Thomas Park Investments Acquires Two-Building Medical Office Portfolio on the MedStar Montgomery Medical Campus
- 7 hours ago
- 2 min read
TPI Purchased from MedStar Health Through New Programmatic Joint Venture
Thomas Park Investments, LLC announced the acquisition of two on-campus medical office buildings totaling 127,868 square feet on the MedStar Montgomery Medical Campus in Olney, Maryland. Thomas Park acquired the portfolio, known as the Olney 2-Pack, through a newly formed programmatic joint venture. MedStar Health was the Seller of the properties.
The two assets are located on one of the Washington, D.C. metropolitan area’s leading hospital-anchored medical campuses, the MedStar Montgomery Medical Center. This campus is a full-service community hospital providing a wide range of inpatient and outpatient services to Montgomery County and surrounding communities.
The portfolio comprises two buildings totaling 127,868 square feet. Building I, located at 18111 Prince Phillip Drive, spans 70,645 SF and was originally constructed in 1974 and comprehensively renovated in 2000. Building II, located at 18109 Prince Phillip Drive, comprises 57,223 SF and was purpose-built in 2000. Both assets are situated directly on the hospital campus, providing patients and physicians with immediate access to the full continuum of care offered by MedStar Montgomery Medical Center.
The transaction was carried out within a new programmatic joint venture, reflecting Thomas Park’s ability to deliver accretive returns through its investment strategy and its continued focus on acquiring institutional-quality medical buildings affiliated with leading health systems. The Olney portfolio adds regional scale to the firm’s growing medical office platform and further demonstrates its ability to attract best-in-class institutional co-investment partners.
“The best medical outpatient investments are the ones where great real estate and great patient care come together, and that is exactly what the Olney campus represents. This transaction marks the beginning of what we fully expect to be a long and growing relationship with MedStar. We look forward to being a trusted real estate partner as they continue to expand access to exceptional patient care throughout the region.”
About Thomas Park Investments
Thomas Park Investments, LLC is a healthcare-focused commercial real estate investment firm. With a disciplined approach to acquisitions and asset management, the firm invests in and manages medical outpatient buildings across the East Coast, representing approximately $300 million in assets under management.
TPI is supported by Thomas Park Holdings’ integrated CRE platform, aligning capital, operations, and people to drive measurable value across the assets and businesses it owns and operates.
