URGENT UPDATE: Terramed Real Estate Solutions has officially acquired a building housing the Animal Hospital of Dauphin County for a staggering $1.9 million. The deal was confirmed on December 9, 2023, and marks a significant step for both the real estate group and the local veterinary practice in Dauphin County.
The one-story, 7,384-square-foot facility, located in West Hanover Township, is now under a long-term lease agreement with the animal hospital’s owner, Dr. Bob Sarsfield, who expressed enthusiasm about the transition. “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,” Dr. Sarsfield stated. Families value this continuity, and so do we, ensuring the hospital can care for pets’ health for decades to come.
Terramed, specializing in properties for veterinary and healthcare practices, structured this transaction as an UPREIT (Umbrella Partnership Real Estate Investment Trust) exchange. This allows the seller to maintain a stake in the property while transitioning ownership in a tax-efficient manner. The strategic move supports both the continuity of the animal hospital and Terramed’s diverse healthcare real estate portfolio, which spans over 1.5 million square feet across more than 35 states.
The Animal Hospital of Dauphin County accommodates a general practice with 12 veterinarians and features an in-house laboratory, pharmacy, and dedicated spaces for diagnostic and treatment capabilities including surgical procedures, rehabilitation services, X-ray, ultrasound machines, and therapeutic technologies.
As the local community eagerly anticipates the future of this beloved institution, the acquisition promises to enhance veterinary care in the area significantly. This deal exemplifies the growing trend of real estate investments in healthcare, reflecting a commitment to improving patient outcomes and operational efficiencies.
Stay tuned for more updates as this story develops!
