GlobeSt has noticed Terravet’s unique experience and expertise in veterinary real estate. The site, which covers trends, analysis, and the latest news in the world of real estate, interviewed our Founder and CEO, Dan Eisenstadt, to uncover his insights gained from years in the industry and how he spotted the veterinary net lease property niche.
Finding our niche in the real estate market
The article explores the gap in the market, which Dan identified as an opportunity in the veterinary industry over 12 years ago. Dedicated veterinary property investments were limited compared to investments funneled into the operational side of a veterinary practice. While many veterinarians sell their businesses while obtaining the property, many would prefer to sell when it comes to the expensive outgoings that come with upkeep and renovations.
This realization led to the acquisition of his first veterinary practice in 2012 which lay the solid foundations for Terravet to grow to where we are today. GlobeSt highlights the unique approach Terravet has taken to lead the way in veterinary real estate. With 90% of our portfolio in veterinary space, it is fair to say we have found our niche in the real estate landscape.
Veterinary practice ownership in the U.S.
Dan discusses the fact that corporations own a large proportion of veterinary and specialty practices, but there remains an opportunity to acquire and develop the veterinary buildings. These large corporations often have a hands-off approach when it comes to ownership of the building, depending on their business model.
Rightly so, the importance of quality real estate to host veterinary care is growing along with the rate of pet ownership, as owners’ views and expectations for pet care have evolved over time. Therefore, ensuring the building is well-equipped to meet these expectations is paramount. Net leases play a crucial role in enabling veterinary practices to maintain high standards, invest in better facilities, and provide an exceptional level of care which is more affordable as the payments become immediately tax deductible.
Discover more about veterinary net lease opportunities
Check out this article to explore Dan’s insights in the real estate niche upon which Terravet have built their reputation and expertise. Discover the REIT structure and our expectations for this in the future. We are honored to be recognized by GlobeSt, who provides expert information to those who, like us, are passionate about the real estate industry.
To find out how we can help you meet your veterinary practice goals, contact us today!