FCPT Announces Acquisition of Five Novant Health Urgent Care Properties for $11.7 Million

FCPT Announces Acquisition of Five Novant Health Urgent Care Properties for $11.7 Million

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 five Novant Health Urgent Care properties for $11.7 million. The properties are located in strong retail corridors in South Carolina and corporate-operated under net leases with approximately five years of term remaining. The transaction was priced at a 6.9% cap rate including rent credits received at closing and exclusive of transaction costs.