Workspace Property Trust

General Information
Business:

Workspace Property Trust is a fully integrated real estate investment company primarily focused on acquiring, owning and operating high-quality office and flex real estate in prime locations within transit centric, amenity rich U.S. suburban office submarkets.We believe the U.S. suburban office market is under-represented in the public REIT space despite offering compelling risk-adjusted returns that are supported by recovering demand, limited new supply and an increasing demographic shift back to the suburbs. We intend to capitalize on this market opportunity by sourcing and executing accretive acquisitions and enhancing the value of our portfolio through proactive asset management. As a first step in executing on our strategy, we have assembled a strong portfolio of 148 properties, totaling 9.9 million rentable square feet, and, as of October 6, 2017, we have identified an acquisition pipeline of high-quality, well-located and attractively-priced suburban office and flex properties totaling more than 25.0 million square feet and with an estimated purchase price of approximately $4.0 billion based on management’s estimates of the market price for such square footage.

Industry: Workspace Property Trust
Employees: 70
Founded: 2015
Contact Information
Address 700 Dresher Road, Suite 150, Horsham, PA 19044, US
Phone Number (215) 328-2700
Web Address http://www.workspaceproperty.com
View Prospectus: Workspace Property Trust
Financial Information
Market Cap $1038.1mil
Revenues $152.7 mil (last 12 months)
Net Income $-60.0 mil (last 12 months)
IPO Profile
Symbol WSPT
Exchange NYSE
Shares (millions): 39.0
Price range $12.00 - $15.00
Est. $ Volume $526.5 mil
Manager / Joint Managers Goldman Sachs/ J.P. Morgan/ BofA Merrill Lynch
CO-Managers KeyBanc Capital Markets/ Barclays/ Citigroup/ BMO Capital Markets/ Capital One Securities/ JMP Securities
Expected To Trade:
Status: Postponed
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
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