4 Corners Property Belief has agreed to amass as much as 102 Mission Pet Well being (MPH) veterinary properties for a purchase order value of as much as $268.0 million from Shore Capital Actual Property Companions Fund I. The deal is predicted to shut in early third-quarter 2026.
A portfolio firm of Shore Capital Companions, MPH offers veterinary companies nationwide by means of greater than 930 places. The portfolio FCPT has agreed to amass spans 31 states and is essentially beneath two triple-net grasp leases.
Invoice Lenehan, CEO of FCPT, mentioned, “We’ve lengthy been energetic within the veterinary sector, and this transaction represents a novel alternative for us to amass a portfolio at scale with an current tenant to additional our progress and diversification aims. We’re notably happy with the long-term grasp leases, the robust rental escalations, and the well-supported larger than 6x hire protection.
