FCPT Announces Acquisition of a Mercy Health Clinic Property for $3.8 Million
June 06 2024 - 9:46PM
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 Mercy Health Clinic property for $3.8 million. Mercy Health is
one of the largest health systems in the United States and has been
in operation since 1871. The property is located in a strong retail
corridor in Missouri and corporate-operated under a triple net
lease with approximately five years of term remaining. The
transaction was priced at a 7.1% 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
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240606583651/en/
Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO
Patrick Wernig, 415-965-8038 CFO
Four Corners Property (NYSE:FCPT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Four Corners Property (NYSE:FCPT)
Historical Stock Chart
From Jul 2023 to Jul 2024