FCPT Closes Acquisition of 102 Mission Pet Health Veterinary Properties for $268 Million as part of Previously Announced Mission Pet Health Veterinary Transaction
Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), closed on the purchase of 102 Mission Pet Health veterinary properties for a purchase price of $268.0 million on next twelve months’ cash rent of approximately $17.37 million, and inclusive of a rent credit received at closing. This was part of the previously announced transaction in May 2026.
Including today’s acquisition, and year-to-date, FCPT has completed the acquisition of 139 properties for a total investment of $364.3 million (excluding transaction costs) at a weighted average cap rate of 6.6%. This figure exceeds FCPT’s previous record for annual acquisition volume in just the first seven months of the year.
CEO Bill Lenehan commented: “We are very pleased to complete this transaction and significantly expand our relationship with Mission Pet Health. Both they and Shore Capital Partners have been excellent partners throughout this process, and we appreciate their collaboration in bringing it to a successful close. With this transaction, we have also achieved record acquisition volume in the first seven months of the year. This demonstrates our team’s capabilities to source and execute accretive opportunities both granularly and at scale.”
