Thomas Park Investments Launches $75 Million Value-Add Fund
Partners with insurance company to lead the investment vehicle
Thomas Park Investments today announced it has secured commitments for a $75 million value-add fund. The Fund, known as Thomas Park Growth Fund I, has the capacity to acquire $250 million of real estate.
The Fund targets value-add health care real estate acquisitions in the lower middle market space, notably real estate under $12 million in purchase price. The fund focuses on medical office buildings in select markets throughout the United States. The Fund recently completed its first closing, securing $40 million of the Fund’s $75 million target.
The initial closing included:
- The recapitalization of two medical office buildings located at 225 May Street in Edison, New Jersey and 1120 Township Line Road in Drexel Hill, Pennsylvania. Both assets were previously owned by Thomas Park.
- The acquisition of 20 Sunnybrook Road in Pottstown, Pennsylvania.
The Fund is on track to acquire another three assets this quarter, adding another $30 million of real estate to the existing portfolio.
“We continue to see compelling acquisition opportunity in the lower middle market space,” says Thomas Park CEO EJ Rumpke. “The Fund allows us to remain competitive and act efficiently in this distinctive sector of the market.”
Thomas Park continues to find compelling acquisition opportunities. The company is growing its capital network and with it, it’s vertically integrated platform.
“The Fund rounds out our capital strategy,” says Thomas Park CIO Alex Kopicki. “We now have a capital partner that fits just about every profile investment deal we feel compelled to pursue, from big to small and riskless to riskiest. If we have conviction in a specific opportunity, we can execute. That’s critical in today’s environment, as sellers want surety of close.”