ANNAPOLIS, Md.--(BUSINESS WIRE)--Thomas Park Investments, a leading real estate healthcare investment firm, announces the successful acquisition of 24-32 Newton Street, a multi-tenant outpatient medical office facility spanning 125,000 square feet in Southboro, Massachusetts. The property is anchored by Reliant Medical Group, UMass Memorial, and Walgreens.
The acquisition of the outpatient medical facility involved a complex and strategic approach, showcasing Thomas Park Investments' expertise in navigating challenging real estate deals with multiple stakeholders. Key highlights of the transaction include:
- Strategic Off-Market Deal: Thomas Park Investments demonstrated its agility in identifying unique investment opportunities by sourcing this property as an off-market transaction, ensuring a competitive edge in the market.
- Renegotiation of Major Tenancy: During the due diligence process, Thomas Park successfully renegotiated a 97,000 SF lease extension with anchor tenant Reliant Medical Group solidifying the property’s stability and the investments long-term value proposition.
- Sustainability: In line with its responsible investment philosophy, Thomas Park Investments entered into a power agreement with the seller to benefit from the onsite and adjacent solar array, making the facility one of the most energy-efficient outpatient medical centers in the region.
Thomas Park Investments Chief Investment Officer, Alex Kopicki, shared his enthusiasm for the successful deal, stating, "The acquisition of 24-32 Newton Street was a dynamic, challenging, and rewarding journey. We were able to execute most of our business plan during the due diligence phase, which is always a great achievement and took a lot of effort from many team members. This strategic investment solidifies our ability to perform on any transaction within the healthcare clinical space no matter the size or complexity."
The outpatient medical office facility at 24-32 Newton Street is poised to serve the Southboro community with an extensive range of clinical offerings, providing top-notch healthcare services to the region.
About Thomas Park - Thomas Park is a full service commercial real estate firm offering alternative investment strategies and third party commercial real estate services. Thomas Park Investments (TPI) is one of the fastest growing private equity real estate investment firms on the East Coast, having grown AUM to $300 million in 2.5 years focused exclusively on healthcare real estate. Thomas Park Management (TPM) manages over 8.5 million SF of commercial space along the East Coast and has a 30+ year track record in the commercial real estate industry. For more information about Thomas Park, please visit www.thomas-park.com