Widespread pet ownership and advances in veterinary medicine have contributed to an explosion in demand for veterinary services, driving growth within the industry. While this trend attracted attention from investors, ownership of real estate had less of an impact. Daniel Eisenstadt recognized and took advantage of this gap by founding Terravet Real Estate Solutions specifically targeting practice owners by providing real estate solutions.
This company’s aim is to acquire top-quartile real estate for use as purpose-built veterinary and niche medical real estate that supports delivery of top-quality veterinary services. They collaborate with entrepreneurial veterinarians and doctors, offering them opportunities to diversify their holdings while mitigating risk through an innovative UPREIT structure.
Based outside Philadelphia, this firm invests across the U.S. with an eye towards suburban and urban markets suited for housing veterinary practices. Properties may either be purpose built or carefully converted, providing modern state-of-the-art facilities tailored specifically for veterinarians and their patients. Their portfolio also comprises specialty hospitals, dental clinics, urgent care centers and medical office buildings – each designed specifically to suit each sector of healthcare real estate investment.
As well as funds and REIT, this firm offers a veterinary-specific private equity fund that provides capital to existing veterinary practices for expansion or renovation of their properties. Their team consists of experienced investment professionals with knowledge in finance, operations and accounting in addition to an in-depth knowledge of veterinary practice environments.
As property owners in healthcare settings, making the choice to sell or hold their real estate is a crucial one with lasting consequences for their finances. No matter their decision, Terravet Real Estate Solutions’ team can assist them in optimizing its value while reaching their retirement goals.
Recently, the firm helped a doctor obtain a larger facility for her practice in Hernando, Mississippi – more than tripling its previous footprint by almost threefold – to meet rising demand for veterinary services in Hernando and Hernando’s surrounding communities.
Peter Kilkelly, CFO, has over 10 years of experience in both public accounting and animal healthcare. Beginning his career at Burzenski & Company – a veterinary-specific accounting firm – where he worked closely with veterinarians to improve their financial health while remaining compliant with federal and state tax regulations, Peter holds both an MBA from NYU Stern School of Business as well as a Bachelor’s from Middlebury College; living with his wife and two dogs in Bala Cynwyd Pennsylvania while enjoying golf, running, gardening – among many other interests!