FCPT Announces Acquisition of Nine American Family Care Properties for $21.2 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 nine American Family Care properties for $21.2 million. American Family Care is an urgent care, family care, and primary care operator with 384 clinics across 33 states, known for its patient-first approach to providing high-quality healthcare services. The properties are located in strong retail corridors in Alabama (7) and Tennessee (2) and are corporate-operated under long term, triple net leases with approximately 14 years of term remaining. 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.
Category: Acquisition
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Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO
Patrick Wernig, 415-965-8038
CFO
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