Workspace Property Trust, a suburban office landlord headquartered in Boca Raton, FL, announced Wednesday that it had modified and extended its approximately $1.3-billion CMBS facility. The two-year extension applies to loans supported by the company’s nearly 10 million square feet of 146 suburban office and light industrial, R&D and flex industrial properties located across 14 major metropolitan markets in the US. Additionally Workspace owns an additional nine million Class A square feet of commercial office portfolio spread over 59 properties nationwide.
Thomas A. Rizk – co-founder & CEO of Workspace – commented on this accomplishment: “Getting this deal done during what many have described as one of the most challenging real estate markets in decades is a testament to our portfolio’s underlying strength; along with the resilience displayed by suburban offices sector; plus our pipeline’s promise & capabilities provided through our vertically integrated national platform.” Iron Hound Management Company LLC acted as financial advisor for Workspace throughout this process . 25500 Norterra Pkwy., Phoenix (pictured) is part of their property trust portfolio .
