Workspace Property Trust, a suburban office landlord headquartered in Boca Raton, FL, announced on Wednesday that it had modified and extended its approximately $1.3-billion CMBS facility. The company secured a two-year extension for loans supported by its nearly 10 million square feet of 146 suburban office and light industrial, R&D and flex industrial properties located in 14 major metropolitan markets across the US. In addition to this portfolio, Workspace also owns an additional nine million Class A square feet of commercial office space spread over 59 properties throughout the country.
Thomas A. Rizk – co-founder and CEO of Workspace – commented: “Getting this deal done during what many have described as one of the most challenging real estate markets in decades was no small feat; it is testament to both our portfolio’s underlying strength as well as the resilience demonstrated by our national platform.” Iron Hound Management Company LLC acted as financial advisor for Workspace during this process. 25500 Norterra Pkwy., Phoenix (pictured) is among some of their notable assets included within their expansive portfolio .
