FCPT Announces Acquisition of a Midwest Orthopedic Network property for $4.3 million
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 a Midwest Orthopedic Network property for $4.3 million. The property is in a strong medical corridor in Wisconsin and is corporate-operated under a net lease with approximately four years of term remaining and annual rent increases of 2.5%. The transaction was priced at a 8.1% cap rate 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
KEYWORDS: California Wisconsin United States North America
INDUSTRY KEYWORDS: REIT Hospitals Health Commercial Building & Real Estate Construction & Property
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