FCPT Announces Acquisition of an Oak Street Health Property for $2.4 Million
Four Corners Property Trust acquires Oak Street Health property for $2.4 million
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Four Corners Property Trust acquires a high-quality, net-leased property for $2.4 million in Arkansas
10/12/2023 - 05:57 PM
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 Oak Street Health property for $2.4 million . The property is located in a highly trafficked corridor in Arkansas and is corporate-operated under a long-term, net lease. The transaction was priced at a cap rate in range with previous FCPT transactions.
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
Source: Four Corners Property Trust
What is the acquisition price of the Oak Street Health property?
The acquisition price of the Oak Street Health property is $2.4 million.
Where is the property located?
The property is located in a highly trafficked corridor in Arkansas.
What type of lease is in place for the property?
The property is corporate-operated under a long-term, net lease.
What is the cap rate for the transaction?
The transaction was priced at a cap rate in range with previous FCPT transactions.
Four Corners Property Trust Inc
FCPT Rankings
#3304 Ranked by Stock Gains
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Other Activities Related to Real Estate
Sector
Real Estate and Rental and Leasing
Tags
Finance, Real Estate Investment Trusts, Real Estate and Rental and Leasing, Other Activities Related to Real Estate
Country
US
City
Mill Valley
About FCPT
four corners property trust (nyse:fcpt) is a $2 billion investment grade rated net lease reit focused on restaurant real estate. fcpt was spun-off from darden restaurants, inc. in november 2015 with 418 properties. today, fcpt owns over 500 properties in 44 states with over 20 brands. at fcpt, our strategy continues to be diversifying and scaling our portfolio through acquisitions and sale-leasebacks of quality credit restaurant operators with strong fundamental real estate. for more information, navigate to the following site: www.fcpt.com