Workspace Closes on Liberty REIT Portfolio

Express Scripts’ headquarters in Bloomington, MN is the largest office property in the portfolio acquired from Liberty Property Trust.

HORSHAM, PA—Privately held Workspace Property Trust said Wednesday it had closed on its $969-million acquisition of 108 office and flex properties from Liberty Property Trust. The acquisition, first announced in late July, was made in partnership with Safanad and affiliates of Square Mile Capital Management.

Workspace CEO Thomas Rizk says the acquisition is “a key step in establishing our platform for investment in high quality suburban office properties in select markets.  The addition of Safanad, with its management in worldwide investments, and Square Mile, which along with its affiliates has approximately $15 billion of assets under management, provides the financial strength to continue building our portfolio.”