Bala Cynwyd, PA, July 31, 2019 – Terravet Real Estate Solutions, a real estate investment firm which focuses on veterinary operated real estate, is pleased to announce that it has acquired seven net leased veterinary real estate assets over the course of the last 60 days. The properties represent over 40,000 square feet of general practice and emergency veterinary buildings across six states and are leased to six different corporate groups.
Terravet believes its transaction flexibility and thorough understanding of the veterinary sector allowed it to acquire the assets in seven separate transactions which all had unique selling circumstances. “Our strong relationships within the veterinary industry have allowed us to transact on veterinary real estate across all stages of the veterinary practice lifecycle – through direct sale-leasebacks when the practice is sold, from veterinarians still working in practices, and veterinarians who have stopped practicing and are looking for additional liquidity,” said Daniel Eisenstadt, CEO of Terravet.
The seven properties were acquired by Terravet Real Estate’s second fund, which plans to invest committed debt and equity capital to acquire more than $200 million in veterinary operated real estate. Terravet expects to increase its pace of acquisition in the second half of the year along with the growth of its leadership team.