Four Corners (FCPT) Buys Mercy Health Clinic Property for $3.8M

The property is corporate-operated under a triple net lease with five years of residual term and is likely to generate steady revenues. Priced at a cap rate of 7.1% on rent as of the closing date, excluding transaction costs, FCPT's latest acquisition seems prudent. In May, Four Corners announced the purchase of eight Mavis Tire and affiliated operated properties for $20 million. Located across Alabama, Georgia, Louisiana, New Jersey, New York and Tennessee, each of these properties is operated under a long ...