
|
72
|
1,510
|
—
|
1,582
|
117
|
1978
|
11/10/2016
|
10 - 45
|
KFC
|
Kokomo, IN
|
118
|
1,093
|
—
|
|
—
|
—
|
—
|
|
118
|
1,093
|
—
|
1,211
|
104
|
1994
|
11/10/2016
|
10 - 40
|
KFC
|
Kokomo, IN
|
141
|
1,798
|
—
|
|
—
|
—
|
—
|
|
141
|
1,798
|
—
|
1,939
|
148
|
1994
|
11/10/2016
|
10 - 45
|
KK
|
Troy, MI
|
1,480
|
—
|
—
|
|
—
|
—
|
—
|
|
1,480
|
—
|
—
|
1,480
|
—
|
2003
|
12/24/2019
|
—
|
KRYS
|
Gardendale, AL
|
723
|
376
|
—
|
|
—
|
—
|
—
|
|
723
|
376
|
—
|
1,099
|
7
|
1976
|
9/27/2019
|
5 - 20
|
KRYS
|
Lenoir City, TN
|
1,124
|
338
|
—
|
|
—
|
—
|
—
|
|
1,124
|
338
|
—
|
1,462
|
6
|
1998
|
10/10/2019
|
5 - 20
|
KRYS
|
Pratville, AL
|
1,077
|
385
|
—
|
|
—
|
—
|
—
|
|
1,077
|
385
|
—
|
1,462
|
7
|
1998
|
10/11/2019
|
5 - 20
|
LH
|
Tucker, GA
|
1,407
|
923
|
10
|
|
—
|
339
|
214
|
|
1,407
|
1,262
|
224
|
2,893
|
993
|
1986
|
10/1/2007
|
2 - 43
|
LH
|
Snellville, GA
|
1,911
|
925
|
76
|
|
—
|
422
|
147
|
|
1,911
|
1,347
|
223
|
3,481
|
1,023
|
1992
|
10/1/2007
|
2 - 43
|
LH
|
Macon, GA
|
1,249
|
718
|
30
|
|
—
|
420
|
204
|
|
1,249
|
1,138
|
234
|
2,621
|
1,055
|
1992
|
10/1/2007
|
2 - 44
|
LH
|
Augusta, GA
|
1,631
|
845
|
46
|
|
—
|
300
|
103
|
|
1,631
|
1,145
|
149
|
2,925
|
932
|
1993
|
10/1/2007
|
2 - 42
|
LH
|
Ocala, FL
|
1,210
|
1,100
|
17
|
|
—
|
579
|
112
|
|
1,210
|
1,679
|
129
|
3,018
|
1,347
|
1993
|
10/1/2007
|
2 - 42
|
LH
|
Altamonte Springs, FL
|
1,649
|
974
|
22
|
|
—
|
450
|
135
|
|
1,649
|
1,424
|
157
|
3,230
|
969
|
1994
|
10/1/2007
|
2 - 44
|
LH
|
Florence, KY
|
—
|
741
|
52
|
|
1,191
|
347
|
165
|
|
1,191
|
1,088
|
217
|
2,496
|
833
|
1994
|
10/1/2007
|
2 - 47
|
LH
|
Gainesville, GA
|
1,537
|
965
|
19
|
|
—
|
348
|
140
|
|
1,537
|
1,313
|
159
|
3,009
|
963
|
1995
|
10/1/2007
|
2 - 43
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
LH
|
Peachtree City, GA
|
1,485
|
1,080
|
9
|
|
—
|
457
|
159
|
|
1,485
|
1,537
|
168
|
3,190
|
1,112
|
1995
|
10/1/2007
|
2 - 43
|
LH
|
Lawrenceville, GA
|
1,865
|
1,116
|
17
|
|
—
|
451
|
117
|
|
1,865
|
1,567
|
134
|
3,566
|
1,048
|
1996
|
10/1/2007
|
2 - 42
|
LH
|
Jensen Beach, FL
|
1,322
|
1,082
|
33
|
|
—
|
347
|
153
|
|
1,322
|
1,429
|
186
|
2,937
|
1,046
|
1996
|
10/1/2007
|
2 - 42
|
LH
|
Destin, FL
|
2,053
|
793
|
16
|
|
—
|
357
|
224
|
|
2,053
|
1,150
|
240
|
3,443
|
914
|
1996
|
10/1/2007
|
2 - 42
|
LH
|
Albany, GA
|
1,500
|
988
|
34
|
|
—
|
422
|
126
|
|
1,500
|
1,410
|
160
|
3,070
|
929
|
1997
|
10/1/2007
|
2 - 42
|
LH
|
Dublin, OH
|
1,572
|
1,205
|
18
|
|
—
|
510
|
259
|
|
1,572
|
1,715
|
277
|
3,564
|
1,144
|
1997
|
10/1/2007
|
2 - 42
|
LH
|
Columbia, SC
|
1,677
|
1,291
|
23
|
|
—
|
495
|
176
|
|
1,677
|
1,786
|
199
|
3,662
|
1,188
|
1997
|
10/1/2007
|
2 - 42
|
LH
|
Pineville, NC
|
1,262
|
879
|
11
|
|
—
|
495
|
195
|
|
1,262
|
1,374
|
206
|
2,842
|
888
|
1998
|
10/1/2007
|
2 - 44
|
LH
|
Johns Creek, GA
|
1,694
|
1,089
|
18
|
|
—
|
203
|
123
|
|
1,694
|
1,292
|
141
|
3,127
|
837
|
1998
|
10/1/2007
|
2 - 42
|
LH
|
Greensboro, NC
|
1,438
|
1,017
|
16
|
|
—
|
270
|
152
|
|
1,438
|
1,287
|
168
|
2,893
|
781
|
1999
|
10/1/2007
|
2 - 44
|
LH
|
Huntsville, AL
|
1,443
|
983
|
7
|
|
—
|
350
|
194
|
|
1,443
|
1,333
|
201
|
2,977
|
817
|
1999
|
10/1/2007
|
2 - 44
|
LH
|
Hickory, NC
|
1,333
|
1,029
|
7
|
|
—
|
313
|
166
|
|
1,333
|
1,342
|
173
|
2,848
|
766
|
1999
|
10/1/2007
|
2 - 44
|
LH
|
Tampa, FL
|
1,488
|
1,078
|
6
|
|
—
|
297
|
189
|
|
1,488
|
1,375
|
195
|
3,058
|
917
|
2000
|
10/1/2007
|
2 - 35
|
LH
|
Clarksville, TN
|
1,662
|
1,097
|
15
|
|
—
|
449
|
112
|
|
1,662
|
1,546
|
127
|
3,335
|
833
|
1999
|
10/1/2007
|
2 - 43
|
LH
|
Orlando, FL
|
1,165
|
749
|
21
|
|
—
|
264
|
137
|
|
1,165
|
1,013
|
158
|
2,336
|
683
|
2000
|
10/1/2007
|
2 - 35
|
LH
|
Concord, NH
|
1,329
|
935
|
7
|
|
—
|
359
|
172
|
|
1,329
|
1,294
|
179
|
2,802
|
698
|
2000
|
10/1/2007
|
2 - 35
|
LH
|
Orlando, FL
|
1,492
|
1,277
|
52
|
|
—
|
297
|
150
|
|
1,492
|
1,574
|
202
|
3,268
|
918
|
2000
|
10/1/2007
|
2 - 35
|
LH
|
Medina, OH
|
1,189
|
820
|
12
|
|
—
|
268
|
168
|
|
1,189
|
1,088
|
180
|
2,457
|
666
|
2000
|
10/1/2007
|
2 - 35
|
LH
|
Hoover, AL
|
1,401
|
966
|
17
|
|
—
|
350
|
160
|
|
1,401
|
1,316
|
177
|
2,894
|
786
|
2001
|
10/1/2007
|
2 - 36
|
LH
|
Boardman, OH
|
954
|
673
|
17
|
|
—
|
285
|
151
|
|
954
|
958
|
168
|
2,080
|
566
|
2001
|
10/1/2007
|
2 - 36
|
LH
|
Prattville, AL
|
1,481
|
1,016
|
27
|
|
—
|
336
|
134
|
|
1,481
|
1,352
|
161
|
2,994
|
794
|
2001
|
10/1/2007
|
2 - 36
|
LH
|
Bensalem, PA
|
1,645
|
600
|
17
|
|
—
|
346
|
160
|
|
1,645
|
946
|
177
|
2,768
|
561
|
2001
|
10/1/2007
|
2 - 36
|
LH
|
Lee’s Summit, MO
|
1,705
|
1,219
|
34
|
|
—
|
285
|
88
|
|
1,705
|
1,504
|
122
|
3,331
|
751
|
2002
|
10/1/2007
|
2 - 37
|
LH
|
Germantown, MD
|
1,439
|
1,069
|
27
|
|
—
|
306
|
138
|
|
1,439
|
1,375
|
165
|
2,979
|
775
|
2002
|
10/1/2007
|
2 - 37
|
LH
|
Independence, OH
|
1,241
|
686
|
26
|
|
—
|
231
|
106
|
|
1,241
|
917
|
132
|
2,290
|
515
|
2002
|
10/1/2007
|
2 - 37
|
LH
|
Hiram, GA
|
1,639
|
1,033
|
25
|
|
—
|
374
|
130
|
|
1,639
|
1,407
|
155
|
3,201
|
775
|
2002
|
10/1/2007
|
2 - 37
|
LH
|
Louisville, KY
|
1,405
|
980
|
18
|
|
—
|
238
|
113
|
|
1,405
|
1,218
|
131
|
2,754
|
639
|
2002
|
10/1/2007
|
2 - 37
|
LH
|
Bowie, MD
|
1,871
|
1,230
|
21
|
|
—
|
257
|
147
|
|
1,871
|
1,487
|
168
|
3,526
|
799
|
2002
|
10/1/2007
|
2 - 37
|
LH
|
Waldorf, MD
|
1,929
|
1,167
|
26
|
|
—
|
245
|
162
|
|
1,929
|
1,412
|
188
|
3,529
|
786
|
2002
|
10/1/2007
|
2 - 37
|
LH
|
West Palm Beach, FL
|
1,781
|
1,228
|
27
|
|
—
|
297
|
132
|
|
1,781
|
1,525
|
159
|
3,465
|
804
|
2002
|
10/1/2007
|
2 - 37
|
LH
|
Columbia, MD
|
1,918
|
1,439
|
40
|
|
—
|
268
|
161
|
|
1,918
|
1,707
|
201
|
3,826
|
894
|
2003
|
10/1/2007
|
2 - 38
|
LH
|
East Point, GA
|
1,052
|
1,232
|
21
|
|
—
|
291
|
143
|
|
1,052
|
1,523
|
164
|
2,739
|
816
|
2003
|
10/1/2007
|
2 - 38
|
LH
|
Lexington, KY
|
1,251
|
874
|
16
|
|
—
|
238
|
162
|
|
1,251
|
1,112
|
178
|
2,541
|
641
|
2003
|
10/1/2007
|
2 - 42
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
LH
|
Winter Haven, FL
|
1,285
|
1,149
|
39
|
|
—
|
276
|
124
|
|
1,285
|
1,425
|
163
|
2,873
|
768
|
2003
|
10/1/2007
|
2 - 38
|
LH
|
Jacksonville, FL
|
795
|
1,302
|
32
|
|
—
|
210
|
128
|
|
795
|
1,512
|
160
|
2,467
|
779
|
2003
|
10/1/2007
|
2 - 38
|
LH
|
Daphne, AL
|
1,130
|
757
|
30
|
|
—
|
308
|
111
|
|
1,130
|
1,065
|
141
|
2,336
|
642
|
2003
|
10/1/2007
|
2 - 38
|
LH
|
Anderson, SC
|
1,445
|
990
|
41
|
|
—
|
240
|
111
|
|
1,445
|
1,230
|
152
|
2,827
|
660
|
2004
|
10/1/2007
|
2 - 39
|
LH
|
Palm Harbor, FL
|
1,406
|
917
|
32
|
|
—
|
263
|
93
|
|
1,406
|
1,180
|
125
|
2,711
|
677
|
2004
|
10/1/2007
|
2 - 39
|
LH
|
West Chester, OH
|
1,371
|
927
|
31
|
|
—
|
248
|
79
|
|
1,371
|
1,175
|
110
|
2,656
|
649
|
2004
|
10/1/2007
|
2 - 39
|
LH
|
Jefferson City, MO
|
1,342
|
875
|
60
|
|
—
|
196
|
68
|
|
1,342
|
1,071
|
128
|
2,541
|
588
|
2004
|
10/1/2007
|
2 - 39
|
LH
|
Chantilly, VA
|
1,568
|
882
|
50
|
|
—
|
262
|
66
|
|
1,568
|
1,144
|
116
|
2,828
|
592
|
2004
|
10/1/2007
|
2 - 39
|
LH
|
Dawsonville, GA
|
1,084
|
1,321
|
51
|
|
—
|
188
|
100
|
|
1,084
|
1,509
|
151
|
2,744
|
766
|
2004
|
10/1/2007
|
2 - 39
|
LH
|
Opelika, AL
|
1,427
|
1,244
|
36
|
|
—
|
202
|
58
|
|
1,427
|
1,446
|
94
|
2,967
|
740
|
2004
|
10/1/2007
|
2 - 39
|
LH
|
Indianapolis, IN
|
1,298
|
854
|
55
|
|
—
|
211
|
51
|
|
1,298
|
1,065
|
106
|
2,469
|
584
|
2005
|
10/1/2007
|
2 - 40
|
LH
|
Grove City, OH
|
1,566
|
1,067
|
53
|
|
—
|
191
|
61
|
|
1,566
|
1,258
|
114
|
2,938
|
655
|
2005
|
10/1/2007
|
2 - 40
|
LH
|
Springfield, IL
|
1,573
|
1,451
|
65
|
|
—
|
182
|
79
|
|
1,573
|
1,633
|
144
|
3,350
|
844
|
2005
|
10/1/2007
|
2 - 40
|
LH
|
Covington, GA
|
887
|
1,212
|
70
|
|
—
|
45
|
49
|
|
887
|
1,257
|
119
|
2,263
|
640
|
2005
|
10/1/2007
|
2 - 40
|
LH
|
West Homestead, PA
|
1,418
|
947
|
79
|
|
—
|
33
|
91
|
|
1,418
|
980
|
170
|
2,568
|
553
|
2005
|
10/1/2007
|
2 - 40
|
LH
|
Carrollton, GA
|
1,192
|
1,227
|
75
|
|
—
|
15
|
49
|
|
1,192
|
1,242
|
124
|
2,558
|
650
|
2005
|
10/1/2007
|
2 - 40
|
LH
|
Tarentum, PA
|
1,414
|
931
|
91
|
|
—
|
84
|
46
|
|
1,414
|
1,015
|
137
|
2,566
|
557
|
2005
|
10/1/2007
|
2 - 40
|
LH
|
Commerce, GA
|
647
|
1,476
|
60
|
|
—
|
57
|
84
|
|
647
|
1,533
|
144
|
2,324
|
725
|
2006
|
10/1/2007
|
2 - 41
|
LH
|
East Ellijay, GA
|
1,126
|
1,272
|
70
|
|
—
|
21
|
82
|
|
1,126
|
1,293
|
152
|
2,571
|
669
|
2006
|
10/1/2007
|
2 - 41
|
LH
|
Acworth, GA
|
1,941
|
1,255
|
70
|
|
—
|
23
|
82
|
|
1,941
|
1,278
|
152
|
3,371
|
646
|
2006
|
10/1/2007
|
2 - 41
|
LH
|
Peoria, IL
|
1,299
|
848
|
81
|
|
—
|
143
|
46
|
|
1,299
|
991
|
127
|
2,417
|
563
|
2006
|
10/1/2007
|
2 - 41
|
LH
|
Hixson, TN
|
1,676
|
1,263
