In a Q&A, Alex Kopicki, chief investment officer, discusses the firm’s growth, prospects
By John B. Mugford
Annapolis-based Thomas Park Investments (TPI) recently acquired a complex of two medical office buildings (MOBs) with a combined 124,213 square feet in Southboro, Mass. The price was $17.62 million, according to RevistaMed data. (Photo courtesy of TPI)
Annapolis-based Thomas Park Investments (TPI) grabbed a headline in HREI last week, as the 2-1/2-year-old investment firm focused on healthcare real estate (HRE) facilities acquired a complex of two medical office buildings (MOBs) with a combined 124,213 square feet in Southboro, Mass.
Information from data firm Revista indicates the price was $17.62 million, or about $142 per square foot (PSF), for the facilities at 24 and 32 Newton St. that are anchored by Worcester, Mass.-based Reliant Medical Group, which has 20 locations, and Worcester-based UMass Memorial Health.
According to a news release from the firm, the “off-market” transaction “involved a complex and strategic approach, showcasing Thomas Park Investments’ expertise in navigating challenging real estate deals with multiple stakeholders.” It also noted that during the due diligence process, Thomas Park “renegotiated a 97,000 square foot lease extension with Reliant Medical Group, solidifying the property’s stability and the investment’s long-term value proposition.”
In that same news release, Alex Kopicki, the chief investment officer and one of three principles along with founder and CEO EJ Rumpke as well as Gene Parker, the chief operating officer, said the purchase of the complex was
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