FCPT Acquires A MercyOne Outpatient Clinic Property For $3M
Portfolio Pulse from Benzinga Newsdesk
Four Corners Property Trust (NYSE:FCPT) has acquired a MercyOne outpatient clinic property for $3 million. The property is located in a strong retail corridor in Iowa and is under a long-term, triple net lease with approximately six years remaining. The transaction was priced at a 7.2% cap rate.
June 07, 2024 | 8:16 pm
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Four Corners Property Trust (NYSE:FCPT) has acquired a MercyOne outpatient clinic property for $3 million. The property is located in a strong retail corridor in Iowa and is under a long-term, triple net lease with approximately six years remaining. The transaction was priced at a 7.2% cap rate.
The acquisition of a new property under a long-term, triple net lease at a 7.2% cap rate is likely to positively impact FCPT's revenue and asset base. The strategic location in a strong retail corridor further enhances the value of this acquisition.
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