4 Corners Property Belief has agreed to amass as much as 102 Mission Pet Well being (MPH) veterinary properties for a purchase order worth of as much as $268.0 million from Shore Capital Actual Property Companions Fund I. The deal is anticipated to shut in early third-quarter 2026.
A portfolio firm of Shore Capital Companions, MPH offers veterinary providers nationwide by greater than 930 places. The portfolio FCPT has agreed to amass spans 31 states and is basically underneath two triple-net grasp leases.
Invoice Lenehan, CEO of FCPT, stated, “We have now lengthy been lively within the veterinary sector, and this transaction represents a singular alternative for us to amass a portfolio at scale with an present tenant to additional our development and diversification aims. We’re notably happy with the long-term grasp leases, the sturdy rental escalations, and the well-supported higher than 6x lease protection.
