FCPT Announces Acquisition of a Methodist Le Bonheur Pediatric Clinic ...

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FCPT Announces Acquisition of a Methodist Le Bonheur Pediatric Clinic for $3.3 million

MILL VALLEY, Calif. , March 27 /Businesswire/ - 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 Methodist Le Bonheur Pediatric Clinic property for $3.3 million. The property is located in a strong retail corridor in Tennessee and is occupied under a net lease with approximately four years of term remaining. The transaction was priced at a 6.9% cap rate on rent as of the closing date, 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.