Thomas Park Investments has completed a first closing for its $75 million value-add vehicle, Thomas Park Growth Fund I.
The fund, which targets value-add healthcare real estate acquisitions in the lower middle-market space, has the capacity to acquire $250 million of real estate. It focuses on medical office buildings in select markets throughout the United States and seeks real estate under $12 million in purchase price.
The fund already has secured $40 million toward its $75 million target. The initial closing included the recapitalization of two medical office buildings in New Jersey and Pennsylvania, which were previously owned by Thomas Park, and the acquisition of a third property in Pottstown, Pa. Thomas Park said the fund is on track to acquire another three assets this quarter, adding another $30 million of real estate to the existing portfolio.
“The fund rounds out our capital strategy,” said Alex Kopicki, CIO of Thomas Park. “We now have a capit
