U.S. Veterinary REIT
- Company typePrivate
- Founded2021
- HeadquartersChicago, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
U.S. Veterinary REIT firmographics
Firmographics- Name
- U.S. Veterinary REIT
- Legal name
- U.S. Veterinary REIT
- Website
- https://usvreit.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
U.S. Veterinary REIT industry classification
Industry- Product category
- Veterinary Real Estate Investment Trust
- NAICS
- Trusts, Estates, and Agency Accounts (52592)
- SIC
- Real Estate Investment Trusts (6798), Lessors Of Real Property, Nec (6519)
- akta.pro primary industry
- REITs & Listed Real Estate Securities (FSAAAKAD)
Keywords
Where U.S. Veterinary REIT is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
U.S. Veterinary REIT business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Others, Infrastructure
Revenue model
- Rental Income: The REIT collects rental income from veterinary practices that lease properties in its portfolio. Properties are triple net leased, with tenants responsible for property taxes, maintenance, and insurance while the REIT handles overall ownership and rent collection.
- Dividend Distributions: The REIT distributes a minimum of 90% of all taxable income to shareholders in the form of quarterly dividends, as required by REIT tax status.
- Portfolio Value Appreciation: Long-term capital appreciation through strategic consolidation of veterinary real estate assets, with exit strategies including public listing, recapitalization, or outright sale of the portfolio.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Quarterly | REIT equity units (common units) in operating partnership offered to property owners in exchange for veterinary real estate assets |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels3 records
U.S. Veterinary REIT product offering
Product offeringCore offering
U.S. Veterinary REIT is a private real estate investment trust that acquires and manages veterinary real estate properties from practice owners and veterinarians. Property owners can exchange their real estate equity for common units in the REIT's operating partnership, receive cash, or a combination; the REIT extinguishes existing mortgages at closing, assumes property management and rent collection, and distributes a minimum of 90% of taxable income to shareholders as quarterly dividends.
Product overview
U.S. Veterinary REIT is a single, unified Real Estate Investment Trust product focused exclusively on veterinary real estate. The REIT partners with veterinary property owners to exchange ownership equity for common units or cash in the operating partnership, then manages the properties, collects rents, and distributes at least 90% of taxable income as quarterly dividends to shareholders. The company was formed in 2021 by Thurston Group and AMO Partners and operates as part of a portfolio strategy targeting market-leading veterinary facilities across the United States.
Differentiator
Problem solved
Functional benefit
Products and services
- U.S. Veterinary REIT A private real estate investment trust that acquires and manages veterinary real estate properties, allowing veterinary property owners to exchange real estate equity for common units (or cash) in the REIT's operating partnership. The REIT extinguishes existing mortgage debt at closing, assumes property management and rent collection responsibilities, and distributes a minimum of 90% of taxable income as quarterly dividends to shareholders.
Quantifiable outcome
- 90% of taxable income distributed to shareholders as quarterly dividends
- +2 more outcomes
Companies that use U.S. Veterinary REIT
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
U.S. Veterinary REIT technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
U.S. Veterinary REIT partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- National Dental Healthcare REITcoreNational Dental Healthcare REIT completed integration of its sister company U.S. Veterinary REIT as part of strategic transactions in 2025. Both REITs operate under the Thurston Group umbrella. Dallas Margeson works on acquisitions teams for both National Dental Healthcare REIT and U.S. Veterinary REIT.
- AMO PartnerscoreAMO Partners is a Chicago-based real estate investment platform that co-formed U.S. Veterinary REIT with Thurston Group in 2021. Justin VanBlaricom and Brian Semel serve as Principals at both U.S. Veterinary REIT and AMO Partners. Josh Sternberg also serves on the acquisitions team for both entities.
- North Grove Real Estate CapitalminorNorth Grove Real Estate Capital is a sub-institutional investment platform targeting niche industries. Michael Crandall manages North Grove Real Estate Capital alongside his role at U.S. Veterinary REIT and AMO Partners. Justin VanBlaricom is also a Principal at North Grove Real Estate Capital.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
U.S. Veterinary REIT competitors and assessment
Company assessmentEmerging players
- Getty Realty Corp: Small-cap specialty net lease REIT focused on convenience and automotive properties. Comparable in size, niche specialization thesis, and triple-net lease model, illustrating the strategic model for small specialty REITs.
