National Dental Healthcare REIT posts 'explosive' growth in 2022
National Dental Healthcare REIT, a Thurston Group portfolio company, has announced “explosive” growth in 2022, nearly doubling its size and holdings in its second full year of existence.
Formed in 2020, the Chicago-based Real Estate Investment Trust (REIT) in 2022 entered into new partnerships with dentists and specialists who own their own building at 74 locations in 10 states, thereby acquiring $87 million in real estate holdings. The dynamic company now manages a total portfolio of 125 locations in 13 states worth an estimated $160 million.
Patrick J. Haynes III, Thurston Group Chairman and CEO, said “our growth has been explosive – but not surprising, at least to us. The Thurston Group difference is our doctor-centric approach. We respect our dental professionals, put more power in their hands to shape their destiny, and partner with them to succeed together.”
Mr. Haynes said he expects the young company’s success to continue in 2023 and beyond, as they continue to recruit dentists and evaluate real estate opportunities in this underserved market.
The properties purchased match National Dental Healthcare REIT’s profile for modern, market-leading facilities with up-to-date technology, located where demographic trends indicate robust growth in the market.
“For dentists who own their building,” he said, “joining forces with National Dental Healthcare REIT is more than a real estate strategy. It’s a better way to build your future.”
The dental practice owner:
- has no more property management and administrative headaches.
- can focus on caring for their patients and growing their practice.
- will receive cash and ownership shares in a much broader portfolio for their dental real estate. This portfolio diversification puts them on more solid footing financially.
National Dental Healthcare REIT partners only with dental care providers in the general dental and specialty dental fields who own their real estate. Mr. Haynes said the ideal properties are market-leading facilities with updated technology while adhering to dental industry best practices and modern clinical theaters. They purchase assets located where demographic trends indicate robust growth in the market and complete fair appraisals on the value of the real estate. The diversity of National Dental Healthcare REIT’s portfolio varies by property type, location, tenants and lease terms.
“We balance our equity and debt to optimize our cost of capital that fits our long-term investment goals and drives return on future investment capital,” Mr. Haynes said.
About National Dental Healthcare REIT
National Dental Healthcare REIT partners with dental care providers in the general dental and specialty dental fields who own their real estate. This Real Estate Investment Trust (REIT) provides these dental property owners an attractive, tax-efficient sale structure with dividend income and the opportunity for appreciation, among other benefits, while removing the risk and hassle of property ownership. Based in Chicago, IL, the REIT has grown to have 125 properties under management in 13 states worth an estimated $160 million in 2½ years since its inception. For more information, please visit www.nationaldentalreit.com.
About Thurston Group
Thurston Group is a private equity firm that focuses on building industry-leading companies in the healthcare and related business services sectors. Thurston has an extensive track record of partnering with physicians and building fast-growing healthcare businesses, including Smile Doctors, US Endo Partners, US Oral Surgery Management, South Georgia Dental Management, Gen4 Dental Partners, ARC Health, Options Medical Weight Loss and U.S. Orthopaedic Partners. Overits 35-year history, Thurston Group has returned more than $4B of invested capital. For additional information about Thurston Group, please visit Thurston Group's website at www.thurstongroup.com.