Pet ownership has resulted in increased demand for veterinary services, drawing institutional investors to this sector of investment. Unfortunately, real estate ownership generated less enthusiasm. That disparity triggered Terravet Real Estate Solutions as it acquires and manages single-tenant net leased veterinary properties with niche medical uses.
The REIT seeks to deliver impressive risk-adjusted returns by investing in recession resistant real estate within highly fragmented healthcare subsectors such as veterinary and ophthalmology. Their team comprises experienced healthcare and real estate professionals from private equity, public debt, investment banking and commercial mortgage brokerage industries.
Terravet Real Estate Solutions was established in 2012 in Bala Cynwyd, Pennsylvania and currently owns over 1.5 million square feet of veterinary and niche medical properties nationwide. Over the last three years it has raised $150 Million for Fund III as well as completed numerous transactions involving this property type.
Terravet real estate solutions works with individual veterinary property owners who wish to sell their properties directly into an experienced REIT, relieving them of ongoing responsibilities associated with ownership such as taxes, insurance premiums and lease renewal/expansion requests that can become time consuming and expensive.
Daniel Eisenstadt was previously co-founder and President of Community Veterinary Partners, an array of regional corporate operator of veterinary hospitals with more than 100 clinics throughout the U.S. His experience as a corporate investor allowed him to recognize that the veterinary property ownership segment of real estate market had long been neglected.
Eisenstadt quickly realized when he purchased a Pittsburgh veterinary specialty and emergency center in 2012 that the facility was severely underutilized with potential to expand substantially; however, its corporate owner wasn’t interested in providing necessary capital investment; and furthermore, its building was owned by multiple veterinary practices who didn’t wish to sell off their shares of property ownership.
Eisenstadt successfully linked the leadership team of a veterinary hospital with a representative from Terravet Real Estate Solutions who quickly developed a tailored solution. As a result, all parties received full value for their property; corporate owner gained an ideal development partner; terravet Real Estate Solutions deployed its capital into hospital; ultimately leading to an excellent long-term lease arrangement between parties involved. Terravet Real Estate Solutions collaborates closely with individual property owners to craft tailored real estate solutions that benefit everyone involved – just one example being PVSEC acquisition!