Bala Cynwyd, PA (April 19th, 2019) – Terravet Real Estate Solutions, real estate investment firm, which focuses on the acquisition of veterinary operated real estate, recently acquired the CountyChase Veterinary Clinic (“CountryChase”) real estate in Tampa, Florida. The property is a 5,000 sq. ft. general practice that has an operating history of over 20 years in the WestChase community in Northwest Tampa and represents Terravet’s first acquisition in the state of Florida.
The acquisition occurred co-terminously with the sale of the practice from an independent operator to American Veterinary Group (“AVG”), a regional operator of approximately 20 general practices in Florida and the Carolinas. Terravet was able to provide the real estate capital to allow the seller to experience a complete exit while providing AVG with a long-term real estate partner committed to owning and operating top-of-the-line veterinary real estate assets.
“We were very pleased with the level of professionalism Terravet brought to the transaction,” said Craig Niebur, CEO of American Veterinary Group. “The ability to provide our practice partners with an easy and reliable real estate solution is an asset to our acquisition process and the ability to work with a sophisticated Landlord committed to a long-term real estate strategy is an asset to our business.”
The CountryChase property was acquired by Terravet Real Estate’s Fund II, which plans to invest committed debt and equity capital to acquire more than $200 Million in veterinary operated real estate.