FCPT Announces Acquisition of a DaVita Kidney Care Property for $1.1 Million

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a corporate DaVita Kidney Care property for $1.1 million. The property is located in a high traffic corridor in Wisconsin and is occupied under a net lease with approximately four years of term remaining. The transaction was priced at a 6.9% going-in cash capitalization rate, exclusive of transaction costs.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant 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.

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FAQ

What is the acquisition made by FCPT?

FCPT acquired a corporate DaVita Kidney Care property for $1.1 million.

What is the significance of the 6.9% cash capitalization rate for FCPT?

The 6.9% cash capitalization rate indicates a favorable pricing for the property, enhancing return potential.

Where is the newly acquired property located?

The property is located in a high-traffic corridor in Wisconsin.

How long is the lease term for the DaVita property?

The lease has approximately four years remaining on the term.