FCPT Announces Acquisition of an Oak Street Health Property for $2.4 Million

Rhea-AI Summary

Four Corners Property Trust acquires Oak Street Health property for $2.4 million

Positive

• Four Corners Property Trust acquires a high-quality, net-leased property for $2.4 million in Arkansas

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 Oak Street Health property for $2.4 million. The property is located in a highly trafficked corridor in Arkansas and is corporate-operated under a long-term, 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/20231012019175/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 price of the Oak Street Health property?

The acquisition price of the Oak Street Health property is $2.4 million.

Where is the property located?

The property is located in a highly trafficked corridor in Arkansas.

What type of lease is in place for the property?

The property is corporate-operated under a long-term, net lease.

What is the cap rate for the transaction?

The transaction was priced at a cap rate in range with previous FCPT transactions.