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Workspace Property Trust withdraws plans for IPO

Workspace Property Trust filed a request to the SEC to withdraw its plans for an IPO.

In November 2017, the company postponed the offering, citing market conditions and suggesting that investor appetite for its suburban office and light-industrial portfolio was limited.

In requesting the withdrawal, Workspace said it could conduct a private offering in the future.

The company, which focuses mainly on office and flex real estate, had been targeting net proceeds of approximately $500 million, assuming the IPO had priced at the midpoint of its suggested per-share range of $12 to $15.