1. FCPT acquired an SCA Health property for $3.9 million. 2. The property has an 8.3% cap rate on rent. 3. Located in a busy area of Alabama, enhancing portfolio value. 4. Acquisition aligns with FCPT's strategy of net-leased real estate.
The acquisition of a high-quality property at a favorable cap rate highlights FCPT’s growth strategy, which has historically correlated with price increases. For example, previous acquisitions have positively affected FCPT's stock performance.
The acquisition is critical to expanding FCPT's portfolio, aligning with its long-term growth strategy, which is likely to positively impact investor sentiment and market performance.
This acquisition will contribute to sustainable income growth and portfolio diversification, influencing FCPT's performance positively over time.
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