FCPT Announces Acquisition of a BarnesCare Clinic for $1.8 million

Rhea-AI Summary

Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of a BarnesCare occupational medicine clinic in Missouri for $1.8 million. The property is strategically located in a busy area and is corporate-operated under a net lease. The acquisition's pricing was aligned with FCPT's previous transactions, indicating a consistent investment strategy.

Positive

• Acquisition of a high-quality property for $1.8 million.
• Located in a high-traffic area, potentially increasing foot traffic and revenue.
• Corporate-operated under a net lease, ensuring stable cash flow.

Negative

• None.

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 BarnesCare occupational medicine clinic for $1.8 million. The property is located in a highly trafficked corridor in Missouri and is corporate-operated under a net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221121005901/en/

Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Gerry Morgan, 415-965-8032

CFO

Source: Four Corners Property Trust

FAQ

What type of property did FCPT acquire?

FCPT acquired a BarnesCare occupational medicine clinic.

What was the acquisition cost for the BarnesCare clinic?

The acquisition cost was $1.8 million.

Where is the acquired property located?

The property is located in Missouri.

What type of lease is associated with the BarnesCare clinic?

The clinic is operated under a corporate net lease.

What is the significance of the acquisition for FCPT?

The acquisition aligns with FCPT's strategy to expand its portfolio in high-quality, net-leased properties.