FCPT Announces Acquisition of a MercyOne Outpatient Clinic Property for $3.0 Million
07 Junho 2024 - 5:16PM
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 MercyOne outpatient clinic property for $3.0 million. As part
of the larger Trinity Health network, MercyOne is a non-profit
healthcare system which operates more than 420 hospitals, clinics,
and other healthcare facilities in Iowa and Nebraska. The property
is located in a strong retail corridor in Iowa and is
corporate-operated under a long term, triple net lease with
approximately six years of term remaining. The transaction was
priced at a 7.2% cap rate on rent as of the closing date and
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.
Category: Acquisition
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Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO
Patrick Wernig, 415-965-8038 CFO
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