FCPT Announces Acquisition of a Banfield Pet Hospital for $2.4 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 a Banfield Pet Hospital property for $2.4 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 a Banfield Pet Hospital property for $2.4 million.
- The property is newly constructed and located in a strong retail corridor in Iowa under a long term, net lease with approximately 10 years of term remaining.
- The transaction was priced at a 7.3% cap rate on rent as of the closing date and exclusive of transaction costs.