Thomas Park Investments today announced it has entered into a programmatic joint venture with a global health care real estate investment trust (REIT).
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.
Three assets have been purchased under the joint venture, including 8300 Health Park, 8322 Bellona Ave, and 2 Princess Road.
