Continuing our work with veterinary practice owners nationwide, the National Veterinary Law Group at Mandelbaum Barrett PC advised three co-owners in the successful sale of their multi-doctor practice in New York to a corporate buyer. This transaction was notable for its dual structure: while the practice ownership was transferred, the sellers retained the real estate and entered into a long-term lease with the buyer—allowing them to preserve investment value in the property while also achieving a clean financial exit from the practice itself.
The matter was led by Partners Peter Tanella, Esq., Joshua Gorsky, Esq., and Associate Eileen Funnell, Esq., with support from Paralegals Lindsey Priolo and Kara Cobb.
The practice was owned by three long-standing co-owners who had built it into a respected cornerstone of their community. As part of the transaction, the corporate buyer agreed to lease the real estate facility from the sellers, ensuring the owners retained long-term property value while monetizing the practice. In addition, the sale proceeds were used to satisfy and retire an existing bank loan secured against the practice and property, leaving lien-free assets and a clean financial outcome for all parties.
Our team collaborated closely with the client’s broker, coordinated the legal due diligence, and secured the necessary payoff documents from the bank. We also advised the sellers on employment transition matters to protect continuity of care for patients and staff, while ensuring the transaction was aligned with the co-owners’ long-term strategic goals.
This successful transaction underscores the strength of our Veterinary Law Group in guiding practice owners through complex sales, from structuring lease arrangements to resolving financing obligations, all while preserving the legacy of the practice and achieving optimal outcomes for our clients.
Learn more about our National Veterinary Law Group here.
These stories are successful case results from our attorneys. Please note that results may vary depending on your particular facts and legal circumstances.