|
84
|
|
—
|
40
|
44
|
|
1,676
|
1,303
|
128
|
3,107
|
649
|
2006
|
10/1/2007
|
2 - 41
|
LH
|
Fredericksburg, VA
|
1,734
|
1,174
|
89
|
|
—
|
42
|
35
|
|
1,734
|
1,216
|
124
|
3,074
|
669
|
2006
|
10/1/2007
|
2 - 41
|
LH
|
Morgantown, WV
|
1,223
|
812
|
89
|
|
—
|
27
|
44
|
|
1,223
|
839
|
133
|
2,195
|
513
|
2006
|
10/1/2007
|
2 - 41
|
LH
|
Florence, SC
|
1,628
|
1,352
|
90
|
|
—
|
28
|
35
|
|
1,628
|
1,380
|
125
|
3,133
|
649
|
2006
|
10/1/2007
|
2 - 41
|
LH
|
Portage, IN
|
901
|
1,652
|
105
|
|
—
|
59
|
26
|
|
901
|
1,711
|
131
|
2,743
|
799
|
2006
|
10/1/2007
|
2 - 41
|
LH
|
Macon, GA
|
1,052
|
1,840
|
97
|
|
—
|
135
|
38
|
|
1,052
|
1,975
|
135
|
3,162
|
955
|
2007
|
10/1/2007
|
2 - 42
|
LH
|
Panama City Beach, FL
|
1,379
|
1,736
|
99
|
|
—
|
47
|
95
|
|
1,379
|
1,783
|
194
|
3,356
|
924
|
2007
|
10/1/2007
|
2 - 42
|
LH
|
LaGrange, GA
|
979
|
1,527
|
111
|
|
—
|
36
|
52
|
|
979
|
1,563
|
163
|
2,705
|
804
|
2007
|
10/1/2007
|
2 - 42
|
LH
|
Calhoun, GA
|
765
|
1,760
|
109
|
|
—
|
(4)
|
36
|
|
765
|
1,756
|
145
|
2,666
|
863
|
2007
|
10/1/2007
|
2 - 42
|
LH
|
Dublin, GA
|
389
|
1,910
|
140
|
|
—
|
27
|
23
|
|
389
|
1,937
|
163
|
2,489
|
871
|
2008
|
1/14/2008
|
2 - 43
|
LH
|
Monroe, GA
|
966
|
1,549
|
164
|
|
—
|
30
|
13
|
|
966
|
1,579
|
177
|
2,722
|
742
|
2008
|
4/28/2008
|
2 - 43
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
LH
|
Denham Springs, LA
|
1,306
|
2,049
|
283
|
|
—
|
35
|
12
|
|
1,306
|
2,084
|
295
|
3,685
|
1,168
|
2008
|
8/25/2008
|
2 - 43
|
LH
|
Cornelia, GA
|
106
|
1,542
|
281
|
|
282
|
52
|
8
|
|
388
|
1,594
|
289
|
2,271
|
897
|
2008
|
12/1/2008
|
2 - 43
|
LH
|
Richmond, VA
|
1,442
|
1,758
|
207
|
|
—
|
24
|
9
|
|
1,442
|
1,782
|
216
|
3,440
|
884
|
2009
|
2/23/2009
|
2 - 44
|
LH
|
San Antonio, TX
|
907
|
1,504
|
—
|
|
—
|
699
|
535
|
|
907
|
2,203
|
535
|
3,645
|
1,145
|
2010
|
1/18/2010
|
2 - 40
|
LH
|
Orlando, FL
|
1,406
|
1,701
|
253
|
|
—
|
23
|
6
|
|
1,406
|
1,724
|
259
|
3,389
|
785
|
2010
|
3/8/2010
|
2 - 45
|
LH
|
Thomasville, GA
|
730
|
1,688
|
229
|
|
—
|
19
|
5
|
|
730
|
1,707
|
234
|
2,671
|
815
|
2010
|
4/19/2010
|
2 - 45
|
LH
|
San Antonio, TX
|
947
|
1,436
|
—
|
|
—
|
444
|
543
|
|
947
|
1,880
|
543
|
3,370
|
1,079
|
2010
|
5/10/2010
|
2 - 40
|
LH
|
San Antonio, TX
|
1,206
|
1,583
|
—
|
|
—
|
245
|
540
|
|
1,206
|
1,828
|
540
|
3,574
|
1,029
|
2010
|
7/5/2010
|
2 - 40
|
LH
|
Jackson, TN
|
1,398
|
1,257
|
204
|
|
—
|
16
|
8
|
|
1,398
|
1,273
|
212
|
2,883
|
614
|
2010
|
7/19/2010
|
2 - 45
|
LH
|
Conyers, GA
|
589
|
1,797
|
198
|
|
—
|
30
|
21
|
|
589
|
1,827
|
219
|
2,635
|
805
|
2010
|
8/2/2010
|
2 - 45
|
LH
|
San Antonio, TX
|
—
|
1,382
|
735
|
|
1,990
|
249
|
(230)
|
|
1,990
|
1,631
|
505
|
4,126
|
980
|
2010
|
10/11/2010
|
2 - 40
|
LH
|
Fort Smith, AR
|
953
|
1,610
|
252
|
|
—
|
23
|
10
|
|
953
|
1,633
|
262
|
2,848
|
762
|
2010
|
11/1/2010
|
2 - 45
|
LH
|
Whitehall, PA
|
1,307
|
1,901
|
270
|
|
—
|
24
|
7
|
|
1,307
|
1,925
|
277
|
3,509
|
849
|
2010
|
12/6/2010
|
2 - 45
|
LH
|
New Braunfels, TX
|
—
|
1,330
|
681
|
|
—
|
145
|
(210)
|
|
—
|
1,475
|
471
|
1,946
|
856
|
2011
|
1/24/2011
|
2 - 40
|
LH
|
McAllen, TX
|
1,128
|
1,600
|
284
|
|
—
|
13
|
13
|
|
1,128
|
1,613
|
297
|
3,038
|
728
|
2011
|
3/28/2011
|
2 - 46
|
LH
|
Kingsland, GA
|
849
|
1,564
|
236
|
|
—
|
13
|
5
|
|
849
|
1,577
|
241
|
2,667
|
663
|
2011
|
4/25/2011
|
2 - 46
|
LH
|
Jonesboro, AR
|
902
|
1,704
|
234
|
|
—
|
15
|
1
|
|
902
|
1,719
|
235
|
2,856
|
724
|
2011
|
4/25/2011
|
2 - 46
|
LH
|
Hanover, MD
|
1,437
|
2,258
|
252
|
|
—
|
45
|
2
|
|
1,437
|
2,303
|
254
|
3,994
|
853
|
2011
|
5/16/2011
|
2 - 46
|
LH
|
Council Bluffs, IA
|
869
|
1,827
|
236
|
|
—
|
31
|
7
|
|
869
|
1,858
|
243
|
2,970
|
754
|
2011
|
5/31/2011
|
2 - 46
|
LH
|
San Antonio, TX
|
—
|
278
|
383
|
|
—
|
35
|
(302)
|
|
—
|
313
|
81
|
394
|
330
|
2011
|
6/20/2011
|
2 - 40
|
LH
|
Tupelo, MS
|
771
|
1,717
|
236
|
|
—
|
13
|
1
|
|
771
|
1,730
|
237
|
2,738
|
652
|
2011
|
8/29/2011
|
2 - 46
|
LH
|
Champaign, IL
|
1,499
|
1,725
|
267
|
|
—
|
4
|
3
|
|
1,499
|
1,729
|
270
|
3,498
|
691
|
2011
|
10/10/2011
|
2 - 46
|
LH
|
Rapid City, SD
|
965
|
1,869
|
252
|
|
—
|
2
|
3
|
|
965
|
1,871
|
255
|
3,091
|
767
|
2011
|
10/10/2011
|
2 - 46
|
LH
|
West Melbourne, FL
|
1,144
|
1,858
|
266
|
|
—
|
4
|
3
|
|
1,144
|
1,862
|
269
|
3,275
|
732
|
2011
|
11/21/2011
|
2 - 46
|
LH
|
Flowood, MS
|
1,088
|
1,803
|
327
|
|
34
|
—
|
2
|
|
1,122
|
1,803
|
329
|
3,254
|
770
|
2012
|
2/6/2012
|
2 - 47
|
LH
|
McAllen, TX
|
1,339
|
1,775
|
319
|
|
—
|
3
|
12
|
|
1,339
|
1,778
|
331
|
3,448
|
734
|
2012
|
2/27/2012
|
2 - 47
|
LH
|
Deptford, NJ
|
1,799
|
1,694
|
287
|
|
—
|
3
|
(2)
|
|
1,799
|
1,697
|
285
|
3,781
|
660
|
2012
|
3/26/2012
|
2 - 47
|
LH
|
Athens, GA
|
970
|
1,744
|
289
|
|
—
|
35
|
13
|
|
970
|
1,779
|
302
|
3,051
|
636
|
2012
|
10/29/2012
|
2 - 47
|
LH
|
Morehead City, NC
|
975
|
1,941
|
340
|
|
—
|
2
|
1
|
|
975
|
1,943
|
341
|
3,259
|
679
|
2013
|
1/14/2013
|
2 - 48
|
LH
|
Columbus, MS
|
1,155
|
1,993
|
256
|
|
—
|
4
|
4
|
|
1,155
|
1,997
|
260
|
3,412
|
608
|
2013
|
2/18/2013
|
2 - 48
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
LH
|
Sandusky, OH
|
1,081
|
2,027
|
263
|
|
—
|
—
|
2
|
|
1,081
|
2,027
|
265
|
3,373
|
621
|
2013
|
4/22/2013
|
2 - 48
|
LH
|
Coralville, IA
|
953
|
2,135
|
288
|
|
—
|
—
|
(3)
|
|
953
|
2,135
|
285
|
3,373
|
664
|
2013
|
5/13/2013
|
2 - 48
|
LH
|
Cleveland, TN
|
1,054
|
1,776
|
337
|
|
—
|
—
|
1
|
|
1,054
|
1,776
|
338
|
3,168
|
593
|
2013
|
5/13/2013
|
2 - 48
|
LH
|
Cincinnati, OH
|
1,205
|
1,758
|
291
|
|
—
|
—
|
3
|
|
1,205
|
1,758
|
294
|
3,257
|
543
|
2013
|
8/26/2013
|
2 - 48
|
LH
|
Minot, ND
|
887
|
2,230
|
314
|
|
—
|
15
|
17
|
|
887
|
2,245
|
331
|
3,463
|
640
|
2013
|
9/23/2013
|
2 - 48
|
LH
|
Bethlehem, GA
|
936
|
1,684
|
286
|
|
—
|
—
|
—
|
|
936
|
1,684
|
286
|
2,906
|
472
|
2014
|
1/20/2014
|
2 - 49
|
LH
|
Wilkes Barre, PA
|
859
|
2,227
|
278
|
|
—
|
6
|
—
|
|
859
|
2,233
|
278
|
3,370
|
584
|
2014
|
1/27/2014
|
2 - 49
|
LH
|
Columbia, SC
|
1,407
|
—
|
—
|
|
—
|
—
|
—
|
|
1,407
|
—
|
—
|
1,407
|
—
|
1997
|
12/7/2017
|
0 0
|
LH
|
Gadsden, AL
|
1,580
|
—
|
—
|
|
—
|
—
|
—
|
|
1,580
|
—
|
—
|
1,580
|
—
|
2018
|
4/19/2019
|
—
|
LH
|
Salisbury, MD
|
1,514
|
—
|
—
|
|
—
|
—
|
—
|
|
1,514
|
—
|
—
|
1,514
|
—
|
2011
|
10/21/2019
|
—
|
LH
|
Watertown, NY
|
1,437
|
—
|
—
|
|
—
|
—
|
—
|
|
1,437
|
—
|
—
|
1,437
|
—
|
2015
|
12/6/2019
|
—
|
LH/RT/ADB
|
Auburn, ME
|
3,355
|
—
|
—
|
|
—
|
—
|
—
|
|
3,355
|
—
|
—
|
3,355
|
—
|
2005
|
10/31/2019
|
—
|
MCA
|
Andrews, TX
|
283
|
1,772
|
—
|
|
—
|
—
|
—
|
|
283
|
1,772
|
—
|
2,055
|
117
|
2014
|
1/27/2017
|
14 - 54
|
MCA
|
San Angelo, TX
|
248
|
1,913
|
—
|
|
—
|
—
|
—
|
|
248
|
1,913
|
—
|
2,161
|
119
|
2014
|
1/27/2017
|
14 - 54
|
MCA
|
Shavano Park, TX
|
486
|
1,915
|
—
|
|
—
|
—
|
—
|
|
486
|
1,915
|
—
|
2,401
|
142
|
2014
|
2/16/2017
|
14 - 54
|
MCA
|
New Braunfels, TX
|
472
|
1,932
|
—
|
|
—
|
—
|
—
|
|
472
|
1,932
|
—
|
2,404
|
137
|
2017
|
3/16/2017
|
14 - 54
|
MCD
|
Altamonte Springs, FL
|
1,489
|
—
|
—
|
|
—
|
—
|
—
|
|
1,489
|
—
|
—
|
1,489
|
—
|
1991
|
1/12/2018
|
—
|
MCD
|
Kokoma, IN
|
1,671
|
—
|
—
|
|
—
|
—
|
—
|
|
1,671
|
—
|
—
|
1,671
|
—
|
2016
|
6/29/2018
|
—
|
MCD
|
Grand Junction, CO
|
1,163
|
—
|
—
|
|
—
|
—
|
—
|
|
1,163
|
—
|
—
|
1,163
|
—
|
1985
|
1/18/2019
|
—
|
MVS
|
Camp Hill, PA
|
1,148
|
—
|
—
|
|
—
|
—
|
—
|
|
1,148
|
—
|
—
|
1,148
|
—
|
2019
|
12/30/2019
|
—
|
OG
|
Greenwood, IN
|
400
|
749
|
1
|
|
—
|
1,883
|
625
|
|
400
|
2,632
|
626
|
3,658
|
2,254
|
1985
|
7/15/1985
|
2 - 49
|
OG
|
Indianapolis, IN
|
333
|
755
|
15
|
|
—
|
1,839
|
541
|
|
333
|
2,594
|
556
|
3,483
|
2,063
|
1985
|
7/15/1985
|
2 - 49
|
OG
|
Kissimmee, FL
|
400
|
710
|
2
|
|
—
|
1,803
|
615
|
|
400
|
2,513
|
617
|
3,530
|
2,446
|
1985
|
8/5/1985
|
2 - 42
|
OG
|
Huntsville, AL
|
317
|
719
|
1
|
|
—
|
1,092
|
338
|
|
317
|
1,811
|
339
|
2,467
|
1,724
|
1986
|
3/3/1986
|
2 - 36
|
OG
|
Las Vegas, NV
|
597
|
557
|
12
|
|
—
|
1,108
|
316
|
|
597
|
1,665
|
328
|
2,590
|
1,726
|
1986
|
3/31/1986
|
2 - 42
|
OG
|
Ocala, FL
|
470
|
416
|
11
|
|
—
|
2,112
|
383
|
|
470
|
2,528
|
394
|
3,392
|
2,071
|
1986
|
7/14/1986
|
2 - 48
|
OG
|
Granger, IN
|
220
|
650
|
15
|
|
—
|
1,309
|
348
|
|
220
|
1,959
|
363
|
2,542
|
2,019
|
1986
|
9/8/1986
|
2 - 42
|
OG
|
Toledo, OH
|
275
|
343
|
6
|
|
—
|
1,146
|
244
|
|
275
|
1,489
|
250
|
2,014
|
1,558
|
1986
|
9/15/1986
|
2 - 35
|
OG
|
Bradenton, FL
|
207
|
837
|
4
|
|
—
|
1,779
|
602
|
|
207
|
2,616
|
606
|
3,429
|
2,230
|
1986
|
11/3/1986
|
2 - 48
|
OG
|
Clearwater, FL
|
717
|
593
|
17
|
|
—
|
1,521
|
446
|
|
717
|
2,114
|
463
|
3,294
|
1,955
|
1986
|
12/2/1986
