2023-07-17 11:47:19 ET
- Four Corners Property Trust ( NYSE: FCPT ) said on Monday that it had acquired four properties for $17.9M.
- "The transaction was priced at a 6.6% cap rate on rent as of the closing date, exclusive of transaction costs," FCPT said in a statement .
- According to FCPT, the portfolio spans eight brands and nine leases: Starbucks (2), Aspen Dental, Bronson Health, Great Clips, Mattress Firm, Oak Street Health, Taco Bell, and WellNow Urgent Care.
- FCPT added that the properties are newly constructed and located in strong retail corridors in MI and IN and are occupied under long-term net leases.
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Four Corners Property Trust buys four properties for $17.9M