Rubenstein Partners Acquires Mezzanine Position in 53-Building National Suburban Office Portfolio Sponsored by Workspace Property Trust

Rubenstein holds minority mezz piece within the financing stack of largely single-tenant, net leased portfolio

PHILADELPHIA, Feb. 21, 2023 /PRNewswire/ — An affiliate of Rubenstein Partners, L.P. has acquired a portion of the mezzanine tranche of the debt financing for one of 2022’s largest U.S. office property portfolio acquisitions.

Last summer, Workspace Property Trust recapitalized a 53 suburban office building portfolio in markets throughout the United States for a total of $1.1 billion. Through the deal announced today, Rubenstein was able to acquire a minority mezzanine piece in the capital stack.

The portfolio consists of approximately 7.6 million square feet of office space, currently about 84% leased through mostly single-tenant net lease deals. Major markets include Atlanta, Dallas and Charlotte.

“We continue to seek out what we believe are strong risk adjusted opportunities to deploy capital in the U.S. office market,” said Stephen Card, Director of Acquisitions for Rubenstein. “In this case our experience as a lender, equity owner and operator throughout the U.S. enabled us to analyze and understand the value of this portfolio and the sponsor’s plans for the properties, supporting the mezzanine investment.”

About Rubenstein Partners

Rubenstein Partners is a Registered Investment Advisor and Fund Manager for a series of private equity funds focused on equity and debt office investments throughout the United States. The firm is vertically integrated and provides first-class investment services on behalf of its investor base, which consists of some of the nation’s preeminent public and private pension funds, university endowments and family offices. For more information, visit

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SOURCE Rubenstein Partners