{"id":1004563711,"date":"2022-01-13T05:40:57","date_gmt":"2022-01-13T13:40:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004563711"},"modified":"2022-12-08T09:46:59","modified_gmt":"2022-12-08T17:46:59","slug":"thomas-park-artemis-launch-500m-medical-office-jv","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/thomas-park-artemis-launch-500m-medical-office-jv\/","title":{"rendered":"Thomas Park, Artemis Launch $500M Medical Office JV"},"content":{"rendered":"
\"\"

910 Frederick Road Baltimore. Image courtesy of courtesy of Thomas Park Investments<\/p><\/div>\n

Thomas Park Investments<\/strong> and Artemis Real Estate Partners<\/strong> have formed a joint venture to amass a first-class portfolio of health-care real estate. Together, the partners plan to invest an estimated $500 million on the acquisition of core-plus assets in the medical office building sector.<\/p>\n

Thomas Park brings to the partnership proficiency in securing off-market transactions, which will prove valuable in the thriving and highly competitive medical office market.<\/a> Artemis is a respected investment manager, having raised over $6 billion since its founding in 2009.<\/p>\n

The partners have seeded the joint venture with the acquisition of three assets totaling 92,000 square feet for an aggregate of $40 million. In Baltimore, Thomas Park and Artemis acquired 910 Frederick Road, a 31,000-square-foot property that is fully leased to Orthopedic Associates of Central Maryland. The partners purchased the asset, developed in 2014, from the tenant in a sale-leaseback transaction. Just 20 miles from Baltimore in Columbia, Md., the joint venture also acquired the 31,000-square-foot MOB at 10840 Little Patuxent Parkway in an off-market transaction. Built in 1974 and renovated in 2019, the property is fully leased, with Johns Hopkins Medical Imaging serving as the anchor tenant.<\/p>\n

The joint venture completed its initial portfolio purchases with the addition of 800 Bunn Drive, a 30,000-square-foot MOB in Princeton, N.J. Like the other two properties, 800 Bunn is 100 percent leased. The multi-tenant building first opened its doors in 2010. EJ Rumpke, CEO of Thomas Park Investments described the three acquisitions as a “starting point for building a first-class portfolio along the East Coast.” The joint venture will focus its efforts on markets across the mid-Atlantic and Northeast.<\/p>\n

Joining the club<\/strong><\/h2>\n

Thomas Park and Artemis’s formation of a new MOB joint venture follows the establishment of a host of other partnerships in 2021 designed to do the exact same thing: capitalize on what appears to be a solid and seemingly recession-proof sector of health-care real estate. The ventures range from Chestnut Funds and Anchor Health Properties’ launch of Chestnut Healthcare Fund II<\/a>, a $100 million investment vehicle focused on the acquisition of MOBs and other related health-care real estate assets across the U.S. to Rendina Healthcare Real Estate and Artemis’s creation of a MOB joint venture<\/a> with the goal of growing a $1 billion portfolio.<\/p>\n

According to PwC and Urban Land Institute’s Emerging Trends in Real Estate report, only logistical hurdles hampered MOB deal volume during the darkest days of COVID-19 in 2020: “The resilience of the medical office sector through the COVID-19 pandemic and past economic downturns and the long-term favorable demand prospects for health-care services are expected to continue to attract investor attention in 2022 and through the long term.”<\/p>\n","protected":false},"excerpt":{"rendered":"

The partners will invest in MOBs throughout the mid-Atlantic and Northeast.<\/p>\n","protected":false},"author":969,"featured_media":1004563719,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22251,21754,11],"tags":[34570,51275],"class_list":["post-1004563711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-focus","category-medical-office","category-midatlantic","tag-artemis-real-estate-partners","tag-thomas-park-investments"],"acf":[],"yoast_head":"\nThomas Park, Artemis Launch $500M Medical Office JV - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Thomas Park Investments and Artemis Real Estate Partners will invest in MOBs throughout the mid-Atlantic and Northeast\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/thomas-park-artemis-launch-500m-medical-office-jv\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thomas Park, Artemis Launch $500M Medical Office JV\" \/>\n<meta property=\"og:description\" content=\"Thomas Park Investments and Artemis Real Estate Partners will invest in MOBs throughout the mid-Atlantic and Northeast\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/thomas-park-artemis-launch-500m-medical-office-jv\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-13T13:40:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T17:46:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/01\/910-Frederick-Road-Baltimore.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/thomas-park-artemis-launch-500m-medical-office-jv\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/thomas-park-artemis-launch-500m-medical-office-jv\/\",\"name\":\"Thomas Park, Artemis Launch $500M Medical Office JV - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/thomas-park-artemis-launch-500m-medical-office-jv\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/thomas-park-artemis-launch-500m-medical-office-jv\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/01\/910-Frederick-Road-Baltimore.jpg\",\"datePublished\":\"2022-01-13T13:40:57+00:00\",\"dateModified\":\"2022-12-08T17:46:59+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\"},\"description\":\"Thomas Park Investments and Artemis Real Estate Partners will invest in MOBs throughout the mid-Atlantic and Northeast\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/thomas-park-artemis-launch-500m-medical-office-jv\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/thomas-park-artemis-launch-500m-medical-office-jv\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/thomas-park-artemis-launch-500m-medical-office-jv\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/01\/910-Frederick-Road-Baltimore.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/01\/910-Frederick-Road-Baltimore.jpg\",\"width\":800,\"height\":620,\"caption\":\"910 Frederick Road Baltimore. 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