Terravet Real Estate Solutions Announces Partnership with The Pritzker Organization

Chicago, IL (September 7, 2018) – Terravet Real Estate Solutions (“Terravet”) announced today that Tom Pritzker Family Business Interests advised by The Pritzker Organization, L.L.C. (“TPO”) invested in Terravet‘s second fund as a lead limited partner and also made a non-control, growth investment in Terravet’s management company.

“The opportunity to partner with The Pritzker Organization is a game-changer for us,” said Daniel Eisenstadt, Chairman and CEO of Terravet Real Estate Solutions. “TPO’s team brings us decades of real estate, operational and investment experience. We look forward to working with The Pritzker Organization as we invest this fund and future funds. Along with TPO, we are thrilled to be working with a very strong group of mostly family office investors to support our long-term ambitions to partner with the best veterinary operators to solve their expanding real estate needs.”

“Terravet’s focus on acquiring and developing leading veterinary facilities will lead to long-lasting partnerships with high quality veterinary operators. We think Daniel and his team have created a differentiated model and have a long growth runway ahead of them,” said Joseph Gleberman, Managing Director at TPO.

 

About Terravet Real Estate Solutions:

Terravet Real Estate Solutions is an internally managed real estate group which owns and manages numerous veterinary properties across the United States. Terravet is currently investing out of its second fund and expects to build a portfolio of veterinary real estate valued in excess of $500 million in the coming years. Terravet partners with operators and owners of veterinary practices and hospitals by acquiring, renovating, and/or expanding existing veterinary facilities, while entering into long-term leases with veterinary practice owners. www.terravetrealestate.com

 

About The Pritzker Organization:

The Pritzker Organization is the merchant bank for the business interests of certain members of the Pritzker family. TPO is focused on partnering with exceptional leaders to create value across a wide range of industries. TPO looks for opportunities to create value for the Pritzker family’s business interests, its partners and its stakeholders over a long-term time horizon. For more than 60 years, TPO has overseen and guided the development of dozens of portfolio companies across a wide variety of industries, including manufacturing, logistics, life sciences, hospitality, healthcare and services. Notable businesses include Hyatt Hotels, Triton Container and the Marmon Group. Recent control investments include TMS International, Lithko Contracting and Hargray Communications Group. In addition to its core strategy of building long-term businesses, Tom Pritzker’s Family Business Interests are also active in special situations, deploying capital across a wide spectrum of industries and across every tier of the balance sheet, from senior debt to equity. Additional information can be found at www.pritzkerorg.com.

Terravet Real Estate Solutions Acquires Real Estate of DVM 360’s Specialty Hospital of the Year

Unique real estate arrangement allowed for the development of groundbreaking facility.

BALA CYNWYD, Pa. (Aug. 29, 2018) – Terravet Real Estate Solutions, an internally managed real estate fund that focuses on the acquisition of veterinary operated real estate, recently acquired the Wheat Ridge Animal Hospital (WRAH) building in Wheat Ridge, Colo., in Q2 of 2018. The property is a state-of-the-art, 37,000-square-foot purpose-built specialty and emergency animal hospital that was developed by the hospital’s owners and affiliates. The property has 19 years remaining of its initial lease term and was acquired at a price that was very close to its construction cost.

 

“The opportunity to add the WRAH facility to our portfolio of veterinary real estate was a no-brainer,” said Daniel Eisenstadt, chairman and CEO of Terravet Real Estate Solutions. “The hospital has been in the area for over 60 years and has established itself as the premier destination for specialized and emergency veterinary medicine in the NW Denver metropolitan area. The facility that the WRAH ownership group developed is a huge asset to recruiting and driving growth in their specialized medicine practices and will position them as the market leader in veterinary medicine for decades to come.”

 

Donald Ostwald, Wheat Ridge Animal Hospital co-founder and partner in the entity that developed the hospital, took great assurance in knowing that Terravet was waiting in the wings to acquire the real estate project. “We had a very particular vision for the construction and development of this hospital based on the constraints we experienced in our last facility,” he said. “The ability to maintain control of the project and not hand it off to a developer, knowing that Terravet was committed to buying the completed project, allowed us to have confidence throughout the process and avoid lofty development fees.”

 

WRAH took home the 2018 dvm360 Hospital Design Competitions “Specialty Hospital of the Year” award, where judges specifically praised the AAHA-accredited hospital for efficiently mixing general practice, specialty referral cases, and 24/7 emergency services all under one – massive – roof. Wheat Ridge Animal Hospital is home to nearly 200 employees and is part of Ethos Veterinary Health.

 

Wheat Ridge was the first property acquired in Terravet Real Estate’s Fund II, which will use leverage on committed capital raised to acquire approximately $200 million in veterinary operated real estate over the next 24 months.

 

About Terravet Real Estate Solutions:

Terravet Real Estate Solutions (formerly Calico Real Estate) offers industry knowledge and insights to veterinary real estate owners, making sure veterinarians maximize the value of their property. Terravet is uniquely positioned to understand the true value of veterinary practice real estate and capitalize on industry trends. Terravet Real Estate Solutions is based in Philadelphia, Pa.

Terravet Real Estate Solutions Selects PEF Services for Fund Administration

Leading real estate investment firm outsources fund administration to drive growth

WEST ORANGE, NJ (September 18, 2018)PEF Services, a leading fund administrator for alternative investment managers, today announced that it has been selected to provide fund administration services to Terravet Real Estate Solutions second fund. PEF’s experienced fund administration services team and leading-edge fund accounting platform will support Terravet’s second fund.

