JV Launches Quest for $500M in MOBs with $40M Initial Acquisitions
Annapolis, MD-based Thomas Park Investments has formed a joint venture with Chevy Chase, MD-based Artemis Real Estate Partners to acquire a $500-million portfolio of healthcare real estate.
The venture will seek core plus medical office buildings throughout the mid-Atlantic and Northeast. The venture kicked off with the $40-million acquisition of medical office real estate across three buildings in dense, affluent areas with positive demographic outlooks:
A fully leased, 31,000-square-foot medical office in Baltimore, MD on Frederick Road. Thomas Park identified this sale-leaseback off market.
A fully leased 31,000 square-foot medical office building in Columbia, MD on Little Patuxent Parkway. Thomas Park purchased this asset off market.
A fully leased A 30,000-square-foot multi-tenant medical office building in Princeton, NJ on Bunn Drive.
“The medical office market has been resilient throughout the pandemic and will grow as healthcare continues its shift away from inpatient care,” says Alex Kopicki, Thomas Park’s chief investment officer.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.