FCPT Acquires Patient First Urgent Care Property for $6.6 Million

FCPT has acquired a Patient First Urgent Care property in Pennsylvania for $6.6 million. The property is corporate-operated under a long-term triple net lease and is priced at a cap rate in line with previous FCPT transactions. The acquisition is expected to grow FCPT's portfolio of net-leased restaurant and retail properties.

Four Corners Property Trust (NYSE: FCPT) has announced the acquisition of a Patient First Urgent Care property located in Pennsylvania for $6.6 million. The property is corporate-operated under a long-term triple net lease, aligning with the company's strategy to expand its portfolio of net-leased restaurant and retail properties [1].

The acquisition was priced at a cap rate in line with previous FCPT transactions, indicating a consistent valuation approach. The property is situated in a strong retail corridor, which is expected to contribute positively to the company's revenue streams. The long-term lease structure ensures a steady income stream for FCPT, reducing operational risks associated with short-term leases.

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's strategy focuses on growing its portfolio by acquiring additional real estate to lease on a net basis, which this acquisition supports [1].

This acquisition is a strategic move for FCPT, which aims to diversify its portfolio and capitalize on the growing demand for urgent care services. By acquiring properties that align with its long-term investment strategy, FCPT continues to position itself as a reliable player in the real estate investment trust sector.

References:
[1] https://www.stocktitan.net/news/FCPT/fcpt-announces-acquisition-of-a-patient-first-urgent-care-property-a4pjsbp0i6aq.html