Terravet Real Estate Solutions provides veterinary practice owners with custom tailored real estate solutions and financial resources to help them achieve long-term success.

“Terravet Real Estate Solutions funds have been self-administered since the firm’s founding, and outsourcing will enable us to focus more completely on our investment activities to drive growth,” said Daniel Eisenstadt, Chairman and CEO of Terravet Real Estate Solutions. “We selected PEF Services for its reputation in providing high value services to its clients and the technology platform upon which they support clients.”

PEF Services is nationally recognized as one of the top boutique fund administrators and back-office specialists for both General Partners and Limited Partners in the alternative asset space.  The firm’s services include partnership accounting, financial reporting, capital call and distribution processing, investor capital account maintenance, audit and tax return support and coordinated fulfillment of all investor deliverables.

“We are delighted that Terravet Real Estate Solutions chose to outsource fund administration to PEF,” said Hank Boggio, Chief Revenue Officer of PEF Services. “Outsourcing will support Terravet’s efforts to drive future growth while focusing on strategic initiatives such as fund raising, deal sourcing and portfolio management.”

About Terravet Real Estate Solutions

Terravet Real Estate Solutions is an internally managed real estate group which owns and manages numerous veterinary properties across the United States. Terravet is currently investing out of its second fund and expects to build a portfolio of veterinary real estate valued in excess of $500 million in the coming years. Terravet partners with operators and owners of veterinary practices and hospitals by acquiring, renovating, and/or expanding existing veterinary facilities, while entering into long-term leases with veterinary practice owners. For more information please visit www.terravetrealestate.com.

 

About PEF Services LLC
PEF Services provides high-value, high-touch Fund Administration solutions supported by senior professionals with extensive experience in alternative investments.  PEF has a 15-year track record of delivering cost-effective solutions to Funds and General Partnerships, including Buyout, Venture, Real Estate, Special Purpose Vehicles, Mezzanine, Credit, SBIC, and Fund of Funds.  The firm’s LP Administration Solutions Group (LPAS) focuses solely on meeting the unique administration and data needs of limited partners investing in illiquid alternative assets.  In partnering with PEF, firms increase operational efficiency, reduce and control operating costs, improve focus on core capabilities, and gain access to experts in private capital back office operations.  For more information please visit www.pefservices.com.

Press Contact

Laura Hills

VP, Marketing

PEF Services

212.203.4685 x180

laura.hills@pefservices.com

Terravet Real Estate Solutions Selects PEF Services for Fund Administration

Leading real estate investment firm outsources fund administration to drive growth

WEST ORANGE, NJ (September 18, 2018)—PEF Services, a leading fund administrator for alternative investment managers, today announced that it has been selected to provide fund administration services to Terravet Real Estate Solutions second fund. PEF’s experienced fund administration services team and leading-edge fund accounting platform will support Terravet’s second fund.

Terravet Real Estate Solutions provides veterinary practice owners with custom tailored real estate solutions and financial resources to help them achieve long-term success.

“Terravet Real Estate Solutions funds have been self-administered since the firm’s founding, and outsourcing will enable us to focus more completely on our investment activities to drive growth,” said Daniel Eisenstadt, Chairman and CEO of Terravet Real Estate Solutions. “We selected PEF Services for its reputation in providing high value services to its clients and the technology platform upon which they support clients.”

PEF Services is nationally recognized as one of the top boutique fund administrators and back-office specialists for both General Partners and Limited Partners in the alternative asset space.  The firm’s services include partnership accounting, financial reporting, capital call and distribution processing, investor capital account maintenance, audit and tax return support and coordinated fulfillment of all investor deliverables.

“We are delighted that Terravet Real Estate Solutions chose to outsource fund administration to PEF,” said Hank Boggio, Chief Revenue Officer of PEF Services. “Outsourcing will support Terravet’s efforts to drive future growth while focusing on strategic initiatives such as fund raising, deal sourcing and portfolio management.”

About Terravet Real Estate Solutions

Terravet Real Estate Solutions is an internally managed real estate group which owns and manages numerous veterinary properties across the United States. Terravet is currently investing out of its second fund and expects to build a portfolio of veterinary real estate valued in excess of $500 million in the coming years. Terravet partners with operators and owners of veterinary practices and hospitals by acquiring, renovating, and/or expanding existing veterinary facilities, while entering into long-term leases with veterinary practice owners. For more information please visit www.terravetrealestate.com.

About PEF Services LLC
PEF Services provides high-value, high-touch Fund Administration solutions supported by senior professionals with extensive experience in alternative investments.  PEF has a 15-year track record of delivering cost-effective solutions to Funds and General Partnerships, including Buyout, Venture, Real Estate, Special Purpose Vehicles, Mezzanine, Credit, SBIC, and Fund of Funds.  The firm’s LP Administration Solutions Group (LPAS) focuses solely on meeting the unique administration and data needs of limited partners investing in illiquid alternative assets.  In partnering with PEF, firms increase operational efficiency, reduce and control operating costs, improve focus on core capabilities, and gain access to experts in private capital back office operations.  For more information please visit www.pefservices.com.

Press Contact

Laura Hills

VP, Marketing

PEF Services

212.203.4685 x180

laura.hills@pefservices.com