|
2 - 47
|
OG
|
North Richland Hills, TX
|
468
|
1,187
|
19
|
|
—
|
1,414
|
342
|
|
468
|
2,601
|
361
|
3,430
|
2,434
|
1986
|
12/15/1986
|
2 - 42
|
OG
|
Austin, TX
|
492
|
1,183
|
6
|
|
—
|
1,690
|
440
|
|
492
|
2,873
|
446
|
3,811
|
2,642
|
1987
|
1/12/1987
|
2 - 46
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
OG
|
Morrow, GA
|
446
|
813
|
10
|
|
—
|
1,448
|
423
|
|
446
|
2,261
|
433
|
3,140
|
2,247
|
1987
|
3/23/1987
|
2 - 42
|
OG
|
Mobile, AL
|
698
|
872
|
31
|
|
—
|
1,209
|
479
|
|
698
|
2,081
|
510
|
3,289
|
1,964
|
1987
|
5/18/1987
|
2 - 42
|
OG
|
Fort Worth, TX
|
654
|
626
|
29
|
|
—
|
1,273
|
403
|
|
654
|
1,899
|
432
|
2,985
|
1,854
|
1987
|
5/25/1987
|
2 - 46
|
OG
|
Fort Myers, FL
|
289
|
1,124
|
14
|
|
—
|
1,786
|
550
|
|
289
|
2,910
|
564
|
3,763
|
2,479
|
1987
|
5/25/1987
|
2 - 48
|
OG
|
Bakersfield, CA
|
529
|
861
|
54
|
|
—
|
1,294
|
264
|
|
529
|
2,155
|
318
|
3,002
|
2,070
|
1987
|
5/25/1987
|
2 - 36
|
OG
|
Tulsa, OK
|
702
|
637
|
23
|
|
—
|
1,137
|
291
|
|
702
|
1,774
|
314
|
2,790
|
1,699
|
1987
|
6/22/1987
|
2 - 42
|
OG
|
Mesquite, TX
|
721
|
772
|
10
|
|
238
|
1,650
|
435
|
|
959
|
2,422
|
445
|
3,826
|
2,148
|
1987
|
7/20/1987
|
2 - 46
|
OG
|
Indianapolis, IN
|
526
|
82
|
2
|
|
—
|
2,534
|
406
|
|
526
|
2,616
|
408
|
3,550
|
1,832
|
1987
|
7/20/1987
|
2 - 49
|
OG
|
Canton, OH
|
275
|
834
|
8
|
|
—
|
829
|
426
|
|
275
|
1,663
|
434
|
2,372
|
1,742
|
1987
|
9/21/1987
|
2 - 40
|
OG
|
Duluth, GA
|
675
|
906
|
18
|
|
351
|
1,247
|
313
|
|
1,026
|
2,153
|
331
|
3,510
|
2,065
|
1987
|
11/2/1987
|
2 - 42
|
OG
|
Reno, NV
|
—
|
639
|
29
|
|
1,215
|
1,581
|
560
|
|
1,215
|
2,220
|
589
|
4,024
|
2,427
|
1988
|
1/18/1988
|
2 - 35
|
OG
|
Orlando, FL
|
—
|
894
|
6
|
|
1,585
|
1,792
|
614
|
|
1,585
|
2,686
|
620
|
4,891
|
2,643
|
1988
|
2/1/1988
|
2 - 42
|
OG
|
Middleburg Heights, OH
|
555
|
882
|
18
|
|
—
|
1,285
|
400
|
|
555
|
2,167
|
418
|
3,140
|
2,163
|
1988
|
3/7/1988
|
2 - 42
|
OG
|
Knoxville, TN
|
375
|
1,397
|
33
|
|
—
|
700
|
220
|
|
375
|
2,097
|
253
|
2,725
|
2,030
|
1988
|
3/14/1988
|
2 - 40
|
OG
|
Fairfield, OH
|
325
|
1,230
|
15
|
|
—
|
1,303
|
276
|
|
325
|
2,533
|
291
|
3,149
|
2,323
|
1988
|
3/21/1988
|
2 - 46
|
OG
|
Akron, OH
|
577
|
1,048
|
6
|
|
—
|
879
|
281
|
|
577
|
1,927
|
287
|
2,791
|
1,802
|
1988
|
4/4/1988
|
2 - 40
|
OG
|
Fairview Heights, IL
|
735
|
1,162
|
19
|
|
—
|
1,163
|
518
|
|
735
|
2,325
|
537
|
3,597
|
2,366
|
1988
|
5/9/1988
|
2 - 35
|
OG
|
Grand Rapids, MI
|
—
|
959
|
14
|
|
749
|
753
|
288
|
|
749
|
1,712
|
302
|
2,763
|
1,757
|
1988
|
5/9/1988
|
2 - 35
|
OG
|
Toledo, OH
|
—
|
891
|
38
|
|
652
|
726
|
201
|
|
652
|
1,617
|
239
|
2,508
|
1,668
|
1988
|
5/23/1988
|
2 - 35
|
OG
|
Chattanooga, TN
|
604
|
760
|
19
|
|
—
|
937
|
405
|
|
604
|
1,697
|
424
|
2,725
|
1,740
|
1988
|
6/6/1988
|
2 - 35
|
OG
|
Lansing, IL
|
—
|
814
|
18
|
|
912
|
1,200
|
379
|
|
912
|
2,014
|
397
|
3,323
|
1,929
|
1988
|
6/20/1988
|
2 - 42
|
OG
|
Bloomington, MN
|
525
|
1,779
|
20
|
|
—
|
1,212
|
393
|
|
525
|
2,991
|
413
|
3,929
|
3,404
|
1988
|
6/28/1988
|
2 - 41
|
OG
|
Livonia, MI
|
—
|
459
|
25
|
|
890
|
2,624
|
331
|
|
890
|
3,083
|
356
|
4,329
|
2,936
|
1988
|
8/1/1988
|
2 - 37
|
OG
|
Irving, TX
|
710
|
647
|
33
|
|
—
|
1,603
|
309
|
|
710
|
2,250
|
342
|
3,302
|
1,971
|
1988
|
8/22/1988
|
2 - 46
|
OG
|
Montclair, CA
|
—
|
873
|
44
|
|
1,231
|
736
|
238
|
|
1,231
|
1,609
|
282
|
3,122
|
1,696
|
1988
|
9/5/1988
|
2 - 40
|
OG
|
Flint, MI
|
426
|
1,089
|
14
|
|
—
|
882
|
234
|
|
426
|
1,971
|
248
|
2,645
|
1,889
|
1988
|
9/5/1988
|
2 - 35
|
OG
|
Sarasota, FL
|
1,136
|
725
|
24
|
|
—
|
1,427
|
570
|
|
1,136
|
2,152
|
594
|
3,882
|
2,040
|
1988
|
10/10/1988
|
2 - 48
|
OG
|
Sterling Heights, MI
|
855
|
1,158
|
32
|
|
—
|
984
|
403
|
|
855
|
2,142
|
435
|
3,432
|
2,260
|
1988
|
10/17/1988
|
2 - 37
|
OG
|
Vernon Hills, IL
|
750
|
1,252
|
17
|
|
—
|
1,289
|
474
|
|
750
|
2,541
|
491
|
3,782
|
2,372
|
1988
|
10/24/1988
|
2 - 47
|
OG
|
Columbus, OH
|
740
|
909
|
38
|
|
—
|
1,057
|
232
|
|
740
|
1,966
|
270
|
2,976
|
1,808
|
1988
|
11/14/1988
|
2 - 40
|
OG
|
North Olmsted, OH
|
931
|
1,060
|
63
|
|
—
|
925
|
343
|
|
931
|
1,985
|
406
|
3,322
|
1,910
|
1988
|
12/5/1988
|
2 - 40
|
OG
|
West Des Moines, IA
|
—
|
377
|
24
|
|
1,130
|
2,047
|
338
|
|
1,130
|
2,424
|
362
|
3,916
|
2,173
|
1988
|
12/12/1988
|
2 - 36
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
OG
|
Oklahoma City, OK
|
280
|
1,043
|
58
|
|
—
|
1,095
|
371
|
|
280
|
2,138
|
429
|
2,847
|
1,893
|
1989
|
1/16/1989
|
2 - 42
|
OG
|
San Antonio, TX
|
400
|
783
|
17
|
|
—
|
1,458
|
449
|
|
400
|
2,241
|
466
|
3,107
|
2,126
|
1989
|
2/13/1989
|
2 - 41
|
OG
|
York, PA
|
555
|
931
|
31
|
|
—
|
1,048
|
462
|
|
555
|
1,979
|
493
|
3,027
|
1,992
|
1989
|
3/6/1989
|
2 - 42
|
OG
|
Brandon, FL
|
700
|
967
|
24
|
|
—
|
1,566
|
577
|
|
700
|
2,533
|
601
|
3,834
|
2,269
|
1989
|
3/27/1989
|
2 - 47
|
OG
|
Kennesaw, GA
|
754
|
824
|
32
|
|
—
|
1,233
|
390
|
|
754
|
2,057
|
422
|
3,233
|
1,824
|
1989
|
5/1/1989
|
2 - 47
|
OG
|
Plantation, FL
|
888
|
982
|
27
|
|
—
|
1,189
|
392
|
|
888
|
2,171
|
419
|
3,478
|
1,997
|
1989
|
5/8/1989
|
2 - 42
|
OG
|
San Antonio, TX
|
—
|
720
|
1
|
|
677
|
1,330
|
395
|
|
677
|
2,050
|
396
|
3,123
|
1,906
|
1989
|
5/22/1989
|
2 - 41
|
OG
|
Saint Peters, MO
|
697
|
930
|
134
|
|
—
|
1,034
|
292
|
|
697
|
1,964
|
426
|
3,087
|
1,896
|
1989
|
7/3/1989
|
2 - 35
|
OG
|
Corpus Christi, TX
|
—
|
713
|
21
|
|
880
|
1,463
|
553
|
|
880
|
2,176
|
574
|
3,630
|
2,051
|
1989
|
7/3/1989
|
2 - 36
|
OG
|
Houston, TX
|
616
|
746
|
40
|
|
—
|
1,228
|
492
|
|
616
|
1,974
|
532
|
3,122
|
1,914
|
1989
|
7/10/1989
|
2 - 39
|
OG
|
Saginaw, MI
|
828
|
813
|
22
|
|
—
|
787
|
340
|
|
828
|
1,600
|
362
|
2,790
|
1,661
|
1989
|
7/31/1989
|
2 - 40
|
OG
|
Portage, MI
|
325
|
1,290
|
32
|
|
—
|
892
|
266
|
|
325
|
2,182
|
298
|
2,805
|
2,072
|
1989
|
7/31/1989
|
2 - 35
|
OG
|
Beaumont, TX
|
608
|
721
|
33
|
|
—
|
1,163
|
375
|
|
608
|
1,884
|
408
|
2,900
|
1,814
|
1989
|
8/14/1989
|
2 - 40
|
OG
|
Winter Haven, FL
|
—
|
832
|
49
|
|
563
|
1,673
|
543
|
|
563
|
2,505
|
592
|
3,660
|
2,311
|
1989
|
8/14/1989
|
2 - 47
|
OG
|
West Dundee, IL
|
828
|
1,167
|
32
|
|
—
|
964
|
325
|
|
828
|
2,131
|
357
|
3,316
|
2,035
|
1989
|
8/28/1989
|
2 - 40
|
OG
|
Champaign, IL
|
521
|
1,158
|
26
|
|
—
|
1,009
|
343
|
|
521
|
2,167
|
369
|
3,057
|
2,094
|
1989
|
10/30/1989
|
2 - 35
|
OG
|
North Little Rock, AR
|
—
|
437
|
94
|
|
766
|
1,623
|
293
|
|
766
|
2,060
|
387
|
3,213
|
1,956
|
1989
|
10/30/1989
|
2 - 42
|
OG
|
Fort Wayne, IN
|
700
|
1,045
|
23
|
|
—
|
927
|
320
|
|
700
|
1,972
|
343
|
3,015
|
1,869
|
1989
|
12/11/1989
|
2 - 42
|
OG
|
Fargo, ND
|
313
|
864
|
20
|
|
—
|
680
|
264
|
|
313
|
1,544
|
284
|
2,141
|
1,508
|
1989
|
12/11/1989
|
2 - 40
|
OG
|
Southgate, MI
|
476
|
1,138
|
31
|
|
—
|
1,103
|
242
|
|
476
|
2,241
|
273
|
2,990
|
2,069
|
1990
|
1/22/1990
|
2 - 37
|
OG
|
Orlando, FL
|
787
|
998
|
17
|
|
—
|
1,877
|
431
|
|
787
|
2,875
|
448
|
4,110
|
2,426
|
1990
|
1/29/1990
|
2 - 48
|
OG
|
Fayetteville, NC
|
637
|
856
|
56
|
|
—
|
879
|
461
|
|
637
|
1,735
|
517
|
2,889
|
1,780
|
1990
|
2/26/1990
|
2 - 35
|
OG
|
Chesapeake, VA
|
506
|
863
|
44
|
|
—
|
1,046
|
344
|
|
506
|
1,909
|
388
|
2,803
|
1,897
|
1990
|
3/5/1990
|
2 - 40
|
OG
|
Las Vegas, NV
|
1,085
|
1,191
|
47
|
|
—
|
967
|
310
|
|
1,085
|
2,158
|
357
|
3,600
|
2,114
|
1990
|
3/26/1990
|
2 - 42
|
OG
|
Naples, FL
|
992
|
677
|
40
|
|
—
|
1,201
|
526
|
|
992
|
1,878
|
566
|
3,436
|
1,877
|
1990
|
3/26/1990
|
2 - 40
|
OG
|
Maplewood, MN
|
556
|
1,009
|
86
|
|
—
|
1,126
|
250
|
|
556
|
2,135
|
336
|
3,027
|
2,088
|
1990
|
4/16/1990
|
2 - 40
|
OG
|
Jacksonville, FL
|
—
|
755
|
39
|
|
905
|
1,137
|
487
|
|
905
|
1,892
|
526
|
3,323
|
1,895
|
1990
|
4/30/1990
|
2 - 42
|
OG
|
Rochester, NY
|
1,104
|
1,113
|
61
|
|
—
|
1,102
|
376
|
|
1,104
|
2,215
|
437
|
3,756
|
2,089
|
1990
|
5/14/1990
|
2 - 36
|
OG
|
Columbia, MO
|
602
|
983
|
53
|
|
—
|
1,070
|
327
|
|
602
|
2,053
|
380
|
3,035
|
1,917
|
1990
|
6/4/1990
|
2 - 42
|
OG
|
Greenfield, WI
|
956
|
802
|
29
|
|
114
|
1,174
|
295
|
|
1,070
|
1,976
|
324
|
3,370
|
1,850
|
1990
|
8/13/1990
|
2 - 42
|
OG
|
Lynnwood, WA
|
875
|
1,132
|
66
|
|
—
|
855
|
316
|
|
875
|
1,987
|
382
|
3,244
|
1,886
|
1990
|
8/20/1990
|
2 - 35
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
OG
|
Victorville, CA
|
603
|
985
|
31
|
|
—
|
888
|
271
|
|
603
|
1,873
|
302
|
2,778
|
1,689
|
1990
|
9/10/1990
|
2 - 42
|
OG
|
Richmond, VA
|
467
|
1,363
|
93
|
|
—
|
966
|
399
|
|
467
|
2,329
|
492
|
3,288
|
2,264
|
1990
|
9/17/1990
|
2 - 42
|
OG
|
Wichita, KS
|
779
|
802
|
80
|
|
—
|
1,022
|
274
|
|
