Workspace Property Trust acquired a majority stake in six class A suburban office buildings from Peakstone Realty Trust (NYSE:PKST) for approximately $170 million on December 27, 2022. Under the transaction, Workspace Property Trust purchased an additional one million square feet across six class A suburban office buildings located in suburban Chicago, Dallas, San Jose, Cincinnati and Greensboro for $170.4 million. Griffin Realty Trust will retain a minority ownership in the portfolio. UBS provided the debt financing. Newmark Group acted as advisor to Workspace on the debt financing. Seyfarth Shaw LLP and McCausland Keen + Buckman acted as legal advisor to Workspace.

Workspace Property Trust completed the acquisition of a majority stake in six class A suburban office buildings from Peakstone Realty Trust (NYSE:PKST) on December 27, 2022.