Safanad Establishes Suburban Office Investment Platform Through Landmark USD 1.3 Billion Transaction

NEW YORK, Oct. 6, 2016

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This acquisition forms an integral part of the Safanad Suburban Office Partnership, a real estate investment platform totalling approximately 148 buildings across 4 U.S. states with over 10 million square feet of leasable space. The Partnership now manages over $1.3 billion dollars of assets, continuing on its strategic plan to build a portfolio of superior, well-positioned suburban real estate assets.

The portfolio boasts strong, consistent overall occupancy and financial performance. Workspace Property Trust, previously acquired 41 buildings in Horsham, Pennsylvania from Liberty Property Trust in 2015, which were simultaneously contributed by WPT to the Safanad Suburban Office Partnership, bringing the total market value of assets managed to over $1.3 billion.

Kamal Bahamdan, Chief Executive Officer and Founder of Safanad commented, "Safanad's approach to investing aligns very well with Workspace Property Trust's vision and strategic plan of building a strong overall portfolio in vibrant submarkets. We have great confidence that our partnership with Tom and Roger will create tremendous value in these suburban office markets."

The Safanad Suburban Office Partnership portfolio breakdown of assets is as follows:

						Square ARIVA.DE Börsen-Geflüster Kurse Liberty Property Trust -   0,00%					% Total
Market	Properties					Feet					Square Feet
Malvern / Chesterbrook, PA	30					2,075,764					21%
Horsham, PA	40					2,350,449					24%
Tampa, FL	34					1,799,568					18%
South Florida	11					1,135,410					11%
Minneapolis, MN	19					1,488,832					15%
Phoenix, AZ	14					1,078,652					11%
Total	148					9,928,675					100%

About Safanad

Safanad is a global principal investment firm that invests directly in real estate and private equity transactions. As principal-led investors, Safanad preserves and grows wealth through a disciplined, industry focused investment approach that builds relationships with exceptional management partners and top industry leaders. With offices in New York, Dubai and London, the firm seeks to identify global investment opportunities poised to deliver consistently attractive returns, where the firm's capital and investment expertise support value creation. For more information, please contact vpica@safanad.com (U.S. queries) or mfayad@safanad.com (non-U.S. queries).

About Workspace Property Trust

Workspace Property Trust is a privately held, vertically integrated, full service commercial real estate company specializing in the development, management, and operation of office and flex space. Workspace Property Trust is a partnership between Rizk Ventures, Forum Partners, JPM Group, EverWatch Capital, and with the closing of this transaction, Safanad. For more information, visit www.workspaceproperty.com