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

  • Four Corners Property Trust acquired five Novant Health Urgent Care properties for $11.7 million.
  • The properties are situated in strong retail corridors in South Carolina.
  • The assets are 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 & excluding transaction costs.
  • FCPT is a real estate investment trust headquartered in Mill Valley, CA, focused on net-leased restaurant & retail properties.