FCPT Announces Acquisition of a Fresenius Property for $2.7 Million

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 Fresenius property for $2.7 million.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Monday, March 21, 2022
Information
Tags: 
REIT, Restaurant, Bar, Retail, Commercial Building & Real Estate, Construction & Property, NYSE, Company, Ownership, Acquisition, CA, Commercial property
Geotags: 
UNITED STATES, NORTH AMERICA, CALIFORNIA, FRESENIUS, MICHIGAN
⚠ generated by AI ↴
Organisation: 
FCPT
Stock Symbol: 
NYSE:FCPT
Summary
Key Points: 
  • 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 Fresenius property for $2.7 million.
  • The property is located in a strong medical corridor in Michigan and is corporate operated under a net lease with approximately six years of term remaining.
  • 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.
  • Additional information about FCPT can be found on the website at www.fcpt.com .


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 Fresenius property for $2.7 million. The property is located in a strong medical corridor in Michigan and is corporate operated under a net lease with approximately six years of term remaining. The transaction was priced at a capitalization rate of 7.4% on rent today and a run rate capitalization rate of 6.9% based on forward rent, 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.

Copyright: 
Copyright Business Wire 2022