Highland Ventures Completes Sale of Heartland Veterinary Partners Portfolio
Highland Ventures has recently announced a significant transaction involving the successful sale of its Heartland Veterinary Partners Net Lease Portfolio. This substantial portfolio encompasses 18 individual veterinary clinic properties strategically located across multiple states.
Details of the Transaction
Facilitated by JLL Capital Markets, the sale was a remarkable reflection of Highland Ventures' Legacy Commercial Property division's capabilities. As a leader in convenience retail, Legacy Commercial Property proudly manages over 700 properties nationwide.
Portfolio Highlights and Impact
The recently sold portfolio boasts an impressive total of 101,942 square feet and includes properties in states such as Florida, Georgia, Illinois, Indiana, Louisiana, Missouri, North Carolina, Tennessee, Texas, and Wisconsin. Each of these properties is fully leased to Heartland Veterinary Partners, which operates over 300 locations throughout the country and is recognized as a prominent private equity-backed veterinary support organization.
Investor Interest
This sale attracted considerable attention from a diverse spectrum of capital sources, including healthcare-focused investors, institutional net lease buyers, and private capital investors. The sustained demand for the portfolio can be attributed to its geographic diversification, stable long-term tenancy, and the growing resilience of the veterinary services sector.
Feedback from Key Stakeholders
Ben Hoogland, Vice President of Highland Ventures, expressed his enthusiasm regarding the success of this large-scale transaction. He noted, "We’re excited to complete a transaction of this scale with a partner like JLL. Our continued focus is on scaling Highland's Legacy Commercial Property platform as we advance our position as the leader in convenience retail."
Kirby Hayes, Senior Director at JLL Capital Markets, echoed these sentiments, stating, "Highland Ventures was a thoughtful and collaborative partner throughout this process. The portfolio's institutional quality and strong tenancy drove competitive interest across multiple buyer profiles."
About Highland Ventures
Headquartered in Nashville, Highland Ventures is a fourth-generation family-owned business dedicated to expanding and evolving retail brands intertwined with their real estate endeavors. With an emphasis on disciplined ownership, Highland Ventures seeks to establish long-lasting value through trusted relationships.
The company's operational portfolio extends across various brands, reflecting its dynamic business strategy. Legacy Commercial Property remains at the forefront as the national leader in convenience retail, managing a substantial portfolio. Additionally, the Hoogland Restaurant Group stands as the largest franchisee of Marcos Pizza, with over 120 locations under its management. Moreover, Intune Physical Therapy exemplifies Highland's commitment to quality healthcare, delivering personalized patient care through its growing physical therapy platform.
Media Inquiries
For media inquiries, please contact Rich Palumbo.
Frequently Asked Questions
What was the recent sale by Highland Ventures?
Highland Ventures completed the sale of its Heartland Veterinary Partners Net Lease Portfolio, consisting of 18 veterinary clinic properties.
Who managed the transaction?
The transaction was managed by JLL Capital Markets for Highland Ventures and its Legacy Commercial Property division.
Where are the properties located?
The properties are located across multiple states including Florida, Georgia, and Illinois among others.
Who are the tenants of the properties?
All properties are leased to Heartland Veterinary Partners, a significant player in the veterinary service industry.
What is Highland Ventures' core focus?
Highland Ventures focuses on scaling retail businesses associated with their real estate, striving for long-term value creation.
