Benzinga | Aug 24, 2021 04:58PM EDT

FCPT Announces Acquisition of 2 Vet Clinic Properties For $3.9M

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 two Pathway Vet Alliance properties for $3.9 million. The properties consist of a Thrive Vet Care property and a dual-tenant property that is anchored by Eye Care for Animals and includes a space of approximately 2,000 square feet that FCPT will lease to a new retail tenant. The properties are located in strong retail corridors in Illinois and Rhode Island and are occupied under net leases with a weighted average term of eight years remaining. The transaction was priced at a 6.6% going-in cash capitalization rate, exclusive of transaction costs.