
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 (&#34;FCPT&#34; or the

<p xmlns="http://www.w3.org/1999/xhtml">
Four Corners Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FCPT">FCPT</a>), 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.

</p><p xmlns="http://www.w3.org/1999/xhtml">
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.

</p><p xmlns="http://www.w3.org/1999/xhtml">
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."

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About FCPT</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.fcpt.com&amp;esheet=54572005&amp;newsitemid=20260716381255&amp;lan=en-US&amp;anchor=www.fcpt.com&amp;index=1&amp;md5=72ec736503561e0aca78736769edc680" shape="rect">www.fcpt.com</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Shore Capital Partners</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Shore Capital, a Chicago-based private equity firm with an office in Nashville, is an investor in lower-middle market companies in the Healthcare, Food and Beverage, Business Services, Industrial, and Real Estate industries. Shore’s strategy is to support management partners to grow faster with less risk through access to capital, world-class board and operational resources, and unmatched networking, development, and shared learnings across the portfolio. From 2020-2025, Shore received recognition from Inc. Magazine as a 6x Top Founder Friendly Investor and by Pitchbook Research for leading U.S. Private Equity deal volume for the past 10 years, from 2015-2024. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant potential to grow through industry consolidation and organic growth to generate value for shareholders. Shore has approximately $17 billion of assets under management and in additional investment platforms to which it provides business and operational consulting services. To learn more about Shore Capital Partners, and for more information on these awards and investment platforms, please visit <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.shorecp.com&amp;esheet=54572005&amp;newsitemid=20260716381255&amp;lan=en-US&amp;anchor=www.shorecp.com&amp;index=2&amp;md5=0afa9a96f9538a5d6e200b305af16e7c" shape="rect">www.shorecp.com</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Mission Pet Health</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Mission Pet Health is one of the leading veterinary care organizations in the U.S., formed by the merger of Southern Veterinary Partners and Mission Veterinary Partners. At Mission Pet Health, we are reimagining excellence in veterinary care by providing world-class support to hospital teams on a hyper-local basis. We are committed to delivering exceptional service, personalized medicine, and innovative experiences to our clients while empowering our team members with medical autonomy and unparalleled opportunities for personal and professional development. Together, we’re driving a lasting impact for our teams, the communities we serve, and the pets we care for.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Category: Acquisition</b>

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260716381255r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260716381255/en/" rel="nofollow">https://www.businesswire.com/news/home/20260716381255/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Four Corners Property Trust:
<br xmlns="http://www.w3.org/1999/xhtml"></br>Bill Lenehan, 415-965-8031
<br xmlns="http://www.w3.org/1999/xhtml"></br>CEO
<br xmlns="http://www.w3.org/1999/xhtml"></br>
<br xmlns="http://www.w3.org/1999/xhtml"></br>Patrick Wernig, 415-965-8038
<br xmlns="http://www.w3.org/1999/xhtml"></br>CFO

</p>

FCPT

FCPT Closes Acquisition of 102 Mission Pet Health Veterinary Properties for $268 Million as part of Previously Announced Mission Pet Health Veterinary Transaction

FCPT posts record acquisition pace with $364 million YTD portfolio expansion

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>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 (&amp;#34;FCPT&amp;#34; or the</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>FCPT closed on 102 Mission Pet Health veterinary properties for $268 million, adding about $17.37 million in annual rent with a closing rent credit. Year-to-date, FCPT has acquired 139 properties for $364.3 million at a 6.6% cap rate, signaling a company-record deal pace. Management expects continued accretive growth from scale and partner-driven opportunities.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>FCPT closes 102 Mission Pet Health vet properties for $268M.</li><li>12-month cash rent about $17.37M; rent credit included at closing.</li><li>Year-to-date acquisitions: 139 properties, $364.3M, cap rate 6.6%.</li><li>Record acquisition volume in first seven months.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Four Corners Property Trust (FCPT)</strong>: Acquisition vehicle; closing expands rent base and portfolio scale.</li><li><strong>Mission Pet Health (N/A)</strong>: Private veterinary care network; strategic anchor for FCPT&#039;s growth.</li><li><strong>Shore Capital Partners (N/A)</strong>: Private equity sponsor; involved in the deal, potential ongoing collaboration.</li></ul>
  </section>

