What Practice Real Estate Group does

Practice Real Estate Group (PRG) is a privately held commercial real estate brokerage founded in 2014 by Thomas Allen and headquartered in Austin, Texas. The firm exclusively serves healthcare practices, providing tenant representation, buyer representation, custom development advisory, data-driven site selection, and demographics/competition research. PRG's core product is its healthcare-focused brokerage services, supported by a proprietary competitive practice mapping system and a database of hundreds of thousands of healthcare-relevant properties assembled over 11+ years of transactions. Its customer base spans dental, medical, veterinary, optometry, and pediatric practices, with segments including first-time practice owners, established practice owners expanding or relocating, and multi-location healthcare groups/DSOs. PRG also offers a self-service Practice Rent and Expense Calculator as a financial estimation tool and operates a wholly-owned subsidiary, Practice Transitions Group (launched 2021), which brokers healthcare practice sales and transitions.

Revenue is generated through transaction-based commissions paid by landlords on signed leases and by sellers on purchases, plus fees on custom development engagements. Services are delivered at no direct cost to the client. The go-to-market motion combines direct sales through a national network of brokers and co-brokers, content marketing (blog, case studies), SEO, conference presence (e.g., Southwest dental conference), and a referral-driven client base, with the founder (Thomas Allen, CRO) and CTO/COO (David Williams) overseeing operations, research teams, and product.

PRG serves both startup practices (searching for first or new locations) and growing enterprises (expanding multi-location footprints), with documented long-tenure relationships where clients return for repeated transactions as their practices scale. Reported cumulative metrics include 1,000+ healthcare practices served, 1,000+ transactions completed, and over 1 million sq ft of ground-up development and acquisitions. The leadership team includes founder Thomas Allen, CTO/COO David Williams, SVP Mark Storey (Central Texas market), and Custom Development Lead Trac Bledsoe. The firm is privately held with no disclosed institutional funding.

Name

Practice Real Estate Group

Legal name

Thomas Allen Real Estate Advisors, II

Website

https://practicerealestategroup.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Practice Real Estate Group is a healthcare-focused commercial real estate brokerage offering tenant and buyer representation, data-driven site selection, custom development advisory, and demographics research to dental, medical, veterinary, and optometry practices across the United States.

Ownership category

akta.pro rank

Product category

Healthcare Commercial Real Estate Brokerage

NAICS

Offices of Real Estate Agents and Brokers (53121), Offices of Real Estate Agents and Brokers (531210)

SIC

Real Estate Agents & Managers (For Others) (6531), Real Estate (6500)

akta.pro primary industry

Healthcare & Medical Office Brokerage (BPAJABAF)

akta.pro secondary industries

Healthcare & Medical Office Tenant Representation (BPAJALAF), Healthcare & Senior Housing Real Estate Asset Management (BPAJAMAH), Professional Practice Brokerage (Medical/Dental/Legal/Accounting) (FSAEAIAI)

Keywords

• Healthcare real estate
• Medical office leasing
• Practice site selection
• Commercial real estate brokerage
• Healthcare tenant representation

Headquarters

HQ city

Austin

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Commission on Lease Transactions: The company is paid a commission by the landlord when a lease is signed. This is standard in commercial real estate and means clients get expert representation without any upfront fees.
2. Commission on Purchase Transactions: The company earns a commission from the seller when a property is purchased, providing buyer representation services at no direct cost to the client.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

Practice Real Estate Group is a healthcare-focused commercial real estate brokerage that provides leasing, purchasing, custom development, and data-driven site selection services exclusively for healthcare practices. The company guides doctors and healthcare groups through market research, demographic and competitive analysis, site selection, and lease/purchase negotiations, and connects them to healthcare-experienced industry partners such as attorneys, bankers, architects, and construction firms.

Product overview

Practice Real Estate Group operates as a unified healthcare real estate platform offering brokerage services through multiple integrated offerings. The core service is comprehensive healthcare real estate brokerage (leasing, purchasing, custom development, site selection, demographics analysis) supplemented by the Medical Office Space Listings platform for property discovery, the Practice Rent and Expense Calculator for financial estimation, and the Practice Transitions Group sub-brand for practice sales. These offerings work together to guide healthcare professionals from initial location search through practice transitions.

