FCPT Announces Acquisition of a Covenant Health Emergency Room for $8.7 Million
21 Julho 2023 - 6:50PM
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 Covenant Health Emergency Room for $8.7 million. Covenant
Health is part of the larger Providence Health & Services
health care system. The property is located in a strong retail
corridor in Texas and is corporate-operated under a net lease with
approximately seven years of term remaining. The transaction was
priced at a 7.0% cap rate on rent as of the closing date, 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.
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Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO
Gerry Morgan, 415-965-8032 CFO
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