FCPT Announces Acquisition of a Baptist Medical Group Primary Care Property for $9.7 Million
13 Febrero 2024 - 6:18PM
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 Baptist Medical Group primary care property for $9.7 million.
Baptist Medical Group’s parent company, Baptist Memorial Health
Care, was founded in 1912 and is one of the largest not-for-profit
healthcare systems in the United States. The property is located in
a highly trafficked corridor in Tennessee and is corporate-operated
under a long-term, triple net lease with approximately 10 years of
term remaining. The transaction was priced at a 6.9% 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.
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Four Corners Property Trust: Bill Lenehan, 415-965-8031 CEO
Gerry Morgan, 415-965-8032 CFO
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