FCPT Announces Acquisition of an SCA Health Property for $3.9 Million

MILL VALLEY, Calif.--(BUSINESS WIRE)--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 an SCA Health property for $3.9 million. SCA Health, a subsidiary of UnitedHealth Group under its Optum division, operates over 370 clinical locations and 400 physician practice clinics nationwide. It partners with physicians, health systems, and payers to develop and implement surgical care strategies across the U.S. The property is located in a highly trafficked corridor in Alabama and is corporate-operated under a triple net lease with approximately four years of term remaining. The transaction was priced at a 8.3% cap rate on rent as of the closing date 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. Additional information about FCPT can be found on the website at www.fcpt.com.

Category: Acquisition