BREAKING: A significant transaction has just occurred in Dauphin County, as Terramed Real Estate Solutions has officially acquired a building housing the Animal Hospital of Dauphin County for $1.9 million. The deal, completed on December 9, 2023, marks a pivotal moment for the local veterinary community and underscores the increasing demand for specialized healthcare facilities.
This acquisition not only secures the future of the Animal Hospital but also allows its owner, Dr. Bob Sarsfield, to transition into a long-term lease with Terramed. This strategic move is designed to ensure continuity for the practice while providing the seller with tax-efficient ownership transfer options. Terramed officials confirmed that the transaction was structured as an UPREIT (Umbrella Partnership Real Estate Investment Trust) exchange.
The 7,384-square-foot facility, located in West Hanover Township, boasts advanced medical capabilities with a full-service in-house laboratory and pharmacy. It supports a team of 12 veterinarians and is equipped for various diagnostic and treatment services, including surgical procedures, rehabilitation, X-ray, and ultrasound technologies.
Dr. Sarsfield expressed his enthusiasm about the benefits of this transition, stating,
“This building has supported our team for a long time because it gives us the room and tools to offer a wide range of treatments in one place. Families know they can come to us for whatever their animals need. They value that kind of familiarity — and so do we. This decision will help the hospital care for our patients’ health and well-being for decades to come.”
Terramed’s growing portfolio now encompasses over 1.5 million square feet of space across more than 35 states. This acquisition not only highlights the company’s commitment to healthcare real estate but also reinforces their focus on enhancing veterinary services in communities nationwide.
As the veterinary landscape evolves, this acquisition could set a precedent for future transactions in the sector. Local pet owners can breathe a sigh of relief knowing their beloved animals will continue to receive care in a well-equipped facility.
What’s next? Keep an eye on Terramed Real Estate Solutions as they expand their influence in the healthcare real estate market, promising more developments that could reshape veterinary practices across the country.