779
|
1,824
|
354
|
2,957
|
1,763
|
1990
|
10/1/1990
|
2 - 42
|
OG
|
Antioch, TN
|
—
|
811
|
61
|
|
892
|
628
|
241
|
|
892
|
1,439
|
302
|
2,633
|
1,471
|
1990
|
10/15/1990
|
2 - 40
|
OG
|
Topeka, KS
|
701
|
812
|
18
|
|
—
|
1,658
|
381
|
|
701
|
2,470
|
399
|
3,570
|
2,162
|
1990
|
10/22/1990
|
2 - 47
|
OG
|
Orange City, FL
|
551
|
727
|
16
|
|
—
|
1,163
|
479
|
|
551
|
1,890
|
495
|
2,936
|
1,687
|
1990
|
10/29/1990
|
2 - 48
|
OG
|
Terre Haute, IN
|
560
|
1,128
|
34
|
|
—
|
872
|
355
|
|
560
|
2,000
|
389
|
2,949
|
1,917
|
1990
|
12/3/1990
|
2 - 35
|
OG
|
Columbia, SC
|
613
|
782
|
35
|
|
—
|
1,055
|
230
|
|
613
|
1,837
|
265
|
2,715
|
1,678
|
1990
|
12/3/1990
|
2 - 42
|
OG
|
Littleton, CO
|
750
|
859
|
79
|
|
—
|
1,324
|
359
|
|
750
|
2,183
|
438
|
3,371
|
2,076
|
1991
|
1/21/1991
|
2 - 40
|
OG
|
Colorado Springs, CO
|
—
|
690
|
87
|
|
571
|
2,173
|
415
|
|
571
|
2,863
|
502
|
3,936
|
2,715
|
1991
|
1/21/1991
|
2 - 41
|
OG
|
Miami, FL
|
1,059
|
879
|
89
|
|
—
|
1,413
|
549
|
|
1,059
|
2,292
|
638
|
3,989
|
2,244
|
1991
|
1/28/1991
|
2 - 42
|
OG
|
Parkersburg, WV
|
454
|
1,096
|
60
|
|
—
|
723
|
323
|
|
454
|
1,819
|
383
|
2,656
|
1,787
|
1991
|
2/11/1991
|
2 - 42
|
OG
|
Clovis, CA
|
489
|
796
|
62
|
|
—
|
787
|
300
|
|
489
|
1,583
|
362
|
2,434
|
1,623
|
1991
|
2/18/1991
|
2 - 42
|
OG
|
Dallas, TX
|
750
|
776
|
36
|
|
70
|
1,001
|
305
|
|
820
|
1,777
|
341
|
2,938
|
1,657
|
1991
|
2/25/1991
|
2 - 41
|
OG
|
Roseville, MN
|
754
|
1,106
|
90
|
|
—
|
784
|
178
|
|
754
|
1,890
|
268
|
2,912
|
1,742
|
1991
|
3/25/1991
|
2 - 40
|
OG
|
Eastpointe, MI
|
897
|
1,367
|
75
|
|
—
|
598
|
244
|
|
897
|
1,965
|
319
|
3,181
|
1,903
|
1991
|
3/25/1991
|
2 - 40
|
OG
|
Aurora, CO
|
803
|
1,169
|
14
|
|
—
|
1,368
|
343
|
|
803
|
2,537
|
357
|
3,697
|
2,234
|
1991
|
4/1/1991
|
2 - 41
|
OG
|
Talleyville, DE
|
737
|
1,278
|
95
|
|
—
|
805
|
377
|
|
737
|
2,083
|
472
|
3,292
|
2,137
|
1991
|
4/22/1991
|
2 - 40
|
OG
|
Boise, ID
|
627
|
839
|
76
|
|
—
|
858
|
386
|
|
627
|
1,697
|
462
|
2,786
|
1,702
|
1991
|
4/29/1991
|
2 - 42
|
OG
|
McAllen, TX
|
803
|
857
|
76
|
|
—
|
1,160
|
476
|
|
803
|
2,017
|
552
|
3,372
|
1,870
|
1991
|
4/29/1991
|
2 - 42
|
OG
|
Houston, TX
|
723
|
960
|
87
|
|
—
|
1,234
|
498
|
|
723
|
2,194
|
585
|
3,502
|
2,202
|
1991
|
5/20/1991
|
2 - 40
|
OG
|
Boardman, OH
|
675
|
993
|
48
|
|
—
|
1,208
|
329
|
|
675
|
2,201
|
377
|
3,253
|
2,103
|
1991
|
8/5/1991
|
2 - 38
|
OG
|
Jacksonville, FL
|
1,124
|
863
|
74
|
|
—
|
1,185
|
438
|
|
1,124
|
2,048
|
512
|
3,684
|
1,926
|
1991
|
8/12/1991
|
2 - 42
|
OG
|
West Melbourne, FL
|
983
|
953
|
22
|
|
—
|
1,390
|
578
|
|
983
|
2,343
|
600
|
3,926
|
2,125
|
1991
|
8/19/1991
|
2 - 47
|
OG
|
Omaha, NE
|
315
|
1,230
|
51
|
|
—
|
1,642
|
341
|
|
315
|
2,872
|
392
|
3,579
|
2,317
|
1991
|
10/28/1991
|
2 - 42
|
OG
|
Columbia, MD
|
1,283
|
1,199
|
92
|
|
—
|
1,020
|
297
|
|
1,283
|
2,219
|
389
|
3,891
|
2,135
|
1991
|
11/4/1991
|
2 - 42
|
OG
|
Houston, TX
|
627
|
947
|
68
|
|
—
|
1,084
|
435
|
|
627
|
2,031
|
503
|
3,161
|
1,992
|
1991
|
11/11/1991
|
2 - 40
|
OG
|
Provo, UT
|
702
|
714
|
128
|
|
—
|
805
|
284
|
|
702
|
1,519
|
412
|
2,633
|
1,529
|
1991
|
11/11/1991
|
2 - 40
|
OG
|
Roanoke, VA
|
607
|
714
|
33
|
|
—
|
783
|
350
|
|
607
|
1,497
|
383
|
2,487
|
1,450
|
1991
|
12/9/1991
|
2 - 42
|
OG
|
Pittsburgh, PA
|
1,125
|
1,170
|
65
|
|
—
|
1,202
|
279
|
|
1,125
|
2,372
|
344
|
3,841
|
2,083
|
1991
|
12/9/1991
|
2 - 38
|
OG
|
Harrisburg, PA
|
769
|
837
|
108
|
|
—
|
1,117
|
328
|
|
769
|
1,954
|
436
|
3,159
|
1,873
|
1991
|
12/9/1991
|
2 - 35
|
OG
|
Pineville, NC
|
1,018
|
972
|
71
|
|
—
|
950
|
281
|
|
1,018
|
1,922
|
352
|
3,292
|
1,872
|
1992
|
1/27/1992
|
2 - 42
|
OG
|
Palm Desert, CA
|
607
|
987
|
100
|
|
—
|
617
|
185
|
|
607
|
1,604
|
285
|
2,496
|
1,559
|
1992
|
1/27/1992
|
2 - 40
|
OG
|
Lafayette, LA
|
555
|
751
|
69
|
|
—
|
997
|
304
|
|
555
|
1,748
|
373
|
2,676
|
1,688
|
1992
|
1/27/1992
|
2 - 42
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
OG
|
Woodbridge, VA
|
1,228
|
1,071
|
56
|
|
—
|
1,163
|
444
|
|
1,228
|
2,234
|
500
|
3,962
|
2,130
|
1992
|
2/3/1992
|
2 - 41
|
OG
|
Elkhart, IN
|
381
|
724
|
145
|
|
—
|
683
|
281
|
|
381
|
1,407
|
426
|
2,214
|
1,513
|
1992
|
2/3/1992
|
2 - 40
|
OG
|
San Bernardino, CA
|
1,393
|
1,210
|
83
|
|
—
|
756
|
301
|
|
1,393
|
1,966
|
384
|
3,743
|
1,920
|
1992
|
3/9/1992
|
2 - 42
|
OG
|
Little Rock, AR
|
335
|
895
|
105
|
|
—
|
749
|
265
|
|
335
|
1,644
|
370
|
2,349
|
1,636
|
1992
|
3/9/1992
|
2 - 40
|
OG
|
Cincinnati, OH
|
842
|
953
|
107
|
|
—
|
986
|
344
|
|
842
|
1,939
|
451
|
3,232
|
1,947
|
1992
|
3/16/1992
|
2 - 38
|
OG
|
Myrtle Beach, SC
|
520
|
872
|
51
|
|
—
|
845
|
386
|
|
520
|
1,717
|
437
|
2,674
|
1,676
|
1992
|
3/16/1992
|
2 - 42
|
OG
|
Highlands Ranch, CO
|
813
|
980
|
49
|
|
—
|
1,177
|
380
|
|
813
|
2,157
|
429
|
3,399
|
1,938
|
1992
|
5/11/1992
|
2 - 41
|
OG
|
Novi, MI
|
866
|
1,629
|
31
|
|
—
|
867
|
296
|
|
866
|
2,496
|
327
|
3,689
|
2,271
|
1992
|
5/25/1992
|
2 - 42
|
OG
|
Louisville, KY
|
492
|
1,571
|
76
|
|
—
|
869
|
254
|
|
492
|
2,440
|
330
|
3,262
|
2,187
|
1992
|
6/15/1992
|
2 - 42
|
OG
|
Palmdale, CA
|
679
|
1,080
|
109
|
|
—
|
1,093
|
315
|
|
679
|
2,173
|
424
|
3,276
|
1,966
|
1992
|
8/3/1992
|
2 - 39
|
OG
|
Clarksville, TN
|
302
|
771
|
101
|
|
—
|
443
|
207
|
|
302
|
1,214
|
308
|
1,824
|
1,225
|
1992
|
8/3/1992
|
2 - 38
|
OG
|
Cincinnati, OH
|
917
|
939
|
62
|
|
—
|
1,041
|
360
|
|
917
|
1,980
|
422
|
3,319
|
1,855
|
1992
|
8/17/1992
|
2 - 38
|
OG
|
Greensburg, PA
|
579
|
1,272
|
143
|
|
—
|
1,026
|
352
|
|
579
|
2,298
|
495
|
3,372
|
1,944
|
1992
|
8/31/1992
|
2 - 40
|
OG
|
Sioux Falls, SD
|
247
|
1,325
|
78
|
|
—
|
917
|
217
|
|
247
|
2,242
|
295
|
2,784
|
1,975
|
1992
|
9/7/1992
|
2 - 40
|
OG
|
Roswell, GA
|
838
|
897
|
79
|
|
—
|
764
|
339
|
|
838
|
1,661
|
418
|
2,917
|
1,678
|
1992
|
9/14/1992
|
2 - 40
|
OG
|
Green Bay, WI
|
453
|
789
|
97
|
|
—
|
675
|
260
|
|
453
|
1,464
|
357
|
2,274
|
1,515
|
1992
|
9/14/1992
|
2 - 40
|
OG
|
Harlingen, TX
|
453
|
803
|
107
|
|
—
|
1,013
|
426
|
|
453
|
1,816
|
533
|
2,802
|
1,605
|
1992
|
10/19/1992
|
2 - 42
|
OG
|
Erie, PA
|
1,078
|
1,412
|
91
|
|
—
|
1,129
|
408
|
|
1,078
|
2,541
|
499
|
4,118
|
2,342
|
1992
|
11/2/1992
|
2 - 42
|
OG
|
Chico, CA
|
984
|
923
|
95
|
|
—
|
850
|
308
|
|
984
|
1,773
|
403
|
3,160
|
1,673
|
1992
|
11/9/1992
|
2 - 40
|
OG
|
Las Vegas, NV
|
1,055
|
1,005
|
108
|
|
—
|
849
|
297
|
|
1,055
|
1,854
|
405
|
3,314
|
1,855
|
1992
|
12/14/1992
|
2 - 42
|
OG
|
Laurel, MD
|
1,241
|
1,552
|
121
|
|
—
|
1,403
|
388
|
|
1,241
|
2,955
|
509
|
4,705
|
2,752
|
1993
|
1/25/1993
|
2 - 42
|
OG
|
Racine, WI
|
608
|
1,247
|
140
|
|
—
|
914
|
198
|
|
608
|
2,161
|
338
|
3,107
|
1,982
|
1993
|
2/1/1993
|
2 - 40
|
OG
|
Fort Collins, CO
|
809
|
1,105
|
97
|
|
—
|
1,011
|
350
|
|
809
|
2,116
|
447
|
3,372
|
2,083
|
1993
|
2/8/1993
|
2 - 41
|
OG
|
Longview, TX
|
505
|
816
|
90
|
|
—
|
1,133
|
290
|
|
505
|
1,949
|
380
|
2,834
|
1,720
|
1993
|
2/22/1993
|
2 - 45
|
OG
|
Raleigh, NC
|
855
|
877
|
76
|
|
—
|
855
|
318
|
|
855
|
1,732
|
394
|
2,981
|
1,743
|
1993
|
3/8/1993
|
2 - 42
|
OG
|
Yakima, WA
|
—
|
1,296
|
124
|
|
409
|
568
|
294
|
|
409
|
1,864
|
418
|
2,691
|
1,966
|
1993
|
3/22/1993
|
2 - 40
|
OG
|
Lafayette, IN
|
455
|
875
|
98
|
|
—
|
635
|
221
|
|
455
|
1,510
|
319
|
2,284
|
1,541
|
1993
|
3/22/1993
|
2 - 40
|
OG
|
Arlington, TX
|
782
|
766
|
70
|
|
—
|
795
|
441
|
|
782
|
1,561
|
511
|
2,854
|
1,627
|
1993
|
3/29/1993
|
2 - 44
|
OG
|
Mesa, AZ
|
551
|
888
|
97
|
|
—
|
803
|
274
|
|
551
|
1,691
|
371
|
2,613
|
1,605
|
1993
|
4/12/1993
|
2 - 40
|
OG
|
Dover, DE
|
614
|
1,055
|
127
|
|
—
|
656
|
279
|
|
614
|
1,711
|
406
|
2,731
|
1,650
|
1993
|
4/19/1993
|
2 - 38
|
OG
|
Addison, TX
|
1,221
|
1,746
|
79
|
|
—
|
1,032
|
374
|
|
1,221
|
2,778
|
453
|
4,452
|
2,582
|
1993
|
4/26/1993
|
2 - 41
|
OG
|
Appleton, WI
|
424
|
956
|
117
|
|
—
|
646
|
216
|
|
424
|
1,602
|
333
|
2,359
|
1,543
|
1993
|
5/17/1993
|
2 - 40
|
OG
|
Duncanville, TX
|
835
|
1,057
|
91
|
|
—
|
945
|
370
|
|
835
|
2,002
|
461
|
3,298
|
1,862
|
1993
|
6/28/1993
|
2 - 40
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
OG
|
Kenner, LA
|
695
|
969
|
86
|
|
—
|
1,112
|
361
|
|
695
|
2,081
|
447
|
3,223
|
2,036
|
1993
|
7/5/1993
|
2 - 40
|
OG
|
Texas City, TX
|
732
|
1,093
|
97
|
|
—
|
871
|
319
|
|
732
|
1,964
|
416
|
3,112
|
1,838
|
1993
|
7/19/1993
|
2 - 44
|
OG
|
Muncie, IN
|
454
|
1,003
|
92
|
|
—
|
1,065
|
296
|
|
454
|
2,068
|
388
|
2,910
|
1,576
|
1993
|
8/23/1993
|
2 - 49
|
OG
|
Panama City, FL
|
465
|
957
|
84
|
|
—
|
1,082
|
400
|
|
465
|
2,039
|
484
|
2,988
|
1,786
|
1993
|
10/11/1993
