Workspace Property Trust, a recently formed REIT focused on suburban office properties, withdrew its plans for an initial public offering on Monday. 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 $186 million in sales for the 12 months ended September 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.
