FCPT Announces Acquisition of a Mercy Health Clinic Property for $3.8 Million By Investing.com

MILL VALLEY, Calif.–(BUSINESS WIRE)–Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (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

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Four Corners Property (NYSE:) Trust:
Bill Lenehan, 415-965-8031
CEO

Patrick Wernig, 415-965-8038
CFO

Source: Four Corners Property Trust