FCPT publishes investor presentation spotlighting $268 million Mission Pet Health veterinary portfolio acquisition
FCPT•Financing and dividend changes
Capital raising included $600 million of term loans in 2026, including $400 million at SOFR+0.9% and $200 million at SOFR+1.25%.
Portfolio diversification reduced Darden exposure to about 41% of pro forma ABR, and dividend payments will shift to monthly starting in August.
Mission Pet Health acquisition details
FCPT highlighted a $268 million purchase of 102 Mission Pet Health veterinary properties, its largest portfolio deal, with rent coverage above 6x.
The deal structure includes two master NNN leases covering 100 properties, roughly 10 years of weighted average lease term remaining, and annual rent increases above 2%.
Acquisition activity and portfolio scale
Acquisition activity reached $351 million through June 30, 2026, with an average property price of .
