Terravet Real Estate is an industry-leading real estate group dedicated to owning, managing and developing single tenant net leased veterinary and niche medical properties. Their portfolio encompasses approximately one million square feet in 31 states primarily leased out to corporate operators of veterinary practices or related healthcare practices.
Terravet team brings expertise from finance, accounting, legal, and real estate sectors together to provide tailored solutions that meet the needs of veterinary professionals and pet owners alike. Their ten-year track record working with practice owners to invest in and improve their properties as well as offer solutions for those wanting to sell and move onto other professional pursuits or simply reduce ongoing responsibilities associated with real estate ownership such as taxes, insurance renewals, renovation requests etc. is testament to this.
The group has devised numerous innovative solutions to assist veterinarians and doctors achieve their investment goals. At its core, its core business remains the acquisition of high quality purpose-built veterinary medical real estate which facilitates high quality veterinary care delivery. Furthermore, this group gives veterinary owners the option of diversifying their real estate holdings while still having exposure to veterinary real estate through UPREIT transactions.
At present, Terravet’s team is focused on expanding its veterinary portfolio by identifying and acting upon a diverse selection of acquisition opportunities. Furthermore, they continue to seek other high-growth healthcare related property types with attractive risk/return profiles in areas such as ophthalmology or veterinary. Their goal is to acquire recession resistant assets that offer attractive risk/return profiles; such as acquisitions that focus on recession resistant assets that provide attractive risk/return profiles such as those associated with highly fragmented subsectors such as veterinary and Ophthalmology where many opportunities may exist for acquisition opportunities that provide attractive risk adjusted returns in highly fragmented healthcare subsectors like Ophthalmology/Vet.
Terravet recently secured a $35 million preferred equity investment from an affiliate of Sculptor Capital Management, Inc. (Sculptor) through KeyBanc Capital Markets as the sole placement agent. Proceeds from the investment were used to reduce debt, providing Terravet with enough room and flexibility for their active acquisition pipeline and future platform growth.
Terravet team has expanded its footprint in healthcare sector through utilizing its vast network of relationships and understanding of single-tenant, net leased real estate to identify opportunities. Furthermore, they are expanding their portfolio with ambulatory surgery centers leased to corporate operators of ophthalmology practices; an investment niche currently dominated by large institutional investors.
Terravet Real Estate was established in 2012 as the premier institutional and preeminent aggregator of net leased veterinary and niche human healthcare properties. Their core business is to acquire top-quartile purpose-built niche veterinary medical real estate that facilitates providing top quality veterinary care, and they also seek investment opportunities within other healthcare subsectors such as Ophthalmology.