FCPT Announces Acquisition of a Fresenius Medical Care for $3.4 Million

Rhea-AI Summary

Four Corners Property Trust (FCPT) has acquired a Fresenius Medical Care property in North Carolina for $3.4 million. This purchase is secured under a net lease with 5 years remaining on the term and was priced at a 6.2% cash capitalization rate, excluding transaction costs. The acquisition aligns with FCPT's strategy to expand its portfolio of high-quality, net-leased restaurant and retail properties.

Positive

• Acquisition of Fresenius Medical Care property enhances portfolio.
• Transaction priced at a 6.2% going-in cash capitalization rate reflects strong return potential.
• Strategic purchase supports FCPT's growth in the net-lease sector.

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 Fresenius Medical Care property for $3.4 million. The property is located in North Carolina and is corporate-operated under a net lease with 5 years of term remaining. The transaction was priced at a 6.2% 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 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/20220420005969/en/

Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Gerry Morgan, 415-965-8032

CFO

Source: Four Corners Property Trust

FAQ

What is the acquisition made by FCPT?

FCPT acquired a Fresenius Medical Care property for $3.4 million.

Where is the recently acquired property located?

The property is located in North Carolina.

What is the cash capitalization rate for the FCPT acquisition?

The acquisition was priced at a 6.2% going-in cash capitalization rate.

How many years remain on the lease for the newly acquired property?

There are 5 years remaining on the net lease for the property.

What type of properties does FCPT focus on acquiring?

FCPT focuses on high-quality, net-leased restaurant and retail properties.