FCPT Acquires A Baptist Medical Group Primary Care Property For $9.7M
Portfolio Pulse from Benzinga Newsdesk
FCPT has acquired a primary care property operated by Baptist Medical Group for $9.7 million. The property, part of the Baptist Memorial Health Care system, is located in Tennessee and is under a long-term, triple net lease with about 10 years remaining. The deal was completed at a 6.9% cap rate on rent, excluding transaction costs.
February 14, 2024 | 6:33 am
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FCPT's acquisition of a primary care property for $9.7 million, under a long-term lease, reflects a strategic investment in healthcare real estate.
The acquisition of a healthcare property in a high-traffic area, under a long-term lease, is likely to provide stable and predictable revenue streams for FCPT. The deal's cap rate of 6.9% indicates a favorable return on investment, suggesting a positive impact on FCPT's financial performance in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90