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Highlights

  • FCPT acquired six Novant Health Urgent Care facilities for a total of USD 12.0 million.
  • All properties are located in South Carolina and operate under long-term triple net leases.
  • The transaction cap rate is consistent with the company's previous acquisition pricing.

Four Corners Property Trust (NYSE:FCPT) has announced the acquisition of six Novant Health Urgent Care properties for USD 12.0 million. The assets are located across high-traffic areas in South Carolina and are operated under corporate-backed, long-term triple net leases.

Novant Health, the tenant for these sites, operates an integrated network of over 900 facilities, including 19 hospitals and more than 750 physician clinics and urgent care locations. The acquisition aligns with FCPT's ongoing focus on stable, net-leased healthcare and retail properties.

Based in Mill Valley, California, FCPT is a real estate investment trust specializing in the ownership and leasing of restaurant and retail properties. The newly acquired assets fit within the company’s strategy of expanding its portfolio through the addition of leased healthcare-oriented sites. The purchase was executed at a capitalization rate in line with past FCPT transactions, though exact figures were not disclosed.

This acquisition continues FCPT’s approach of targeting properties with predictable income streams and long-term lease structures in established markets.