|
2 - 42
|
OG
|
Billings, MT
|
479
|
1,107
|
89
|
|
—
|
775
|
301
|
|
479
|
1,882
|
390
|
2,751
|
1,763
|
1993
|
10/18/1993
|
2 - 42
|
OG
|
Whitehall, PA
|
936
|
1,291
|
90
|
|
—
|
1,025
|
331
|
|
936
|
2,316
|
421
|
3,673
|
2,174
|
1993
|
11/8/1993
|
2 - 36
|
OG
|
Paducah, KY
|
452
|
1,083
|
82
|
|
—
|
700
|
288
|
|
452
|
1,783
|
370
|
2,605
|
1,666
|
1993
|
11/8/1993
|
2 - 40
|
OG
|
Rochester, NY
|
974
|
1,108
|
101
|
|
—
|
824
|
243
|
|
974
|
1,932
|
344
|
3,250
|
1,659
|
1993
|
11/15/1993
|
2 - 42
|
OG
|
Poughkeepsie, NY
|
873
|
1,613
|
108
|
|
—
|
823
|
174
|
|
873
|
2,436
|
282
|
3,591
|
2,000
|
1993
|
11/29/1993
|
2 - 40
|
OG
|
Bangor, ME
|
357
|
1,120
|
96
|
|
—
|
1,027
|
282
|
|
357
|
2,147
|
378
|
2,882
|
1,888
|
1993
|
12/13/1993
|
2 - 42
|
OG
|
Dearborn, MI
|
542
|
1,219
|
59
|
|
—
|
713
|
242
|
|
542
|
1,932
|
301
|
2,775
|
1,746
|
1994
|
1/10/1994
|
2 - 40
|
OG
|
Newington, NH
|
915
|
1,051
|
103
|
|
—
|
803
|
355
|
|
915
|
1,854
|
458
|
3,227
|
1,782
|
1994
|
1/17/1994
|
2 - 42
|
OG
|
Tyler, TX
|
485
|
1,041
|
92
|
|
—
|
1,279
|
340
|
|
485
|
2,320
|
432
|
3,237
|
2,003
|
1994
|
1/17/1994
|
2 - 47
|
OG
|
Grand Rapids, MI
|
804
|
866
|
87
|
|
—
|
637
|
257
|
|
804
|
1,503
|
344
|
2,651
|
1,493
|
1994
|
1/24/1994
|
2 - 40
|
OG
|
Peoria, IL
|
668
|
1,204
|
81
|
|
—
|
914
|
323
|
|
668
|
2,118
|
404
|
3,190
|
1,888
|
1994
|
2/14/1994
|
2 - 42
|
OG
|
Concord, NH
|
469
|
1,284
|
115
|
|
—
|
594
|
194
|
|
469
|
1,878
|
309
|
2,656
|
1,661
|
1994
|
2/14/1994
|
2 - 38
|
OG
|
Janesville, WI
|
370
|
1,069
|
86
|
|
—
|
712
|
287
|
|
370
|
1,781
|
373
|
2,524
|
1,582
|
1994
|
3/7/1994
|
2 - 40
|
OG
|
Las Vegas, NV
|
879
|
1,344
|
95
|
|
—
|
596
|
317
|
|
879
|
1,940
|
412
|
3,231
|
1,801
|
1994
|
3/7/1994
|
2 - 40
|
OG
|
Middletown, OH
|
424
|
1,044
|
95
|
|
—
|
863
|
318
|
|
424
|
1,907
|
413
|
2,744
|
1,817
|
1994
|
3/7/1994
|
2 - 42
|
OG
|
Branson, MO
|
1,056
|
1,893
|
69
|
|
—
|
785
|
295
|
|
1,056
|
2,678
|
364
|
4,098
|
2,303
|
1994
|
5/16/1994
|
2 - 40
|
OG
|
Coon Rapids, MN
|
514
|
1,248
|
67
|
|
—
|
588
|
245
|
|
514
|
1,836
|
312
|
2,662
|
1,686
|
1994
|
9/26/1994
|
2 - 40
|
OG
|
Dallas, TX
|
764
|
1,212
|
55
|
|
—
|
811
|
281
|
|
764
|
2,023
|
336
|
3,123
|
1,871
|
1994
|
10/10/1994
|
2 - 44
|
OG
|
Asheville, NC
|
2,651
|
1,198
|
94
|
|
—
|
655
|
292
|
|
2,651
|
1,853
|
386
|
4,890
|
1,747
|
1994
|
10/31/1994
|
2 - 40
|
OG
|
Cedar Rapids, IA
|
510
|
1,148
|
105
|
|
—
|
608
|
311
|
|
510
|
1,756
|
416
|
2,682
|
1,669
|
1994
|
12/5/1994
|
2 - 40
|
OG
|
Amherst, NY
|
1,215
|
1,394
|
88
|
|
—
|
891
|
307
|
|
1,215
|
2,285
|
395
|
3,895
|
2,036
|
1994
|
12/12/1994
|
2 - 38
|
OG
|
Joplin, MO
|
654
|
1,219
|
102
|
|
—
|
662
|
323
|
|
654
|
1,881
|
425
|
2,960
|
1,763
|
1995
|
1/9/1995
|
2 - 40
|
OG
|
Eau Claire, WI
|
600
|
1,193
|
110
|
|
—
|
538
|
268
|
|
600
|
1,731
|
378
|
2,709
|
1,643
|
1995
|
1/23/1995
|
2 - 40
|
OG
|
Middletown, NY
|
807
|
1,581
|
97
|
|
—
|
592
|
345
|
|
807
|
2,173
|
442
|
3,422
|
1,974
|
1995
|
1/30/1995
|
2 - 40
|
OG
|
Fairborn, OH
|
804
|
1,290
|
82
|
|
—
|
681
|
221
|
|
804
|
1,971
|
303
|
3,078
|
1,760
|
1995
|
2/20/1995
|
2 - 40
|
OG
|
VooRDIees, NJ
|
804
|
1,696
|
101
|
|
—
|
600
|
303
|
|
804
|
2,296
|
404
|
3,504
|
2,053
|
1995
|
2/20/1995
|
2 - 38
|
OG
|
Henderson, NV
|
1,109
|
1,289
|
74
|
|
—
|
826
|
383
|
|
1,109
|
2,115
|
457
|
3,681
|
2,001
|
1995
|
2/20/1995
|
2 - 42
|
OG
|
Barboursville, WV
|
1,139
|
1,062
|
84
|
|
—
|
731
|
203
|
|
1,139
|
1,793
|
287
|
3,219
|
1,552
|
1995
|
2/27/1995
|
2 - 40
|
OG
|
Norman, OK
|
596
|
1,246
|
96
|
|
—
|
449
|
172
|
|
596
|
1,695
|
268
|
2,559
|
1,516
|
1995
|
3/7/1995
|
2 - 38
|
OG
|
Hampton, VA
|
1,074
|
1,061
|
86
|
|
—
|
674
|
225
|
|
1,074
|
1,735
|
311
|
3,120
|
1,573
|
1995
|
3/13/1995
|
2 - 40
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
OG
|
Jackson, MI
|
699
|
1,156
|
73
|
|
—
|
764
|
320
|
|
699
|
1,920
|
393
|
3,012
|
1,675
|
1995
|
3/20/1995
|
2 - 42
|
OG
|
Clay, NY
|
782
|
1,705
|
98
|
|
—
|
866
|
356
|
|
782
|
2,571
|
454
|
3,807
|
2,135
|
1995
|
4/24/1995
|
2 - 42
|
OG
|
Onalaska, WI
|
603
|
1,283
|
102
|
|
—
|
339
|
197
|
|
603
|
1,622
|
299
|
2,524
|
1,503
|
1995
|
4/24/1995
|
2 - 38
|
OG
|
Grapevine, TX
|
752
|
1,026
|
99
|
|
—
|
793
|
404
|
|
752
|
1,819
|
503
|
3,074
|
1,827
|
1995
|
5/8/1995
|
2 - 40
|
OG
|
Tempe, AZ
|
703
|
1,131
|
75
|
|
—
|
746
|
353
|
|
703
|
1,877
|
428
|
3,008
|
1,842
|
1995
|
5/15/1995
|
2 - 40
|
OG
|
Waldorf, MD
|
779
|
1,152
|
81
|
|
—
|
1,258
|
357
|
|
779
|
2,410
|
438
|
3,627
|
2,196
|
1995
|
5/22/1995
|
2 - 42
|
OG
|
Heath, OH
|
599
|
1,353
|
65
|
|
—
|
971
|
331
|
|
599
|
2,324
|
396
|
3,319
|
1,975
|
1995
|
5/22/1995
|
2 - 46
|
OG
|
Waterloo, IA
|
466
|
891
|
79
|
|
—
|
873
|
331
|
|
466
|
1,764
|
410
|
2,640
|
1,560
|
1995
|
5/22/1995
|
2 - 42
|
OG
|
Peoria, AZ
|
551
|
1,294
|
81
|
|
—
|
623
|
242
|
|
551
|
1,917
|
323
|
2,791
|
1,717
|
1995
|
5/22/1995
|
2 - 38
|
OG
|
Spring, TX
|
780
|
1,329
|
80
|
|
—
|
1,289
|
327
|
|
780
|
2,618
|
407
|
3,805
|
2,206
|
1995
|
9/11/1995
|
2 - 40
|
OG
|
Midland, TX
|
400
|
1,340
|
88
|
|
—
|
566
|
314
|
|
400
|
1,906
|
402
|
2,708
|
1,721
|
1995
|
10/16/1995
|
2 - 40
|
OG
|
Colonie, NY
|
966
|
1,862
|
57
|
|
—
|
984
|
273
|
|
966
|
2,846
|
330
|
4,142
|
2,236
|
1995
|
11/27/1995
|
2 - 42
|
OG
|
Fort Smith, AR
|
527
|
893
|
113
|
|
—
|
427
|
187
|
|
527
|
1,320
|
300
|
2,147
|
1,187
|
1996
|
2/19/1996
|
2 - 38
|
OG
|
Jackson, MS
|
641
|
1,195
|
110
|
|
—
|
846
|
268
|
|
641
|
2,041
|
378
|
3,060
|
1,798
|
1996
|
3/25/1996
|
2 - 42
|
OG
|
Lancaster, OH
|
372
|
846
|
115
|
|
—
|
603
|
284
|
|
372
|
1,449
|
399
|
2,220
|
1,355
|
1996
|
5/6/1996
|
2 - 40
|
OG
|
Lima, OH
|
471
|
930
|
67
|
|
—
|
387
|
282
|
|
471
|
1,317
|
349
|
2,137
|
1,252
|
1996
|
5/20/1996
|
2 - 38
|
OG
|
Dubuque, IA
|
518
|
1,103
|
76
|
|
—
|
391
|
221
|
|
518
|
1,494
|
297
|
2,309
|
1,160
|
1996
|
5/20/1996
|
2 - 38
|
OG
|
Zanesville, OH
|
707
|
1,065
|
25
|
|
—
|
673
|
323
|
|
707
|
1,738
|
348
|
2,793
|
1,480
|
1996
|
8/5/1996
|
2 - 40
|
OG
|
Williamsburg, VA
|
673
|
1,268
|
31
|
|
—
|
743
|
202
|
|
673
|
2,011
|
233
|
2,917
|
1,600
|
1996
|
8/19/1996
|
2 - 40
|
OG
|
Frederick, MD
|
638
|
1,276
|
79
|
|
—
|
787
|
344
|
|
638
|
2,063
|
423
|
3,124
|
1,734
|
1996
|
10/21/1996
|
2 - 40
|
OG
|
Hyannis, MA
|
664
|
2,097
|
90
|
|
—
|
665
|
175
|
|
664
|
2,762
|
265
|
3,691
|
2,241
|
1997
|
11/17/1997
|
2 - 35
|
OG
|
Westminster, MD
|
595
|
1,741
|
124
|
|
—
|
452
|
204
|
|
595
|
2,193
|
328
|
3,116
|
1,704
|
1998
|
4/20/1998
|
2 - 38
|
OG
|
Wyomissing, PA
|
963
|
1,926
|
109
|
|
—
|
498
|
206
|
|
963
|
2,424
|
315
|
3,702
|
1,941
|
1998
|
5/11/1998
|
2 - 38
|
OG
|
Eugene, OR
|
761
|
1,486
|
91
|
|
—
|
356
|
200
|
|
761
|
1,842
|
291
|
2,894
|
1,582
|
1998
|
5/11/1998
|
2 - 38
|
OG
|
Savannah, GA
|
952
|
1,781
|
189
|
|
—
|
660
|
147
|
|
952
|
2,441
|
336
|
3,729
|
1,847
|
2000
|
4/10/2000
|
2 - 35
|
OG
|
Douglasville, GA
|
1,189
|
1,978
|
144
|
|
—
|
406
|
248
|
|
1,189
|
2,384
|
392
|
3,965
|
1,907
|
2000
|
5/1/2000
|
2 - 35
|
OG
|
Mentor, OH
|
—
|
1,955
|
138
|
|
1,474
|
288
|
241
|
|
1,474
|
2,243
|
379
|
4,096
|
1,791
|
2000
|
5/22/2000
|
2 - 35
|
OG
|
Buford, GA
|
1,493
|
1,688
|
179
|
|
—
|
542
|
203
|
|
1,493
|
2,230
|
382
|
4,105
|
1,741
|
2000
|
5/22/2000
|
2 - 35
|
OG
|
Maple Grove, MN
|
807
|
1,924
|
176
|
|
—
|
227
|
124
|
|
807
|
2,151
|
300
|
3,258
|
1,630
|
2000
|
5/22/2000
|
2 - 35
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
OG
|
Coeur D’Alene, ID
|
681
|
1,661
|
131
|
|
—
|
278
|
305
|
|
681
|
1,939
|
436
|
3,056
|
1,522
|
2001
|
1/29/2001
|
2 - 36
|
OG
|
Olathe, KS
|
796
|
2,121
|
109
|
|
—
|
489
|
256
|
|
796
|
2,610
|
365
|
3,771
|
1,925
|
2001
|
3/12/2001
|
2 - 36
|
OG
|
Kennewick, WA
|
763
|
1,980
|
149
|
|
—
|
259
|
158
|
|
763
|
2,239
|
307
|
3,309
|
1,672
|
2001
|
5/14/2001
|
2 - 36
|
OG
|
Frisco, TX
|
1,029
|
2,038
|
139
|
|
—
|
279
|
218
|
|
1,029
|
2,317
|
357
|
3,703
|
1,820
|
2001
|
6/25/2001
|
2 - 36
|
OG
|
Bolingbrook, IL
|
1,006
|
2,424
|
147
|
|
—
|
253
|
129
|
|
1,006
|
2,677
|
276
|
3,959
|
1,914
|
2001
|
7/23/2001
|
2 - 36
|
OG
|
Muskegon, MI
|
691
|
1,704
|
168
|
|
—
|
108
|
41
|
|
691
|
1,812
|
209
|
2,712
|
1,310
|
2001
|
10/8/2001
|
2 - 36
|
OG
|
Memphis, TN
|
1,142
|
1,790
|
100
|
|
—
|
246
|
171
|
|
1,142
|
2,036
|
271
|
3,449
|
1,466
|
2001
|
10/8/2001
|
2 - 36
|
OG
|
Round Rock, TX
|
953
|
2,090
|
149
|
|
—
|
335
|
153
|
|
953
|
2,425
|
302
|
3,680
|
1,640
|
2002
|
3/25/2002
|
2 - 37
|
OG
|
Killeen, TX
|
806
|
1,705
|
187
|
|
—
|
322
|
118
|
|
806
|
2,027
|
305
|
3,138
|
1,551
|
2002
|
8/5/2002
|
2 - 37
|
OG
|
Austin, TX
|
1,239
