FCPT Acquires A Baptist Health Property For $4.7M

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 Baptist Health property for $4.7 million. The property is newly constructed and located in a strong retail corridor in Alabama and is corporate-operated under a long term, net lease with approximately ten years of term remaining. The transaction was priced at a 6.8% cap rate on rent as of the closing date and exclusive of transaction costs.