FCPT Acquires Heartland Dental Property in Oklahoma
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 Heartland Dental property for $3.3 million.
The property is located in a highly trafficked corridor in Oklahoma and is corporate-operated under a triple net lease with approximately four years of term remaining. The transaction was priced at a 6.9% cap rate, including a near-term rent increase 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.
Source: www.fcpt.com.
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