Transaction marks successful realization of Shore's inaugural real estate fund and demonstrates value of integrated real estate strategy

Shore Capital Partners (“Shore” or “Shore Capital”), a Chicago-based private equity firm with offices in Nashville, today announced the sale of the real estate portfolio held by Shore Capital Real Estate Partners Fund I to Four Corners Property Trust (NYSE: FCPT). The portfolio includes 102 Mission Pet Health (“MPH”) veterinary properties for a purchase price of approximately $268 million. Veterinary operations are not part of the transaction, and MPH, one of the nation's largest veterinary operators with more than 930 locations, will continue operating at each location as the long-term tenant under net leases.

The transaction marks the successful realization of Shore's inaugural real estate fund and demonstrates the firm's execution of an integrated real estate strategy within its broader buy-and-build investment model. Since launching the platform in 2021, Shore has deployed flexible real estate capital to support portfolio company growth while creating institutional-quality real estate investment opportunities.

Through sale-leaseback transactions, build-to-suit developments, acquisition financing, and other real estate solutions, Shore enables portfolio companies to unlock capital for growth initiatives while continuing to operate in mission-critical locations under long-term net leases. Through directly integrating solutions with MPH, as independent veterinary practices join the company, founders may have the option to monetize their real estate with MPH continuing as the long-term tenant.

"Our strategy was built to solve real estate challenges for growing businesses while creating attractive long-term opportunities for our investors," said Steve Malley, Shore Partner and Head of Real Estate. "Mission Pet Health is a strong example of that approach. By providing flexible real estate capital alongside Shore's operational investment model, we supported the company's acquisition strategy and continued expansion while building a high-quality portfolio of mission-critical veterinary facilities. We're pleased to transition these assets to Four Corners Property Trust, whose long-term ownership model makes them an excellent steward of the portfolio."

Shore Capital Real Estate Partners Fund I focused on veterinary real estate. Fund II has a broader mandate to invest across Shore's Healthcare, Food & Beverage, Business Services, and Industrial portfolio companies, while also pursuing select opportunities with non-Shore businesses. This broader mandate extends Shore’s ability to offer flexible real estate solutions across a wider range of opportunities.

"As we continue to grow our investment platform, the successful realization of the first real estate fund is an important milestone," said Justin Ishbia, Shore Co-Founder and Managing Partner. "Shore Capital Real Estate Partners Fund II builds on that foundation by expanding beyond veterinary real estate to support our broader portfolio while pursuing select third-party opportunities. That flexibility strengthens the platform for both our portfolio companies and investors."

The transaction closed on July 16, 2026.

About Shore Capital Partners

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 www.shorecp.com.

About Mission Pet Health

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.

About FCPT

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 www.fcpt.com.

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