Oct
09
Liberty Property Trust Sells $969M Portfolio
ByWorkspace Property Trust, Safanad and Square Mile have acquired 108 flex and office buildings across five markets.
1 Country View Road, Malverne, Pa.
Philadelphia—Workspace Property Trust, a privately held commercial real estate company specializing in the development, management and operation of office and flex space, has completed the purchase of a nearly $1 billion portfolio from Liberty Property Trust.
The addition of 108 buildings and 26.7 acres of land in five markets across the United States is the second significant real estate transaction by WPT this year—and also the second involving Liberty, which has been selling off its non-core suburban assets. WPT’s partners in this acquisition, announced in late July, are global investment firm Safanad Ltd. and affiliates of Square Mile Capital, a New York-based real estate investment firm…
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