  <section data-block="category">
    <h3>Acquisition</h3>
    <p>Category: Acquisition. The news centers on asset acquisitions and portfolio expansion, underscoring FCPT&#039;s growth via large-scale, accretive net-lease acquisitions.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Record year-to-date acquisitions imply higher near-term NOI and rent roll growth.</li><li>New Mission Pet Health deal adds immediate, diversified rent stream.</li><li>Acquisition cap rate around 6.6% supports attractive yields vs peers.</li><li>Execution and funding risks could influence near-term price dynamics.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>102 Mission Pet Health properties acquired for $268.0 million.</li><li>Annual cash rent约 $17.37 million; rent credit at closing.</li><li>Year-to-date acquisitions: 139 properties; total investment $364.3 million (ex costs).</li><li>Weighted average cap rate on acquisitions: 6.6%.</li><li>Acquisition part of May 2026 announced transaction.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish over 3-9 months as acquisitions scale rent and portfolio quality.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">
Four Corners Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/FCPT">FCPT</a>), 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.

</p><p xmlns="http://www.w3.org/1999/xhtml">
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.

</p><p xmlns="http://www.w3.org/1999/xhtml">
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."

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About FCPT</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.fcpt.com&amp;esheet=54572005&amp;newsitemid=20260716381255&amp;lan=en-US&amp;anchor=www.fcpt.com&amp;index=1&amp;md5=72ec736503561e0aca78736769edc680" shape="rect">www.fcpt.com</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Shore Capital Partners</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Shore Capital, a Chicago-based private equity firm with an office in Nashville, is an investor in lower-middle market companies in the Healthcare, Food and Beverage, Business Services, Industrial, and Real Estate industries. Shore’s strategy is to support management partners to grow faster with less risk through access to capital, world-class board and operational resources, and unmatched networking, development, and shared learnings across the portfolio. From 2020-2025, Shore received recognition from Inc. Magazine as a 6x Top Founder Friendly Investor and by Pitchbook Research for leading U.S. Private Equity deal volume for the past 10 years, from 2015-2024. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant potential to grow through industry consolidation and organic growth to generate value for shareholders. Shore has approximately $17 billion of assets under management and in additional investment platforms to which it provides business and operational consulting services. To learn more about Shore Capital Partners, and for more information on these awards and investment platforms, please visit <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.shorecp.com&amp;esheet=54572005&amp;newsitemid=20260716381255&amp;lan=en-US&amp;anchor=www.shorecp.com&amp;index=2&amp;md5=0afa9a96f9538a5d6e200b305af16e7c" shape="rect">www.shorecp.com</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Mission Pet Health</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Mission Pet Health is one of the leading veterinary care organizations in the U.S., formed by the merger of Southern Veterinary Partners and Mission Veterinary Partners. At Mission Pet Health, we are reimagining excellence in veterinary care by providing world-class support to hospital teams on a hyper-local basis. We are committed to delivering exceptional service, personalized medicine, and innovative experiences to our clients while empowering our team members with medical autonomy and unparalleled opportunities for personal and professional development. Together, we’re driving a lasting impact for our teams, the communities we serve, and the pets we care for.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Category: Acquisition</b>

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260716381255r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260716381255/en/" rel="nofollow">https://www.businesswire.com/news/home/20260716381255/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Four Corners Property Trust:
<br xmlns="http://www.w3.org/1999/xhtml"></br>Bill Lenehan, 415-965-8031
<br xmlns="http://www.w3.org/1999/xhtml"></br>CEO
<br xmlns="http://www.w3.org/1999/xhtml"></br>
<br xmlns="http://www.w3.org/1999/xhtml"></br>Patrick Wernig, 415-965-8038
<br xmlns="http://www.w3.org/1999/xhtml"></br>CFO

</p>

FCPT closed on 102 Mission Pet Health veterinary properties for $268 million, adding about $17.37 million in annual rent with a closing rent credit. Year-to-date, FCPT has acquired 139 properties for $364.3 million at a 6.6% cap rate, signaling a company-record deal pace. Management expects continued accretive growth from scale and partner-driven opportunities.

fcpt-closes-acquisition-of-102-mission-pet-health-veterinary-properties-for-268-million-as-part-of-previously-announced-mission-pet-health-veterinary-transaction

FCPT Closes Acquisition of 102 Mission Pet Health Veterinary Properties for $268 Million as part of Previously Announced Mission Pet Health Veterinary Transaction

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Others

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