Four Corners Property Trust (FCPT) is acquiring an Aspen Dental property for $1.9 million. The property is located in a strong retail corridor in New Mexico and is corporate-operated.
The transaction was priced at a cap rate in range with previous FCPT transactions.
FCPT, headquartered in Mill Valley, California, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.
In February 2023, FCPT announced its acquisition of a Heartland Dental property for $2.2 million.
According to data captured in the LevinPro HC database, this acquisition represents the 45th medical office building (MOB) transaction of 2023. By comparison, there were 48 MOB deals announced between January 1, 2022, and March 16, 2022.
