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Four Corners Acquires Five Oak Street Properties for $24.3M
Four Corners Property Trust, a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties, has acquired five Oak Street Health properties for $24.3 million.
The properties are located in strong retail corridors in Illinois and Indiana and are corporate-operated under net leases. The transaction was priced at a cap rate in range with previous Four Corners transactions. Four Corners also purchased a Fresenius Medical Care property for $2.6 million and acquired three W.W. Williams properties in Michigan and Ohio for $10.3 million through a sale-leaseback deal.
Four Corners Property Trust is among the nation’s leading owners of restaurant and retail real estate. With a portfolio of 1,030 properties located across 47 states, the company is expected to grow and further diversify its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.