Broad incumbents
- CareTrust REIT: Healthcare REIT primarily focused on skilled nursing and seniors housing real estate. Operates a similar thesis of consolidating fragmented healthcare real estate through triple-net leases with operator tenants, with comparable size and growth profile.
- Welltower: Largest U.S. healthcare REIT focused on senior housing and outpatient medical real estate. Highly relevant as the dominant incumbent healthcare REIT against which specialty operators like U.S. Veterinary REIT benchmark their positioning and capital markets access.
- Sabra Health Care REIT: Specialty healthcare REIT focused on skilled nursing, senior housing, and behavioral health real estate. Comparable in its specialization in narrower healthcare real estate niches and its use of operator-level underwriting, though at significantly larger scale than U.S. Veterinary REIT.
- Healthpeak Properties: Diversified healthcare REIT across outpatient medical, life science, and CCRC assets. Operates a similar triple-net lease model targeting healthcare provider tenants; relevant as a broader incumbent shaping acquisition competition in healthcare real estate.
- Medical Properties Trust: Specialty healthcare REIT owning acute care and post-acute hospital real estate globally. Comparable in healthcare niche consolidation and triple-net lease economics, though it operates in a different sub-sector.
- Global Medical REIT: Small-cap publicly-traded medical office building REIT. Comparable in portfolio construction through single-tenant net lease acquisitions targeting healthcare providers, and similar small-cap scale; serves as a useful proxy valuation benchmark for a specialty healthcare REIT.
- Healthcare Realty Trust: Large publicly-traded healthcare REIT owning medical office buildings and outpatient facilities across the U.S. Comparable in healthcare-adjacent real estate consolidation model and triple-net lease economics, though it operates at much greater scale across a broader healthcare property footprint.
Direct peers
- National Dental Healthcare REIT: Sister company under the Thurston Group umbrella, formed in 2020 to consolidate dental practice real estate. Directly comparable in operating partnership exchange structure, triple-net lease model, and acquisition strategy; U.S. Veterinary REIT was integrated into NDH REIT in 2025.
Others
- Northwood Investors: Private real estate investment firm focused on niche property sectors. Comparable as a niche-sector real estate consolidator in structure, though operating at larger scale and across multiple asset classes.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
U.S. Veterinary REIT social profiles
Digital presenceU.S. Veterinary REIT financial estimates
Financial estimateRevenue estimate
Valuation estimate
U.S. Veterinary REIT leadership team
Management profileNumber of profiles
Profiles9 records
U.S. Veterinary REIT funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
U.S. Veterinary REIT M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about U.S. Veterinary REIT
What does U.S. Veterinary REIT do?
U.S. Veterinary REIT is a private real estate investment trust that acquires and manages veterinary real estate properties from practice owners and veterinarians. Property owners can exchange their real estate equity for common units in the REIT's operating partnership, receive cash, or a combination; the REIT extinguishes existing mortgages at closing, assumes property management and rent collection, and distributes a minimum of 90% of taxable income to shareholders as quarterly dividends.
Is U.S. Veterinary REIT a public or private company?
U.S. Veterinary REIT is a private company. It is classified as private equity controlled and is currently operating.
When was U.S. Veterinary REIT founded?
U.S. Veterinary REIT was founded in 2021. It employs 11 to 50 people.
Where is U.S. Veterinary REIT based?
U.S. Veterinary REIT is headquartered in Chicago, United States, in the North America region.
How does U.S. Veterinary REIT make money?
Three revenue lines are on record. Rental Income is the primary driver. The others are dividend Distributions and portfolio Value Appreciation.
Who are U.S. Veterinary REIT's main competitors?
Getty Realty Corp is listed as an emerging player. Broad incumbents are CareTrust REIT, Welltower, Sabra Health Care REIT, Healthpeak Properties, Medical Properties Trust, Global Medical REIT and Healthcare Realty Trust. National Dental Healthcare REIT is listed as a direct peer. Northwood Investors is listed as an others.
Does U.S. Veterinary REIT have an API?
No public API is recorded for U.S. Veterinary REIT.
What industry is U.S. Veterinary REIT in?
U.S. Veterinary REIT's product category is Veterinary Real Estate Investment Trust. Its primary akta.pro industry code is FSAAAKAD, REITs & Listed Real Estate Securities. Its NAICS code is 52592 and its SIC code is 6798.