Workspace Property Trust, a recently formed REIT focused on suburban office properties, postponed its IPO on Tuesday. It had filed to raise $527 million by offering 39 million shares at a price range of $12 to $15.
The Horsham, PA-based company was founded in 2015 and booked $153 million in sales for the 12 months ended June 30, 2017. It had planned to list on the NYSE under the symbol WSPT. Goldman Sachs, J.P. Morgan, BofA Merrill Lynch, KeyBanc Capital Markets, Barclays, Citi, BMO Capital Markets, Capital One Securities and JMP Securities were set to be the joint bookrunners on the deal.
