Thomas Park Holdings Acquires $70 Million Medical Office Portfolio Across Mid-Atlantic With Alex Kopicki Leading Deal

Thomas Park Holdings has acquired a four-property medical outpatient portfolio totaling approximately 165,637 square feet across Washington, D.C., Northern Virginia and Maryland's Eastern Shore for approximately $70 million. The transactions closed Aug. 12, 2026, the firm announced.

The portfolio is anchored by investment-grade health systems — MedStar Health, Johns Hopkins Medicine, Children's National Medical Center and Luminis Health — and carries a long weighted average lease term with contractual rent growth in place. Three of the four assets are 100% leased; the fourth was acquired at approximately 89% occupancy.

"This four-pack investment does exactly what we set out to do — it pairs our operational expertise and institutional capital with mission-critical outpatient facilities leased to the health systems that own their markets," said Alex Kopicki, Principal and Chief Investment Officer of Thomas Park Holdings. "MedStar, Johns Hopkins, Children's National and Luminis are not credit stories we have to explain to anyone. They are the systems patients in this region are already choosing. We look forward to supporting their operations and deepening our relationships."

Portfolio Overview and Pricing

At approximately $70 million for 165,637 square feet, the portfolio implies an average price of roughly $423 per square foot. The four assets span three distinct Mid-Atlantic submarkets: the Takoma neighborhood of Washington, D.C.; McLean, Virginia, where Thomas Park acquired two buildings; and Easton, Maryland, on the state's Mid-Shore.

National medical office vacancy has remained below 10%, and cap rates for institutional-quality, health-system-anchored medical office buildings have stabilized in the high-6% range in 2026. McLean, in particular, is characterized by limited medical office supply alongside durable healthcare demand driven by high household incomes and an aging population base.

Asset-by-Asset Breakdown

Children's National at Takoma Theatre — Washington, D.C.

Located at 6833 4th Street NW in the Takoma neighborhood of Washington, D.C., this 24,140-square-foot specialized outpatient medical facility was originally built in 1923 and comprehensively renovated in 2017. The property is 100% leased to Children's National Medical Center. The building's repositioning from a historic theater to a fully clinical outpatient setting reflects a broader trend of health systems seeking neighborhood-based care locations rather than traditional hospital campuses. Significant tenant investment and long-term occupancy are cited as key underwriting drivers.

MedStar Health Medical Center at McLean — McLean, Virginia

Situated at 1420 Beverly Road in McLean, this 47,185-square-foot medical office building is anchored by MedStar Health. Built in 1985 and renovated in 2022, the property is 100% clinically occupied and has benefited from substantial recent investment in both base building and tenant spaces. Transwestern's Mid-Atlantic Capital Markets team arranged the sale of this asset to Thomas Park. The McLean submarket is described as supply-constrained for medical office, with healthcare demand supported by the area's demographic profile.

6849 Old Dominion Drive — McLean, Virginia

The portfolio's largest asset, at 69,330 square feet, is located at 6849 Old Dominion Drive in McLean and is anchored by Johns Hopkins Medicine. Built in 1974 and renovated in 2022, the building was acquired at approximately 89% leased. The property is commonly marketed as McLean Gateway and houses a mix of specialty medical tenants including adult primary care, podiatry, infusion therapy, physical and occupational therapy, cosmetic surgery, dermatology and neurology — with approximately 58% of space in medical use at the time of sale. Thomas Park cited additional upside through targeted leasing and continued conversion to medical use.

Luminis Health Easton Pavilion — Easton, Maryland

Located at 28438 Marlboro Avenue in Easton, Maryland, this 24,982-square-foot Class A medical outpatient facility was purpose-built for Luminis Health in 2019. The property is 100% leased to the investment-grade health system with a long-duration lease term. Luminis Health maintains an established clinical presence across Maryland's Mid-Shore region, which Thomas Park cited as a key underwriting consideration.

Strategic Context for Thomas Park Holdings

The acquisition expands Thomas Park Holdings' healthcare real estate footprint into three distinct Mid-Atlantic submarkets and deepens the firm's relationships with regional health systems. Alex Kopicki, who serves as Principal and Chief Investment Officer, characterized the portfolio as consistent with the firm's stated strategy of pairing operational expertise and institutional capital with outpatient facilities leased to dominant regional health systems.

Thomas Park Holdings describes itself as a vertically integrated commercial real estate investment and operating platform. The four-property transaction adds health-system-anchored outpatient assets in supply-constrained suburban and urban submarkets, a segment of the medical office sector that has attracted sustained institutional capital as health systems continue shifting clinical volume away from hospital campuses and into community-based settings.

Sources

Thomas Park Investments — Official Announcement