BALA CYNWYD, Pa.–(BUSINESS WIRE)–Terravet Real Estate Solutions, a leading real estate group focused on veterinary real estate, today announced the acquisition of Pittsburgh Veterinary Specialty and Emergency Center (PVSEC) real estate for $22.6 million. The PVSEC real estate is comprised of two veterinary hospital buildings totaling over 48,000 square feet. This acquisition brings Terravet’s total portfolio to approximately one million square feet and approximately 70,000 square feet in the Pittsburgh market.
PVSEC’s main North Hills location is 34,832 square feet and sits on 9.8 acres just off the I-279 Camp Horne Road exit. The practice was built in 2008 and renovated in 2015 to become the state-of-the-art facility it is today. The Mount Washington satellite location is 13,350 square feet and spans 5 acres. The second PVSEC facility was built in 2017 and was built specifically to facilitate future expansion.
“Terravet had its best year yet in 2021 and adding the Pittsburgh Veterinary Specialty and Emergency Center to our portfolio of premier veterinary facilities is a great way to build on our momentum,” said Daniel Eisenstadt, CEO of Terravet Real Estate Solutions. “We look forward to increasing our presence in Pittsburgh and providing support to PVSEC as they consider expanding their facilities.”
PVSEC is one of the largest and most comprehensive emergency and specialty veterinary hospitals in Pennsylvania. Open 24 hours a day, 7 days a week, the practice has approximately 50 doctors of veterinary medicine who can help manage any type of veterinary emergency or specialty, including cardiology, dermatology, neurology and oncology. . PVSEC is also equipped with sophisticated diagnostic equipment such as a CT scanner, linear accelerator, ultrasound machines, and western Pennsylvania’s only high-field MRI.
This acquisition follows a very successful 2021 for Terravet. Last year, the company made 55 acquisitions in more than 10 new states, including Iowa, Mississippi, New Hampshire and Wyoming.
Terravet invests in, develops and operates veterinary and other healthcare real estate across the United States. The company works alongside veterinary and healthcare operators to maximize their property value by improving the quality of their facilities and selling their real estate.
About Terravet Real Estate Solutions
Terravet Real Estate Solutions is an internally managed real estate group that owns and manages veterinary and certain other healthcare properties across the United States. Terravet owns approximately 1,000,000 square feet of veterinary and healthcare real estate located in more than 30 states. Terravet partners with strong veterinary and healthcare operators and offers flexible solutions including sale-leasebacks, joint ventures, and renovation and expansion programs. The Terravet team is comprised of real estate, finance and operations professionals and brings decades of expertise to the transactions they conduct. Terravet is committed to improving health by channeling resources and knowledge to the institutions where care is provided and to those who provide care. For more information, please visit www.terravetrealestate.com.