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Philadelphia Office

Liberty Property Unloads Horsham Portfolio for $245M

Workspace Property Trust, a partnership of Rizk Ventures, Forum Partners, JMP Group and EverWatch Capital, acquired a 2.4M SF office portfolio in Horsham from Liberty Property Trust for more than $245M.

All together, 41 properties traded hands in the deal, most of which are 100k SF or smaller (pictured: the 63k SF 220 Gibraltar Rd, one of the buildings). Liberty has been selling assets lately that it deems not part of its core portfolio, thus exiting certain suburban markets, the Philadelphia Business Journal reports. JPMorgan Chase Bank financed the deal. [PBJ]

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