Four Corners Property acquired a five property veterinary clinic portfolio for $13.8M. The portfolio consists of two National Veterinary Associates properties, two Banfield Pet Hospital properties, and one Mission Pet Health property. The properties are located in retail corridors across California, Florida, North Carolina, and Texas and are corporate-operated under net leases with a weighted average nine years of term remaining. The transaction was priced at a 7.3% cap rate on rent as of the closing date and exclusive of transaction costs.
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