|
2,295
|
154
|
|
—
|
168
|
96
|
|
1,239
|
2,463
|
250
|
3,952
|
1,702
|
2002
|
9/3/2002
|
2 - 37
|
OG
|
Omaha, NE
|
1,202
|
1,778
|
120
|
|
—
|
217
|
147
|
|
1,202
|
1,995
|
267
|
3,464
|
1,418
|
2002
|
10/7/2002
|
2 - 37
|
OG
|
Bloomington, IN
|
947
|
1,747
|
150
|
|
—
|
419
|
94
|
|
947
|
2,166
|
244
|
3,357
|
1,479
|
2002
|
11/18/2002
|
2 - 37
|
OG
|
Lithonia, GA
|
1,403
|
1,872
|
174
|
|
—
|
306
|
122
|
|
1,403
|
2,178
|
296
|
3,877
|
1,496
|
2002
|
11/18/2002
|
2 - 37
|
OG
|
Fayetteville, AR
|
849
|
1,845
|
160
|
|
—
|
138
|
79
|
|
849
|
1,983
|
239
|
3,071
|
1,388
|
2002
|
12/11/2002
|
2 - 37
|
OG
|
Rochester, MN
|
829
|
1,889
|
192
|
|
—
|
146
|
140
|
|
829
|
2,035
|
332
|
3,196
|
1,466
|
2002
|
12/16/2002
|
2 - 37
|
OG
|
Los Angeles, CA
|
1,701
|
2,558
|
202
|
|
—
|
170
|
70
|
|
1,701
|
2,728
|
272
|
4,701
|
1,794
|
2003
|
3/24/2003
|
2 - 38
|
OG
|
Dayton, OH
|
677
|
1,675
|
172
|
|
—
|
210
|
72
|
|
677
|
1,885
|
244
|
2,806
|
1,288
|
2003
|
5/1/2003
|
2 - 38
|
OG
|
Newport News, VA
|
796
|
1,989
|
172
|
|
—
|
88
|
63
|
|
796
|
2,077
|
235
|
3,108
|
1,413
|
2003
|
5/5/2003
|
2 - 38
|
OG
|
Albuquerque, NM
|
771
|
1,716
|
179
|
|
—
|
131
|
104
|
|
771
|
1,847
|
283
|
2,901
|
1,280
|
2003
|
5/19/2003
|
2 - 38
|
OG
|
Denton, TX
|
869
|
1,946
|
177
|
|
—
|
182
|
94
|
|
869
|
2,128
|
271
|
3,268
|
1,512
|
2003
|
6/9/2003
|
2 - 38
|
OG
|
Duluth, MN
|
886
|
2,043
|
173
|
|
—
|
123
|
58
|
|
886
|
2,166
|
231
|
3,283
|
1,429
|
2003
|
11/10/2003
|
2 - 38
|
OG
|
Fort Gratiot, MI
|
604
|
2,246
|
186
|
|
—
|
132
|
57
|
|
604
|
2,378
|
243
|
3,225
|
1,535
|
2003
|
11/17/2003
|
2 - 38
|
OG
|
Lynchburg, VA
|
771
|
2,304
|
125
|
|
—
|
103
|
54
|
|
771
|
2,407
|
179
|
3,357
|
1,466
|
2004
|
2/16/2004
|
2 - 39
|
OG
|
Visalia, CA
|
1,151
|
1,830
|
151
|
|
—
|
133
|
46
|
|
1,151
|
1,963
|
197
|
3,311
|
1,221
|
2004
|
3/15/2004
|
2 - 39
|
OG
|
Anderson, SC
|
903
|
1,841
|
133
|
|
226
|
181
|
111
|
|
1,129
|
2,022
|
244
|
3,395
|
1,368
|
2004
|
3/29/2004
|
2 - 39
|
OG
|
Lake Charles, LA
|
806
|
2,070
|
161
|
|
—
|
174
|
87
|
|
806
|
2,244
|
248
|
3,298
|
1,495
|
2004
|
4/5/2004
|
2 - 39
|
OG
|
Tucson, AZ
|
1,019
|
2,073
|
104
|
|
—
|
121
|
135
|
|
1,019
|
2,194
|
239
|
3,452
|
1,371
|
2004
|
9/20/2004
|
2 - 39
|
OG
|
College Station, TX
|
581
|
2,236
|
173
|
|
—
|
42
|
44
|
|
581
|
2,278
|
217
|
3,076
|
1,454
|
2005
|
1/24/2005
|
2 - 40
|
OG
|
Tupelo, MS
|
823
|
2,102
|
193
|
|
—
|
127
|
82
|
|
823
|
2,229
|
275
|
3,327
|
1,445
|
2005
|
1/31/2005
|
2 - 40
|
OG
|
Jackson, TN
|
874
|
1,964
|
151
|
|
—
|
175
|
36
|
|
874
|
2,139
|
187
|
3,200
|
1,310
|
2005
|
2/7/2005
|
2 - 40
|
OG
|
Houma, LA
|
736
|
2,190
|
150
|
|
—
|
185
|
148
|
|
736
|
2,375
|
298
|
3,409
|
1,516
|
2005
|
2/14/2005
|
2 - 40
|
OG
|
Oklahoma City, OK
|
925
|
2,053
|
158
|
|
—
|
128
|
43
|
|
925
|
2,181
|
201
|
3,307
|
1,369
|
2005
|
3/14/2005
|
2 - 40
|
OG
|
Columbia, SC
|
1,119
|
2,175
|
161
|
|
—
|
110
|
85
|
|
1,119
|
2,285
|
246
|
3,650
|
1,411
|
2005
|
4/5/2005
|
2 - 40
|
OG
|
Newnan, GA
|
829
|
2,239
|
157
|
|
—
|
152
|
55
|
|
829
|
2,391
|
212
|
3,432
|
1,429
|
2005
|
5/23/2005
|
2 - 40
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
OG
|
Owensboro, KY
|
762
|
2,134
|
173
|
|
—
|
70
|
57
|
|
762
|
2,204
|
230
|
3,196
|
1,435
|
2005
|
5/23/2005
|
2 - 40
|
OG
|
San Antonio, TX
|
932
|
2,582
|
191
|
|
—
|
190
|
103
|
|
932
|
2,772
|
294
|
3,998
|
1,655
|
2005
|
6/27/2005
|
2 - 40
|
OG
|
Mesa, AZ
|
598
|
1,844
|
132
|
|
—
|
110
|
129
|
|
598
|
1,954
|
261
|
2,813
|
1,229
|
2005
|
10/3/2005
|
2 - 40
|
OG
|
Garland, TX
|
903
|
2,271
|
156
|
|
—
|
115
|
94
|
|
903
|
2,386
|
250
|
3,539
|
1,486
|
2005
|
10/31/2005
|
2 - 40
|
OG
|
Southaven, MS
|
1,048
|
2,209
|
158
|
|
—
|
117
|
50
|
|
1,048
|
2,326
|
208
|
3,582
|
1,347
|
2005
|
11/21/2005
|
2 - 40
|
OG
|
Yuma, AZ
|
842
|
2,037
|
160
|
|
—
|
62
|
87
|
|
842
|
2,099
|
247
|
3,188
|
1,245
|
2005
|
12/5/2005
|
2 - 40
|
OG
|
Oakdale, MN
|
956
|
2,355
|
185
|
|
—
|
30
|
35
|
|
956
|
2,385
|
220
|
3,561
|
1,408
|
2005
|
12/5/2005
|
2 - 40
|
OG
|
Tarentum, PA
|
1,119
|
2,482
|
148
|
|
—
|
179
|
47
|
|
1,119
|
2,661
|
195
|
3,975
|
1,455
|
2006
|
2/20/2006
|
2 - 41
|
OG
|
Texarkana, TX
|
871
|
2,279
|
151
|
|
—
|
90
|
87
|
|
871
|
2,369
|
238
|
3,478
|
1,414
|
2006
|
3/27/2006
|
2 - 41
|
OG
|
Florence, SC
|
—
|
1,817
|
169
|
|
1,503
|
119
|
84
|
|
1,503
|
1,936
|
253
|
3,692
|
1,191
|
2006
|
8/21/2006
|
2 - 41
|
OG
|
Dothan, AL
|
850
|
2,242
|
131
|
|
—
|
62
|
92
|
|
850
|
2,304
|
223
|
3,377
|
1,301
|
2006
|
8/28/2006
|
2 - 41
|
OG
|
San Angelo, TX
|
360
|
2,020
|
157
|
|
—
|
74
|
104
|
|
360
|
2,094
|
261
|
2,715
|
1,277
|
2006
|
9/11/2006
|
2 - 41
|
OG
|
New Braunfels, TX
|
1,049
|
2,162
|
147
|
|
—
|
32
|
83
|
|
1,049
|
2,194
|
230
|
3,473
|
1,244
|
2006
|
9/25/2006
|
2 - 41
|
OG
|
Grove City, OH
|
1,200
|
2,271
|
140
|
|
—
|
63
|
55
|
|
1,200
|
2,334
|
195
|
3,729
|
1,299
|
2006
|
9/25/2006
|
2 - 41
|
OG
|
Hot Springs, AR
|
797
|
2,415
|
186
|
|
—
|
84
|
73
|
|
797
|
2,499
|
259
|
3,555
|
1,361
|
2006
|
10/23/2006
|
2 - 41
|
OG
|
West Wichita, KS
|
1,227
|
1,801
|
154
|
|
—
|
84
|
86
|
|
1,227
|
1,885
|
240
|
3,352
|
1,056
|
2006
|
11/6/2006
|
2 - 41
|
OG
|
Opelika, AL
|
878
|
2,255
|
154
|
|
—
|
54
|
43
|
|
878
|
2,309
|
197
|
3,384
|
1,273
|
2006
|
11/13/2006
|
2 - 41
|
OG
|
Sioux City, IA
|
1,304
|
2,114
|
137
|
|
—
|
89
|
99
|
|
1,304
|
2,203
|
236
|
3,743
|
1,247
|
2006
|
12/11/2006
|
2 - 41
|
OG
|
Victoria, TX
|
782
|
2,327
|
240
|
|
—
|
39
|
30
|
|
782
|
2,366
|
270
|
3,418
|
1,388
|
2007
|
1/15/2007
|
2 - 42
|
OG
|
Pueblo, CO
|
770
|
2,330
|
212
|
|
—
|
51
|
76
|
|
770
|
2,381
|
288
|
3,439
|
1,385
|
2007
|
2/5/2007
|
2 - 42
|
OG
|
Phoenix, AZ
|
753
|
2,153
|
246
|
|
—
|
97
|
72
|
|
753
|
2,250
|
318
|
3,321
|
1,336
|
2007
|
4/23/2007
|
2 - 42
|
OG
|
Detroit, MI
|
1,400
|
2,956
|
234
|
|
—
|
81
|
87
|
|
1,400
|
3,037
|
321
|
4,758
|
1,555
|
2007
|
5/21/2007
|
2 - 42
|
OG
|
Mount Juliet, TN
|
873
|
2,294
|
212
|
|
—
|
76
|
47
|
|
873
|
2,370
|
259
|
3,502
|
1,312
|
2007
|
10/22/2007
|
2 - 42
|
OG
|
Jacksonville, NC
|
1,174
|
2,287
|
239
|
|
—
|
32
|
81
|
|
1,174
|
2,319
|
320
|
3,813
|
1,338
|
2007
|
11/19/2007
|
2 - 42
|
OG
|
Columbus, OH
|
995
|
2,286
|
184
|
|
—
|
61
|
27
|
|
995
|
2,347
|
211
|
3,553
|
1,216
|
2007
|
12/17/2007
|
2 - 42
|
OG
|
Triadelphia, WV
|
970
|
2,342
|
225
|
|
—
|
58
|
76
|
|
970
|
2,400
|
301
|
3,671
|
1,347
|
2007
|
12/17/2007
|
2 - 42
|
OG
|
Reynoldsburg, OH
|
1,208
|
2,183
|
242
|
|
—
|
48
|
37
|
|
1,208
|
2,231
|
279
|
3,718
|
1,218
|
2008
|
4/21/2008
|
2 - 43
|
OG
|
Cincinnati, OH
|
1,072
|
2,170
|
236
|
|
—
|
57
|
43
|
|
1,072
|
2,227
|
279
|
3,578
|
1,243
|
2008
|
4/28/2008
|
2 - 43
|
OG
|
Florence, KY
|
1,007
|
2,099
|
155
|
|
—
|
52
|
88
|
|
1,007
|
2,151
|
243
|
3,401
|
1,191
|
2008
|
8/4/2008
|
2 - 43
|
OG
|
Bismarck, ND
|
1,156
|
2,319
|
263
|
|
—
|
31
|
38
|
|
1,156
|
2,350
|
301
|
3,807
|
1,257
|
2008
|
11/24/2008
|
2 - 43
|
OG
|
Spring Hill, TN
|
1,295
|
2,269
|
228
|
|
—
|
29
|
45
|
|
1,295
|
2,298
|
273
|
3,866
|
1,143
|
2009
|
2/16/2009
|
2 - 44
|
OG
|
San Antonio, TX
|
1,359
|
2,492
|
230
|
|
—
|
23
|
33
|
|
1,359
|
2,515
|
263
|
4,137
|
1,189
|
2009
|
3/30/2009
|
2 - 44
|
OG
|
Broken Arrow, OK
|
1,461
|
2,261
|
231
|
|
—
|
73
|
57
|
|
1,461
|
2,334
|
288
|
4,083
|
1,138
|
2009
|
5/25/2009
|
2 - 44
|
OG
|
Michigan City, IN
|
762
|
2,646
|
238
|
|
—
|
17
|
39
|
|
762
|
2,663
|
277
|
3,702
|
1,261
|
2009
|
7/13/2009
|
2 - 44
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
OG
|
Bossier City, LA
|
1,006
|
2,405
|
264
|
|
—
|
51
|
32
|
|
1,006
|
2,456
|
296
|
3,758
|
1,167
|
2009
|
7/27/2009
|
2 - 44
|
OG
|
Richmond, KY
|
1,054
|
1,974
|
236
|
|
—
|
14
|
32
|
|
1,054
|
1,988
|
268
|
3,310
|
990
|
2009
|
9/14/2009
|
2 - 44
|
OG
|
Jacksonville, FL
|
1,006
|
2,001
|
263
|
|
—
|
21
|
30
|
|
1,006
|
2,022
|
293
|
3,321
|
1,010
|
2009
|
10/5/2009
|
2 - 44
|
OG
|
Manhattan, KS
|
791
|
2,253
|
237
|
|
—
|
33
|
69
|
|
791
|
2,286
|
306
|
3,383
|
1,082
|
2010
|
4/26/2010
|
2 - 45
|
OG
|
Kingsport, TN
|
1,071
|
1,840
|
282
|
|
—
|
11
|
22
|
|
1,071
|
1,851
|
304
|
3,226
|
872
|
2010
|
5/3/2010
|
2 - 45
|
OG
|
Las Cruces, NM
|
839
|
2,201
|
297
|
|
—
|
15
|
34
|
|
839
|
2,216
|
331
|
3,386
|
1,040
|
2010
|
5/10/2010
|
2 - 45
|
OG
|
Morehead City, NC
|
853
|
1,864
|
315
|
|
—
|
62
|
23
|
|
853
|
1,926
|
338
|
3,117
|
950
|
2010
|
7/19/2010
|
2 - 45
|
OG
|
Pleasant Prairie, WI
|
1,101
|
2,134
|
303
|
|
—
|
36
|
—
|
|
1,101
|
2,170
|
303
|
3,574
|
977
|
2010
|
9/27/2010
|
2 - 45
|
OG
|
Wilson, NC
|
528
|
1,948
|
268
|
|
—
|
24
|
29
|
|
528
|
1,972
|
297
|
2,797
|
929
|
2010
|
10/11/2010
