US property veterans invest in Pennsylvania portfolio

摘要

A new US-based commercial property investment firm, led by industry veterans Thomas Rizk, Roger Thomas and Howard Sipzner, has bought a major portfolio for around $245.3m(£163.6m). Workspace Property Trust (WPT) has purchased 41 office and flex buildings in Horsham, Pennsylvania, from Liberty Property Trust, in what is the first real estate transaction for the business. The portfolio comprises 2.4m sq ft across a diverse range of assets in Horsham, which is located directly off the Pennsylvania Turnpike. The most heavily concentrated property type within the portfolio is 860,000 sq ft of multi-storey offices.