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Nareit Feature Terravet’s Veterinary Real Estate Insights

Terravet CEO and Founder shares veterinary real estate insights with Nareit

Terravet has witnessed significant transformations in the pet care industry since our first veterinary real estate purchase in 2012. Being involved in the evolution of the industry has helped us to build the company and expertise we have today, pioneering new paths in the veterinary real estate market. Recently, Nareit explored our journey, featuring insights from our CEO and Founder, Daniel Eisenstadt, some of which we’d like to share with you.

Dan has seen first-hand how the industry has presented a growing discrepancy between the ownership of veterinary practices and veterinary real estate. The article covers Dan’s perspective and the opportunity he identified, which built the foundations of Terravet Real Estate Solutions. Opportunities in the industry have evolved through shifts in trends in the real estate market, pet health care, and pet ownership.

The article covers a range of real estate trends and insights:

  • The evolving landscape of the pet care industry
    • Most importantly, as mentioned, Dan identified a blatant mismatch in veterinary practice building ownership. Over time, this is shifting from individual doctors to private equity investors, giving many businesses the trust and reputation that can be built as part of a corporate entity.
  • Increased pet spending
    • Nareit and Dan explore boosts in spending in the pet industry, which are a result of societal trends and improvements in modern medicine. More specifically, the increase in pet owners in the United States, combined with modern innovations in veterinary medicine, has contributed to this boom in funds funnelled to the industry.
  • Increasing requirements in veterinary real estate
    • The growing number of pet owners has also caused higher expectations for medical care for pets. A home converted to a veterinary space can rarely meet these expectations. The standard is now for veterinary care to be carried out in a fully kitted-out medical facility. Many veterinary properties aren’t meeting the needs of practices with these expectations, leaving lots of opportunity for investment and industry growth.
  • Expansion on the horizon
    • Dan and the rest of the Terravet team are taking this expertise to the next level, expanding beyond the focus of veterinary properties. The next stage we have embarked upon is to continue building on what we have learned from the years in the veterinary industry and expand our horizons to work in speciality medical practices, with a current focus on ophthalmology, soon to be followed by fertility treatment facilities, too.

This insight-rich article from Nareit, paired with Dan’s extensive experience in the veterinary real estate field, brings additional understanding to what was once considered a very niche industry. The pet care industry’s evolution presents exciting opportunities, and Terravet is proud to be leading the way for our clients to navigate these developments. From pioneering veterinary real estate projects to helping our clients to explore new markets, we are driven by our commitment to excellence and innovation.

We are delighted that Nareit has recognised our work and expertise. Read the Nareit article here for more insights into our recent acquisitions, expert insights, and future plans.

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