FCPT Announces Acquisition of an Ethos Veterinary Health Property for $3.7 Million
FCPT Announces Acquisition of an Ethos Veterinary Health Property for $3.7 Million
Four Corners Property Trust (NYSE:FCPT), a real estate investment trust focused on restaurant and retail properties, has acquired an Ethos Veterinary Health property in New York for $3.7 million.
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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 an Ethos Veterinary Health property for $3.7 million. Ethos Veterinary Health is a network of over 140 specialty and emergency veterinary hospitals across North America. The property is located in a strong retail corridor in New York and is corporate-operated under a triple net lease with approximately five years of term remaining. The transaction was priced at a 7.5% 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.