|
2 - 45
|
OG
|
Council Bluffs, IA
|
955
|
2,051
|
254
|
|
—
|
4
|
32
|
|
955
|
2,055
|
286
|
3,296
|
923
|
2010
|
10/25/2010
|
2 - 45
|
OG
|
Louisville, KY
|
—
|
2,072
|
266
|
|
904
|
12
|
38
|
|
904
|
2,084
|
304
|
3,292
|
985
|
2010
|
11/1/2010
|
2 - 45
|
OG
|
Ankeny, IA
|
704
|
2,218
|
248
|
|
—
|
9
|
17
|
|
704
|
2,227
|
265
|
3,196
|
934
|
2011
|
1/10/2011
|
2 - 46
|
OG
|
Queen Creek, AZ
|
875
|
2,377
|
307
|
|
—
|
30
|
(1)
|
|
875
|
2,407
|
306
|
3,588
|
938
|
2011
|
1/10/2011
|
2 - 46
|
OG
|
Gainesville, GA
|
985
|
1,915
|
274
|
|
—
|
—
|
5
|
|
985
|
1,915
|
279
|
3,179
|
802
|
2011
|
6/20/2011
|
2 - 46
|
OG
|
Niagara Falls, NY
|
1,057
|
2,187
|
327
|
|
—
|
38
|
15
|
|
1,057
|
2,225
|
342
|
3,624
|
927
|
2011
|
9/19/2011
|
2 - 46
|
OG
|
Cleveland, TN
|
962
|
1,941
|
324
|
|
—
|
14
|
6
|
|
962
|
1,955
|
330
|
3,247
|
839
|
2011
|
11/28/2011
|
2 - 46
|
OG
|
Chicago, IL
|
942
|
2,626
|
337
|
|
—
|
(484)
|
—
|
|
942
|
2,142
|
337
|
3,421
|
933
|
2012
|
3/26/2012
|
2 - 47
|
OG
|
Katy, TX
|
1,602
|
2,170
|
285
|
|
—
|
—
|
5
|
|
1,602
|
2,170
|
290
|
4,062
|
825
|
2012
|
4/9/2012
|
2 - 47
|
OG
|
Beckley, WV
|
1,013
|
2,105
|
314
|
|
—
|
25
|
1
|
|
1,013
|
2,130
|
315
|
3,458
|
754
|
2012
|
10/1/2012
|
2 - 47
|
OG
|
Columbus, OH
|
954
|
2,236
|
324
|
|
—
|
4
|
—
|
|
954
|
2,240
|
324
|
3,518
|
714
|
2013
|
3/18/2013
|
2 - 48
|
OG
|
Oklahoma City, OK
|
1,204
|
2,370
|
403
|
|
—
|
(221)
|
—
|
|
1,204
|
2,149
|
403
|
3,756
|
761
|
2013
|
4/29/2013
|
2 - 48
|
OG
|
Utica, NY
|
908
|
2,728
|
362
|
|
—
|
(470)
|
—
|
|
908
|
2,258
|
362
|
3,528
|
745
|
2013
|
8/12/2013
|
2 - 48
|
OG
|
Bloomingdale, IL
|
1,601
|
—
|
—
|
|
—
|
—
|
—
|
|
1,601
|
—
|
—
|
1,601
|
—
|
1986
|
1/12/2018
|
—
|
OG
|
El Paso, TX
|
1,833
|
—
|
—
|
|
—
|
—
|
—
|
|
1,833
|
—
|
—
|
1,833
|
—
|
1990
|
6/29/2018
|
—
|
OG
|
Manchester, CT
|
1,669
|
—
|
—
|
|
—
|
—
|
—
|
|
1,669
|
—
|
—
|
1,669
|
—
|
1993
|
7/27/2018
|
—
|
OG
|
Tracy, CA
|
1,313
|
—
|
—
|
|
—
|
—
|
—
|
|
1,313
|
—
|
—
|
1,313
|
—
|
2003
|
11/20/2018
|
—
|
OG
|
Grand Junction, CO
|
1,480
|
—
|
—
|
|
—
|
—
|
—
|
|
1,480
|
—
|
—
|
1,480
|
—
|
2002
|
1/18/2019
|
—
|
OG
|
Logan, UT
|
1,505
|
—
|
—
|
|
—
|
—
|
—
|
|
1,505
|
—
|
—
|
1,505
|
—
|
2003
|
5/1/2019
|
—
|
OG
|
Watertown, NY
|
1,722
|
—
|
—
|
|
—
|
—
|
—
|
|
1,722
|
—
|
—
|
1,722
|
—
|
2010
|
12/6/2019
|
—
|
OG
|
Coralville, IA
|
1,811
|
—
|
—
|
|
—
|
—
|
—
|
|
1,811
|
—
|
—
|
1,811
|
—
|
2001
|
12/26/2019
|
—
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
OS
|
Grand Junction, CO
|
947
|
—
|
—
|
|
—
|
—
|
—
|
|
947
|
—
|
—
|
947
|
—
|
1999
|
1/18/2019
|
—
|
OS
|
Sante Fe, NM
|
1,074
|
2,914
|
—
|
|
—
|
—
|
—
|
|
1,074
|
2,914
|
—
|
3,988
|
53
|
2018
|
1/23/2019
|
14 - 54
|
OS
|
Mentor, OH
|
1,576
|
—
|
—
|
|
—
|
—
|
—
|
|
1,576
|
—
|
—
|
1,576
|
—
|
2018
|
9/27/2019
|
—
|
OS
|
Camp Hill, PA
|
1,288
|
—
|
—
|
|
—
|
—
|
—
|
|
1,288
|
—
|
—
|
1,288
|
—
|
2020
|
12/30/2019
|
—
|
OSG/SS/JJ
|
San Antonio, TX
|
6,941
|
4,049
|
—
|
|
—
|
—
|
—
|
|
6,941
|
4,049
|
—
|
10,990
|
—
|
1970
|
12/24/2019
|
14 - 54
|
PB
|
Beavercreek, OH
|
851
|
—
|
—
|
|
—
|
—
|
—
|
|
851
|
—
|
—
|
851
|
—
|
2000
|
6/29/2018
|
—
|
PB
|
Carpentersville, IL
|
326
|
514
|
—
|
|
—
|
—
|
—
|
|
326
|
514
|
—
|
840
|
28
|
1992
|
11/20/2018
|
5 - 30
|
PB
|
Carbondale, IL
|
534
|
1,633
|
—
|
|
—
|
—
|
—
|
|
534
|
1,633
|
—
|
2,167
|
31
|
2004
|
5/31/2019
|
10 - 40
|
PE
|
Cedar Rapids, IA
|
1,252
|
—
|
—
|
|
—
|
—
|
—
|
|
1,252
|
—
|
—
|
1,252
|
—
|
2016
|
1/12/2018
|
—
|
PH
|
Joliet, IL
|
173
|
890
|
—
|
|
—
|
—
|
—
|
|
173
|
890
|
—
|
1,063
|
75
|
1970
|
7/18/2016
|
5 - 45
|
PH
|
Morris, IL
|
248
|
533
|
—
|
|
—
|
—
|
—
|
|
248
|
533
|
—
|
781
|
72
|
1972
|
7/18/2016
|
5 - 40
|
PH
|
Yorkville, IL
|
200
|
581
|
—
|
|
—
|
—
|
—
|
|
200
|
581
|
—
|
781
|
72
|
1976
|
7/18/2016
|
5 - 40
|
PH
|
Lowell, IN
|
258
|
611
|
—
|
|
—
|
—
|
—
|
|
258
|
611
|
—
|
869
|
80
|
1978
|
7/18/2016
|
5 - 40
|
PH
|
Schereville, IN
|
243
|
942
|
—
|
|
—
|
—
|
—
|
|
243
|
942
|
—
|
1,185
|
100
|
1975
|
7/18/2016
|
5 - 40
|
PH
|
Portage, IN
|
330
|
1,016
|
—
|
|
—
|
—
|
—
|
|
330
|
1,016
|
—
|
1,346
|
117
|
2002
|
7/18/2016
|
5 - 40
|
PLK
|
Kingsport, TN
|
496
|
1,221
|
—
|
|
—
|
—
|
—
|
|
496
|
1,221
|
—
|
1,717
|
51
|
2013
|
4/30/2018
|
11 - 51
|
PLK
|
Morristown, TN
|
552
|
1,167
|
—
|
|
—
|
—
|
—
|
|
552
|
1,167
|
—
|
1,719
|
53
|
2014
|
6/15/2018
|
11 - 51
|
PLK/USC/GC
|
Moline, IL
|
1,298
|
1,396
|
—
|
|
—
|
—
|
—
|
|
1,298
|
1,396
|
—
|
2,694
|
3
|
2017
|
12/10/2019
|
14 - 54
|
PNCB
|
Beavercreek, OH
|
1,537
|
—
|
—
|
|
—
|
—
|
—
|
|
1,537
|
—
|
—
|
1,537
|
—
|
1994
|
10/18/2019
|
—
|
PNCB
|
Muskegon, MI
|
1,373
|
—
|
—
|
|
—
|
—
|
—
|
|
1,373
|
—
|
—
|
1,373
|
—
|
1970
|
12/5/2019
|
—
|
PTO
|
Ft. Wayne, IN
|
3,829
|
—
|
—
|
|
—
|
—
|
—
|
|
3,829
|
—
|
—
|
3,829
|
—
|
2019
|
12/24/2019
|
—
|
RDI
|
Greenwood, IN
|
653
|
—
|
—
|
|
—
|
—
|
—
|
|
653
|
—
|
—
|
653
|
—
|
1989
|
10/31/2018
|
—
|
RL
|
Canton, GA
|
761
|
2,323
|
—
|
|
—
|
—
|
—
|
|
761
|
2,323
|
—
|
3,084
|
130
|
1999
|
11/2/2017
|
10 - 50
|
RL
|
Grandville, MI
|
1,119
|
2,462
|
—
|
|
—
|
—
|
—
|
|
1,119
|
2,462
|
—
|
3,581
|
154
|
2001
|
11/2/2017
|
10 - 50
|
RL
|
Cincinnati, OH
|
1,394
|
2,348
|
—
|
|
—
|
—
|
—
|
|
1,394
|
2,348
|
—
|
3,742
|
151
|
1975
|
11/2/2017
|
10 - 45
|
RL
|
Toledo, OH
|
1,355
|
2,514
|
—
|
|
—
|
—
|
—
|
|
1,355
|
2,514
|
—
|
3,869
|
159
|
1974
|
11/2/2017
|
10 - 45
|
RL
|
Erie, PA
|
978
|
2,948
|
—
|
|
—
|
—
|
—
|
|
978
|
2,948
|
—
|
3,926
|
180
|
1987
|
11/2/2017
|
10 - 45
|
RL
|
Cedar Rapids, IA
|
654
|
—
|
—
|
|
—
|
—
|
—
|
|
654
|
—
|
—
|
654
|
—
|
1997
|
1/12/2018
|
—
|
RL
|
Uniontown, PA
|
1,682
|
—
|
—
|
|
—
|
—
|
—
|
|
1,682
|
—
|
—
|
1,682
|
—
|
1992
|
5/29/2018
|
—
|
RL
|
Louisville, KY
|
1,188
|
2,087
|
—
|
|
—
|
—
|
—
|
|
1,188
|
2,087
|
—
|
3,275
|
67
|
1991
|
12/17/2018
|
5 - 40
|
RL
|
Grand Forks, ND
|
1,357
|
2,435
|
—
|
|
—
|
—
|
—
|
|
1,357
|
2,435
|
—
|
3,792
|
74
|
1992
|
12/17/2018
|
10 - 45
|
RL
|
Talleyville, DE
|
1,222
|
3,402
|
—
|
|
—
|
—
|
—
|
|
1,222
|
3,402
|
—
|
4,624
|
94
|
1991
|
12/17/2018
|
10 - 45
|
RL
|
Southaven, MS
|
1,967
|
2,521
|
—
|
|
—
|
—
|
—
|
|
1,967
|
2,521
|
—
|
4,488
|
75
|
2005
|
12/17/2018
|
10 - 50
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
RL
|
St. Cloud, MN
|
1,490
|
3,665
|
—
|
|
—
|
—
|
—
|
|
1,490
|
3,665
|
—
|
5,155
|
95
|
1990
|
12/17/2018
|
10 - 45
|
RL
|
Columbus, IN
|
1,220
|
1,575
|
—
|
|
—
|
—
|
—
|
|
1,220
|
1,575
|
—
|
2,795
|
55
|
1991
|
12/17/2018
|
5 -40
|
RL
|
Grand Junction, CO
|
751
|
—
|
—
|
|
—
|
—
|
—
|
|
751
|
—
|
—
|
751
|
—
|
1993
|
1/18/2019
|
—
|
RL
|
Louisville, KY
|
764
|
1,420
|
—
|
|
—
|
—
|
—
|
|
764
|
1,420
|
—
|
2,184
|
37
|
1991
|
6/6/2019
|
10 - 30
|
RL
|
Grand Forks, ND
|
1,970
|
2,203
|
—
|
|
—
|
—
|
—
|
|
1,970
|
2,203
|
—
|
4,174
|
57
|
1992
|
6/6/2019
|
10 - 30
|
RL
|
Talleyville, DE
|
1,337
|
1,418
|
—
|
|
—
|
—
|
—
|
|
1,337
|
1,418
|
—
|
2,755
|
41
|
1991
|
6/6/2019
|
10 - 30
|
RL
|
Southaven, MS
|
936
|
2,119
|
—
|
|
—
|
—
|
—
|
|
936
|
2,119
|
—
|
3,055
|
34
|
2005
|
6/6/2019
|
5 - 40
|
RL
|
St. Cloud, MN
|
1,813
|
2,675
|
—
|
|
—
|
—
|
—
|
|
1,813
|
2,675
|
—
|
4,488
|
48
|
1990
|
6/6/2019
|
5 - 45
|
RL
|
Sioux City, IA
|
806
|
—
|
—
|
|
—
|
—
|
—
|
|
806
|
—
|
—
|
806
|
—
|
1990
|
6/28/2019
|
—
|
RL
|
Coralville, IA
|
2,078
|
—
|
—
|
|
—
|
—
|
—
|
|
2,078
|
—
|
—
|
2,078
|
—
|
2001
|
12/26/2019
|
—
|
S52
|
Naples, FL
|
2,912
|
3,619
|
447
|
|
—
|
7
|
37
|
|
2,912
|
3,626
|
484
|
7,022
|
1,448
|
2011
|
10/10/2011
|
2 - 46
|
S52
|
Jacksonville, FL
|
2,216
|
2,729
|
416
|
|
—
|
6
|
3
|
|
2,216
|
2,735
|
419
|
5,370
|
1,148
|
2011
|
10/24/2011
|
2 - 46
|
SDI
|
Tracy, CA
|
979
|
—
|
—
|
|
—
|
—
|
—
|
|
979
|
—
|
—
|
979
|
—
|
2004
|
11/20/2018
|
—
|
SNS
|
Peru, IL
|
560
|
813
|
—
|
|
—
|
—
|
—
|
|
560
|
813
|
—
|
1,373
|
108
|
1996
|
11/9/2016
|
5 - 40
|
SNS
|
Vero Beach, FL
|
435
|
930
|
—
|
|
—
|
—
|
—
|
|
435
|
930
|
—
|
1,365
|
105
|
1998
|
11/9/2016
|
10 - 40
|
SNS
|
Indianapolis, IN
|
571
|
1,050
|
—
|
|
—
|
—
|
—
|
|
571
|
1,050
|
—
|
1,621
|
105
|
1989
|
1/12/2017
|
10 -40
|
SNS
|
Carmel, IN
|
887
|
—
|
—
|
|
—
|
—
|
—
|
|
887
|
—
|
—
|
887
|
—
|
1992
|
12/30/2019
|
—
|
STB
|
Beavercreek, OH
|
582
|
710
|
—
|
|
—
|
—
|
—
|
|
582
|
710
|
—
|
1,292
|
50
|
2014
|
1/12/2018
|
11 - 51
|
STB
|
Orland Park (Chicago), IL
|
954
|
847
|
—
|
|
—
|
—
|
—
|
|
954
|
847
|
—
|
1,801
|
55
|
1993
|
6/29/2018
|
5 - 30
|
STB
|
Hagerstown, MD
|
755
|
1,620
|
—
|
|
—
|
—
|
—
|
|
755
|
1,620
|
—
|
2,375
|
55
|
2014
|
10/11/2018
|
11 - 51
|
STB
|
Decatur, AL
|
473
|
627
|
—
|
|
—
|
—
|
—
|
|
473
|
627
|
—
|
1,100
|
18
|
2007
|
