1. FCPT acquired SCA Health property for $3.9 million. 2. The property is located in a high-traffic corridor in Alabama. 3. Transaction priced at an 8.3% cap rate on rent. 4. SCA Health is a subsidiary of UnitedHealth Group. 5. The property has four years remaining on the lease term.
The acquisition expands FCPT's portfolio and offers a favorable cap rate, indicative of growth. Historical acquisitions that enhanced property value have reflected in positive stock movement.
The acquisition of a property with a recognized tenant enhances stability and could drive future growth in rental income.
The strategic nature of the acquisition may enhance long-term revenue and portfolio quality. Similar acquisitions in REITs often show compounding benefits over years.
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 SCA Health property for $3.9 million. SCA Health, a subsidiary of UnitedHealth Group under its Optum division, operates over 370 clinical locations and 400 physician practice clinics nationwide. It partners with physicians, health systems, and payers to develop and implement surgical care strategies across the U.S. The property is located in a highly trafficked corridor in Alabama and is corporate-operated under a triple net lease with approximately four years of term remaining. The transaction was priced at a 8.3% 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