FCPT Announces Acquisition of an Aspen Dental Property for $1.9 Million

Rhea-AI Summary

Four Corners Property Trust (FCPT) has acquired an Aspen Dental property for $1.9 million. The property is strategically located in a high-traffic area in Arkansas and operates under a corporate net lease. This acquisition aligns with FCPT's strategy of expanding its portfolio of high-quality, net-leased restaurant and retail properties. The transaction’s cap rate is consistent with previous FCPT acquisitions, indicating stable investment performance.

Positive

• Acquisition of Aspen Dental property for $1.9 million enhances FCPT's portfolio.
• Property located in a high-traffic area, likely increasing lease stability.
• Transaction priced at a cap rate consistent with prior FCPT transactions, indicating stable investment.

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 an Aspen Dental property for $1.9 million. The property is located in a highly trafficked corridor in Arkansas 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/20211014006092/en/

Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Gerry Morgan, 415-965-8032

CFO

Source: Four Corners Property Trust

FAQ

What recent acquisition did FCPT announce?

FCPT announced the acquisition of an Aspen Dental property for $1.9 million.

Where is the Aspen Dental property located?

The property is located in a high-traffic area in Arkansas.

What was the purchase price for the Aspen Dental property by FCPT?

The purchase price for the Aspen Dental property was $1.9 million.

How does this acquisition impact FCPT's investment strategy?

This acquisition is in line with FCPT's strategy to expand its portfolio of high-quality, net-leased restaurant and retail properties.