Thomas Park Investments Enters Boston Market with Haverhill Acquisition
- Jul 8, 2021
- 1 min read
Maryland-based healthcare real estate firm purchases Merrimack Medical Center
Annapolis, Maryland d., July 08, 2021––Thomas Park Investments (TPI) acquired its first greater Boston-area medical office building with the purchase of Merrimack Medical Center at 62 Brown Street in Haverhill, Massachusetts.
The 55,000-square-foot property is located on the campus of Holy Family Hospital, part of the Steward Health Care system. The building offers exceptional visibility and ample on-site parking and is conveniently located a half mile from downtown Haverhill and accessible from Exits 50 or 51 off I-495.
“We have an extensive capital improvement plan to invest back into this property and attract more high-quality tenants,” says EJ Rumpke, TPI’s chief executive officer. “We want tenants who will support the major health needs of the community.”
TPI bought the property from Healthpeak Properties, a publicly traded real estate investment trust (REIT). Echo Development Group, a Chicago-based real estate investment and development firm, is a partner in the acquisition. The acquisition is part of a larger TPI strategy to purchase medical office buildings in the Amtrak Acela Corridor that spans from Richmond to Boston.
“Our relationship-centric approach focuses on assets that allow patients convenient access to care,” says Alex Kopicki, TPI’s chief investment officer. “We intend for this to be the first of many acquisitions in the area.”
