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.”