Workspace Property Trust, a privately-held suburban office and industrial company, reports that Oak Hill Advisors, an alternative investment firm with more than $50 billion in assets, has led a $326.5 million investment in the company.
Founded in 2015, Workspace owns and operates 10 million square feet of suburban office and light industrial properties in markets across the country including South Florida, Tampa, Phoenix, Minneapolis and two suburban Philadelphia markets.
"We believe Workspace is in a terrific position to expand geographically and satisfy the demand for affordable, accessible suburban office space," said Glenn August, founder and CEO of OHA in prepared remarks. "[Founders Thomas A. Rizk and Roger W. Thomas] have built an impressive company and we are excited to play a meaningful role in their growth going forward."
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