Oct, 31

Thomas Park Investments Announces Joint Venture with Public REIT

Three assets purchased to date with $500 million of future acquisition capacity

 ANNAPOLIS, Md. (October 31, 2022) – Thomas Park Investments today announced it has entered into a programmatic joint venture with a global health care real estate investment trust (REIT).

“Advancing this joint venture aligns Thomas Park with a market-leading health care REIT,” says Thomas Park, CEO EJ Rumpke. “This further validates Thomas Park as an emerging manager in the healthcare real estate space.”

The joint venture:

  • Broadens Thomas Park’s investment strategy to territories beyond the mid-Atlantic and Northeast.
  • Allows Thomas Park to offer tax-advantaged purchases for sellers willing to consider an umbrella partnership real estate investment trust (UPREIT) structure.
  • Allows Thomas Park to be an even more nimble buyer with all cash purchases.
  • Allows the REIT to access Thomas Park’s pipeline of off-market opportunities.
  • Allows the REIT to have a partner that can soundly execute on both value-add and core plus business strategies.

“In today’s choppy capital markets, it’s great to have a partner who sees beyond near-term static and looks toward long-term value creation,” says Thomas Park CIO Alex Kopicki.  “We believe in the long-term value of the medical office space and its ability to continue to produce resilient returns.”

Three assets have been purchased under the joint venture, including 8300 Health Park,  8322 Bellona Ave, and 2 Princess Road.