GIC, Workspace Property Trust buying majority stake in 53 suburban office buildings

NEW YORK, NY, UNITED STATES, September 7, 2022 / — Forum is pleased to share this announcement from our partners at Workspace Property Trust. A consortium led by Thomas A. Rizk and Roger W. Thomas, founders, Workspace Property Trust (“Workspace”) today announced it has acquired approximately eight million square feet across 53 Class A suburban office buildings on 41 separate properties in high-growth markets across the country from Griffin Realty Trust, Inc. (“GRT”), establishing itself as the preeminent national suburban office and light industrial company in the US. The $1.132 billion transaction, when combined with the existing Workspace portfolio, nearly doubles the size of the company’s holdings to 18 million square feet with 200 buildings in 22 major metropolitan markets in the US. Equity capital is being provided by one of the world’s largest global investors. GRT will retain a minority ownership in the portfolio. J.P. Morgan and Bank of Montreal (BMO) provided senior debt financing.

“When we joined Tom Rizk and his team in the initial funding of Workspace Property Trust seven years ago, our shared vision was to create a nationwide, full-integrated owner and manager of first-class, suburban office and flex properties. The acquisition of the GRT portfolio is a further important step in fulfilling that vision, bringing our company the critical mass necessary to provide flexible solutions to leading corporate tenants from coast to coast”, said Russell Platt, CEO of Forum Partners.

As combined, Workspace will own and operate suburban office buildings in 14 of the top 20 US metropolitan areas, including Atlanta, Philadelphia, Dallas, Charlotte, Tampa, Phoenix, Silicon Valley, South Florida, Houston, Portland, Seattle, Minneapolis, Chicago and St. Louis. Approximately 40% of the Fortune 500 have headquarters in Workspace markets and nearly seven million square feet of the Workspace portfolio is leased by companies comprising the Fortune 1000.

Workspace Property Trust

Workspace Property Trust is a privately held, vertically integrated, full service commercial real estate company specializing in the ownership, management, leasing and development of office and light industrial space across the US. Founded in 2015, as combined Workspace owns and operates approximately 18 million square feet of suburban office and light industrial properties in markets across the country, including 14 of the top 20 US metropolitan areas. For more information on Workspace, please visit

Forum Partners

Forum Partners is a global private equity firm and investment manager focused exclusively on investing in and alongside best in class sector-focused real estate companies. Established in 2002, Forum is headquartered in London with regional offices in Hong Kong, Sydney, Australia, New York, New York, Palm Beach, FL and Santa Fe, New Mexico. Forum was founded on the belief that a successful real estate investment takes more than just great real estate; it requires an experienced and proven management team along with the alignment of interests among all key stakeholders.

Renee Farmer
Forum Partners
+1 813-789-6942
email us here

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