Private equity-backed Workplace Property Trust buys $1.1 bln in suburban office space: WSJ

Workplace Property Trust is teaming up with Singapore’s GIC Pte Ltd. to acquire 53 U.S. suburban office properties valued at $1.1 billion, The Wall Street Journal reported on Monday. The deal comes less than a week after Oak Hill Advisors announced a $326.5 million investment in the company, which was founded in 2015 by Thomas A. Rizk and Roger W. Thomas and currently owns and operates 10 million square feet of suburban office and light industrial properties in locations including Tampa, Fla., Phoenix, Minneapolis and suburban Philadelphia. Other investors in Boca Raton, Fla.-based Workplace Property Trust include Safanad Inc., Forum Partners, JMP Group, Everwatch Capital, Mason Capital and funds managed by Rialto Capital Management LLC.