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FCPT Announces Acquisition of a WellNow Urgent Care Property for $2.3 Million

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Rhea-AI Summary

Four Corners Property Trust (NYSE:FCPT) has acquired a corporate WellNow Urgent Care property for $2.3 million. This property, situated in a strong retail corridor in New York, is leased under a long-term agreement. The acquisition reflects a capitalization rate in line with previous FCPT transactions, indicating consistency in their investment strategy. FCPT focuses on high-quality, net-leased restaurant properties and aims to expand its portfolio within the restaurant and retail sectors.

Positive
  • Acquisition of WellNow Urgent Care for $2.3 million enhances property portfolio.
  • Long-term net lease secured, ensuring steady income flow.
  • Transaction capitalization rate aligns with previous acquisitions, indicating strategic consistency.
Negative
  • None.

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 WellNow Urgent Care property for $2.3 million. The property is located in a strong retail corridor in New York and is occupied under a long-term net lease. The transaction was priced at a capitalization rate consistent with previous FCPT transactions.

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.

FAQ

What is the recent acquisition made by FCPT?

FCPT recently acquired a corporate WellNow Urgent Care property for $2.3 million.

Where is the WellNow Urgent Care property located?

The property is located in a strong retail corridor in New York.

What type of lease is associated with the WellNow property?

The property is occupied under a long-term net lease.

How does this acquisition impact FCPT's portfolio?

This acquisition enhances FCPT's portfolio by adding a net-leased property in the healthcare sector.

What is the capitalization rate for the recent transaction?

The transaction was priced at a capitalization rate consistent with previous FCPT transactions.

Four Corners Property Trust, Inc.

NYSE:FCPT

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2.70B
91.35M
1.32%
101.89%
2.86%
REIT - Retail
Real Estate Investment Trusts
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United States of America
MILL VALLEY