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Highlights

  • The property was acquired for USD 3.7 million at a 7.5% capitalization rate, excluding transaction costs.
  • The lease is a triple net structure with approximately five years of term remaining.
  • The tenant, Ethos Veterinary Health, operates over 140 specialty and emergency hospitals across North America.

Four Corners Property Trust (NYSE: FCPT), a real estate investment trust focused on high-quality, net-leased properties, has announced the acquisition of a veterinary healthcare property in New York for USD 3.7 million.

The asset is leased to Ethos Veterinary Health, a corporate operator of more than 140 specialty and emergency hospitals across North America. The lease is structured as a triple net lease with approximately five years remaining.

Located in a strong retail corridor, the property was acquired at a capitalization rate of 7.5 percent based on rent as of the closing date, excluding transaction costs.

FCPT continues to expand its national portfolio by targeting service-based and retail properties under long-term net leases. The company seeks to generate stable income and growth through disciplined real estate acquisitions.