FCPT Announces Acquisition of an Aspen Dental Property for $2.3 Million

Rhea-AI Summary

Four Corners Property Trust (FCPT) has announced the acquisition of an Aspen Dental property for $2.3 million. This property is located in a busy retail corridor in Missouri and is leased to the corporate entity on a net lease basis. The acquisition was completed at a cap rate consistent with previous FCPT transactions, highlighting the company's strategy to expand its portfolio of high-quality restaurant and retail properties.

Positive

• Acquisition of Aspen Dental property for $2.3 million enhances FCPT's real estate portfolio.
• Property located in a dense retail corridor, indicating potential for strong revenue generation.
• Transaction priced at a cap rate in line with previous FCPT acquisitions, suggesting stable investment quality.

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 $2.3 million. The property is located in a dense retail corridor in Missouri and is occupied under a net lease to the corporate entity. 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/20220525005895/en/

Four Corners Property Trust:

Bill Lenehan, 415-965-8031

CEO

Gerry Morgan, 415-965-8032

CFO

Source: Four Corners Property Trust

FAQ

What property did Four Corners Property Trust acquire?

FCPT acquired an Aspen Dental property located in Missouri for $2.3 million.

What was the price of the Aspen Dental property acquisition by FCPT?

The Aspen Dental property was acquired for $2.3 million.

Where is the Aspen Dental property located?

The Aspen Dental property is located in a dense retail corridor in Missouri.

How does the acquisition impact Four Corners Property Trust's financials?

The acquisition is expected to enhance FCPT's portfolio and provide stable rental income.

What type of lease is associated with the Aspen Dental property?

The property is occupied under a net lease to the corporate entity.