FCPT Announces Acquisition of a MercyOne Outpatient Clinic Property for $2.8 Million
20 December 2024 - 9:08AM
Business Wire
Four Corners Property Trust (NYSE:FCPT), a real estate
investment trust primarily engaged in the ownership and acquisition
of high-quality, net-leased restaurant and retail properties
(“FCPT” or the “Company”), is pleased to announce the acquisition
of a MercyOne outpatient clinic property for $2.8 million. The
property is located in a strong retail corridor in Iowa and is
under a triple net lease with approximately five years of term
remaining. The transaction was priced at a 7.8% cap rate on rent as
of the closing date and exclusive of transaction costs.
About FCPT
FCPT, headquartered in Mill Valley, CA, is a real estate
investment trust primarily engaged in the ownership, acquisition
and leasing of restaurant and retail properties. The Company seeks
to grow its portfolio by acquiring additional real estate to lease,
on a net basis, for use in the restaurant and retail industries.
Additional information about FCPT can be found on the website at
www.fcpt.com.
Category: Acquisition
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Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO
Patrick Wernig, 415-965-8038 CFO
Four Corners Property (NYSE:FCPT)
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