Differentiator

Problem solved

Functional benefit

Products and services

• Healthcare Real Estate Brokerage Services Comprehensive tenant and buyer representation for healthcare practices covering leasing, purchasing, custom development, data-driven site selection, demographic and competitive research, and growth planning. The service is provided at no direct cost to clients and is delivered by a team of brokers, agents, project managers, and analysts serving healthcare practices nationwide.
• Medical Office Space Listings Online property discovery platform listing selected medical office spaces available for sale or lease, with filtering by location, space type, and transaction type, covering Texas markets including Austin, Dallas Fort Worth, Houston, and San Antonio.
• Practice Rent and Expense Calculator Interactive four-question estimator tool that generates customized PDF estimates for monthly rent, property expenses, build-out loan payments, and purchasing budget equivalents based on market size, space type, and square footage inputs.
• Practice Transitions Group Wholly-owned brokerage arm that helps healthcare practice owners sell their businesses and navigate practice transitions, extending Practice Real Estate Group's services into practice exits and sales alongside real estate location services.

Quantifiable outcome

• 1,000+ healthcare practices served across the country
• +4 more outcomes

Named customers10 records

Segments7 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Practice Transitions GroupcoreStrategic or Co-development PartnerAffiliated company founded by Thomas Allen after seeing opportunity to apply same real estate approach to help clients sell their businesses. Practice Transitions Group handles practice brokerage and sales transitions, extending PRG's service offerings into practice exits and sales alongside the real estate location services.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Flagship Healthcare Properties: Flagship Healthcare Properties is a healthcare-focused real estate firm providing brokerage, management, and development services. It competes with PRG in medical office leasing, acquisitions, and custom development.
• Pacific Medical Realty: Pacific Medical Realty is a healthcare-specialized commercial real estate firm providing brokerage services to medical practices. It is a regional direct peer in model and customer type, comparable to PRG's tenant and buyer representation work.
• Hammes Partners: Hammes is a healthcare-focused real estate consulting and development firm providing strategy, planning, and project execution for medical facilities. It is comparable to PRG on the strategic, planning, and custom development dimensions.
• NexCore Group: NexCore Group is a national healthcare real estate developer focused on medical office and outpatient facilities. It overlaps with PRG on the development and acquisition side of healthcare real estate.
• MedProperties Realty Advisors: MedProperties Realty Advisors specializes in medical office buildings, providing brokerage, acquisitions, and development services. It directly competes with PRG in healthcare-specific tenant representation and investment sales.
• CARR: CARR is a national healthcare commercial real estate brokerage providing tenant and buyer representation, similar to PRG. It is the closest direct peer, focused on helping healthcare professionals with site selection, lease, and purchase transactions across the U.S.
• Anchor Health Properties: Anchor Health Properties is a national healthcare real estate firm focused exclusively on medical office development, acquisitions, and asset management. It overlaps with PRG's custom development and acquisition services for healthcare clients.

Broad incumbents

• CBRE Healthcare: CBRE operates a global healthcare real estate practice as part of its broader commercial real estate platform. It is comparable to PRG on healthcare tenant representation and investment sales, but as a much larger, full-service incumbent with capital markets capabilities PRG lacks.
• JLL Healthcare: JLL's healthcare practice provides brokerage, project management, and capital markets services to healthcare clients globally. It competes with PRG on healthcare office leasing and advisory, though within a much broader diversified platform.
• Healthcare Realty Trust: Healthcare Realty Trust is a publicly traded healthcare REIT that owns and leases medical office buildings, operating as a landlord rather than a tenant-rep broker. It is comparable to PRG in that it operates in the healthcare real estate ecosystem, but on the principal/landlord side rather than the advisory side.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/practice-real-estate-group
• Facebookfacebook.com/PracticeRealEstateGroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Practice Real Estate Group