AcquisitionsJul 16, 2026, 04:57 PM
FCPT Acquires 102 Mission Pet Health Properties for $268M
AI Summary
Four Corners Property Trust (FCPT) announced the closing of its acquisition of 102 veterinary facilities from Shore Capital Real Estate Partners Holdco, LLC. The transaction, which was part of a previously announced deal, was completed for a purchase price of $268.0 million and is expected to generate approximately $17.37 million in initial full-year cash rent. All properties are operated by Mission Pet Health. This acquisition brings FCPT's year-to-date acquisition volume to 139 properties for a total investment of $364.3 million, marking a record for the company in the first seven months of the year.
Key Highlights
- FCPT closed the acquisition of 102 veterinary properties from Shore Capital Real Estate Partners Holdco, LLC.
- The purchase price for the properties was $268.0 million.
- The properties are expected to generate initial full-year cash rent of approximately $17.37 million.
- All acquired properties are currently operated by Mission Pet Health.
- Year-to-date, FCPT has acquired 139 properties for a total investment of $364.3 million.
- Year-to-date acquisitions were completed at a weighted average cap rate of 6.6%.
Price Impact
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