10/30/2018
|
25 - 45
|
STB/VZW/ATI
|
Huntington, IN
|
1,927
|
1,158
|
—
|
|
—
|
—
|
—
|
|
1,927
|
1,158
|
—
|
3,085
|
2
|
2019
|
11/28/2019
|
14 - 54
|
TB
|
Newburgh, IN
|
139
|
1,069
|
—
|
|
—
|
—
|
—
|
|
139
|
1,069
|
—
|
1,208
|
80
|
1994
|
11/15/2016
|
14 - 53
|
TB
|
Anniston, AL
|
200
|
611
|
—
|
|
—
|
—
|
—
|
|
200
|
611
|
—
|
811
|
57
|
2000
|
1/12/2017
|
8 - 48
|
TB
|
Columbia, SC
|
1,161
|
1,086
|
—
|
|
—
|
—
|
—
|
|
1,161
|
1,086
|
—
|
2,247
|
110
|
2009
|
1/13/2017
|
12 - 50
|
TB
|
Gas City, IN
|
503
|
951
|
—
|
|
—
|
—
|
—
|
|
503
|
951
|
—
|
1,454
|
83
|
1999
|
7/26/2017
|
5 - 40
|
TB
|
Logansport, IN
|
447
|
1,261
|
—
|
|
—
|
—
|
—
|
|
447
|
1,261
|
—
|
1,708
|
82
|
1990
|
7/26/2017
|
10 - 50
|
TB
|
Manchester, CT
|
1,393
|
—
|
—
|
|
—
|
—
|
—
|
|
1,393
|
—
|
—
|
1,393
|
—
|
2013
|
7/27/2018
|
—
|
TB
|
Greenwood, IN
|
540
|
—
|
—
|
|
—
|
—
|
—
|
|
540
|
—
|
—
|
540
|
—
|
2007
|
10/31/2018
|
—
|
TB
|
Grand Junction, CO
|
886
|
—
|
—
|
|
—
|
—
|
—
|
|
886
|
—
|
—
|
886
|
—
|
1996
|
1/18/2019
|
—
|
TB
|
Clovis. NM
|
307
|
—
|
—
|
|
—
|
—
|
—
|
|
307
|
—
|
—
|
307
|
—
|
1995
|
11/21/2019
|
—
|
TB
|
Southaven, MS
|
935
|
—
|
—
|
|
—
|
—
|
—
|
|
935
|
—
|
—
|
935
|
—
|
2006
|
12/20/2019
|
—
|
TR
|
Fort Gratiot, MI
|
1,248
|
—
|
—
|
|
—
|
—
|
—
|
|
1,248
|
—
|
—
|
1,248
|
—
|
2007
|
11/20/2018
|
—
|
FOUR CORNERS PROPERTY TRUST, INC.
SCHEDULE III
SCHEDULE OF REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION
DECEMBER 31, 2019
(Dollars in thousands)
|
|||||||||||||||||
|
|
Initial Cost to Company
|
|
Cost Capitalized Since Acquisition
|
|
Gross Carrying Value (2)
|
Accumulated Depreciation
|
Construction Date
|
Acquisition Date
|
Life on which Depreciation in latest Statement of Income is Computed
|
|||||||
Restaurant Property (1)
|
Location
|
Land
|
Buildings and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
|
Land
|
Building and Improvements
|
Equipment
|
Total
|
||||
TR
|
Sierra Vista, AZ
|
1,305
|
—
|
—
|
|
—
|
—
|
—
|
|
1,305
|
—
|
—
|
1,305
|
—
|
2007
|
11/20/2018
|
—
|
TR
|
Logan, UT
|
1,272
|
—
|
—
|
|
—
|
—
|
—
|
|
1,272
|
—
|
—
|
1,272
|
—
|
2009
|
5/1/2019
|
—
|
TR
|
La Crosse, WI
|
1,352
|
—
|
—
|
|
—
|
—
|
—
|
|
1,352
|
—
|
—
|
1,352
|
—
|
2012
|
7/25/2019
|
—
|
TR
|
Florence, SC
|
1,860
|
—
|
—
|
|
—
|
—
|
—
|
|
1,860
|
—
|
—
|
1,860
|
—
|
2019
|
12/30/2019
|
—
|
WC
|
Carmel, IN
|
625
|
—
|
—
|
|
—
|
—
|
—
|
|
625
|
—
|
—
|
625
|
—
|
1992
|
12/30/2019
|
—
|
WEN
|
Odessa, TX
|
822
|
1,327
|
—
|
|
—
|
—
|
—
|
|
822
|
1,327
|
—
|
2,149
|
147
|
1995
|
8/2/2016
|
10 - 45
|
WEN
|
Wheat Ridge, CO
|
453
|
467
|
—
|
|
—
|
—
|
—
|
|
453
|
467
|
—
|
920
|
69
|
1978
|
11/9/2016
|
5 - 40
|
WEN
|
Warren, MI
|
323
|
946
|
—
|
|
—
|
—
|
—
|
|
323
|
946
|
—
|
1,269
|
98
|
2003
|
11/9/2016
|
10 - 40
|
WEN
|
Grand Junction, CO
|
1,113
|
—
|
—
|
|
—
|
—
|
—
|
|
1,113
|
—
|
—
|
1,113
|
—
|
1994
|
1/18/2019
|
—
|
WEN
|
Clayton, OH
|
814
|
1,097
|
—
|
|
—
|
—
|
—
|
|
814
|
1,097
|
—
|
1,911
|
23
|
2004
|
6/26/2019
|
5 - 40
|
WEN
|
Warwick, RI
|
1,343
|
—
|
—
|
|
—
|
—
|
—
|
|
1,343
|
—
|
—
|
1,343
|
—
|
1999
|
12/24/2019
|
—
|
WFG
|
San Antonio, TX
|
—
|
—
|
8
|
|
2,790
|
2,069
|
69
|
|
2,790
|
2,069
|
77
|
4,936
|
523
|
2008
|
11/14/2011
|
2 - 43
|
ZAX
|
Snellville, GA
|
859
|
1,168
|
—
|
|
—
|
—
|
—
|
|
859
|
1,168
|
—
|
2,027
|
110
|
2003
|
11/9/2016
|
10 - 45
|
|
|
$665,130
|
$897,588
|
$48,022
|
|
$25,444
|
$244,687
|
$86,862
|
|
$690,575
|
$1,142,275
|
$134,884
|
$1,967,734
|
$635,630
|
|
|
|
|
December 31, 2019
|
December 31, 2018
|
||||
Carrying Costs
|
|
|
||||
Balance - beginning of period
|
$
|
1,805,281
|
|
$
|
1,564,955
|
|
Additions placed in service
|
164,499
|
|
253,035
|
|
||
Dispositions
|
(2,046
|
)
|
(12,709
|
)
|
||
Balance - end of year
|
$
|
1,967,734
|
|
$
|
1,805,281
|
|
Accumulated Depreciation
|
|
|
||||
Balance - beginning of year
|
$
|
(614,584
|
)
|
$
|
(598,846
|
)
|
Depreciation expense
|
(23,092
|
)
|
(21,256
|
)
|
||
Dispositions
|
2,046
|
|
5,518
|
|
||
Balance - end of year
|
$
|
(635,630
|
)
|
$
|
(614,584
|
)
|
Exhibit Number
|
|
Description
|
3.1
|
|
|
3.2
|
|
|
4.1
|
|
|
4.2*
|
|
|
10.1
|
|
|
10.2
|
|
|
10.3
|
|
|
10.4
|
|
|
10.5
|
|
|
10.6
|
|
|
10.7
|
|
|
10.8
|
|
|
10.9
|
|
|
10.10
|
|
|
10.11
|
|
10.12
|
|
|
10.13
|
|
|
10.14
|
|
|
10.15
|
|
|
10.16
|
|
|
10.17
|
|
|
10.18
|
|
|
10.19
|
|
|
10.20
|
|
|
10.21
|
|
|
10.22
|
|
|
10.23
|
|
|
10.24*
|
|
|
10.25*
|
|
|
10.26*
|
|
|
10.27*
|
|
|
21.1*
|
|
|
23.1*
|
|
|
31 (a)*
|
|
|
31 (b)*
|
|
|
32 (a)*
|
|
|
32 (b)*
|
|
|
99.1
|
|
|
101.INS*
|
|
XBRL Instance Document
|
101.SCH*
|
|
XBRL Taxonomy Extension Schema Document
|
101.CAL*
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
101.DEF*
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
101.LAB*
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
101.PRE*
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
104
|
|
Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
|
|
|
|
|
|
|
|
|
|
|
FOUR CORNERS PROPERTY TRUST, INC.
|
|
|
|
|
|
|
|
|
|
Dated:
|
February 26, 2020
|
By:
|
/s/ William H. Lenehan
|
|
|
|
President and Chief Executive Officer
|
|
|
|
|
Signature
|
Title
|
Date
|
|
|
|
/S/ WILLIAM H. LENEHAN
William H. Lenehan
|
Director and Chief Executive Officer
(Principal Executive Officer)
|
February 26, 2020
|
|
|
|
/S/ GERALD R. MORGAN
Gerald R. Morgan
|
Chief Financial Officer
(Principal Financial Officer)
|
February 26, 2020
|
|
|
|
/S/ NICCOLE M. STEWART
Niccole M. Stewart |
Chief Accounting Officer
(Principal Accounting Officer) |
February 26, 2020
|
|
|
|
/S/ JOHN S. MOODY
John S. Moody
|
Director and Chairman of the
Board of Directors
|
February 26, 2020
|
|
|
|
/S/ DOUGLAS B. HANSEN
Douglas B. Hansen
|
Director
|
February 26, 2020
|
|
|
|
/S/ ERIC HIRSCHHORN
Eric Hirschhorn |
Director
|
February 26, 2020
|
|
|
|
/S/ CHARLES L. JEMLEY
Charles L. Jemley |
Director
|
February 26, 2020
|
|
|
|
/S/ MARRAN H. OGILVIE
Marran H. Ogilvie
|
Director
|
February 26, 2020
|
|
|
|
/S/ PAUL E. SZUREK
Paul E. Szurek
|
Director
|
February 26, 2020
|
|
||
|
|
|
|
|
|
Name of Subsidiary
|
|
Jurisdiction of Incorporation/Formation
|
|
|
|
Four Corners GP, LLC
|
|
Delaware
|
FCPT TRS, LLC
|
|
Delaware
|
FCPT OP Holdings, LP
|
|
Delaware
|
Four Corners Operating Partnership, LP
|
|
Delaware
|
Kerrow Holdings, LLC
|
|
Texas
|
Kerrow Restaurants, LLC
|
|
Texas
|
FCPT Garden Properties, LLC
|
|
Delaware
|
FCPT Hospitality Properties, LLC
|
|
Delaware
|
FCPT International Drive, LLC
|
|
Delaware
|
FCPT Keystone Properties 11, LLC
|
|
Delaware
|
FCPT Keystone Properties, LLC
|
|
Delaware
|
FCPT PA Hospitality Properties 11, LLC
|
|
Delaware
|
FCPT PA Hospitality Properties, LLC
|
|
Delaware
|
FCPT Remington Properties, LLC
|
|
Texas
|
FCPT Restaurant Properties, LLC
|
|
Texas
|
FCPT Sunshine Properties, LLC
|
|
Delaware
|
FCPT SW Properties, LLC
|
|
Delaware
|
FCPT Acquisitions, LLC
|
|
Delaware
|
FCPT Holdings, LLC
|
|
Delaware
|
1.
|
I have reviewed this annual report on Form 10-K of Four Corners Property Trust, Inc.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a.
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b.
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c.
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d.
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a.
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b.
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date:
|
February 26, 2020
|
|
|
|
/s/ William H. Lenehan
|
|
|
|
President and Chief Executive Officer
|
1.
|
I have reviewed this annual report on Form 10-K of Four Corners Property Trust, Inc.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
a.
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b.
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c.
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d.
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
a.
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b.
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date:
|
February 26, 2020
|
|
|
|
/s/ Gerald R. Morgan
|
|
|
|
Chief Financial Officer
|
1.
|
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
|
2.
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
Date:
|
February 26, 2020
|
|
|
|
/s/ William H. Lenehan
|
|
|
|
President and Chief Executive Officer
|
1.
|
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
|
2.
|
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
|
Date:
|
February 26, 2020
|
|
|
|
/s/ Gerald R. Morgan
|
|
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|
Chief Financial Officer
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