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May 5, 2014
08:32 EDTGPTGramercy Property Trust acquires two industrial properties for $18.7M
Gramercy Property Trust announced that it acquired, in separate transactions, two industrial properties totaling approximately 295,000 square feet for a total purchase price of approximately $18.7M, net of approximately $285,000 of rent credit. Both properties are 100% leased with a weighted average lease term of approximately 13 years. Year 1 net operating income for the two properties totals approximately $1.4M. The first property is an approximately 112,000 square foot manufacturing facility located in Elgin, Illinois, which is leased through August 2028 with annual rent escalations to a global manufacturer of small, engineered metal components. The second property is an approximately 183,000 square foot industrial warehouse located in Harrisburg, Pennsylvania, which is leased through February 2025 with annual rent escalations to a subsidiary of a large multinational industrial company.
News For GPT From The Last 14 Days
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December 11, 2014
08:13 EDTGPTGramercy Property Trust 52M share Secondary priced at $5.90
The deal size was increased to 52M shares from 45M shares. Morgan Stanley, BofA/Merrill, JPMorgan and RBC Capital acted as joint book running managers for the offering.
December 9, 2014
16:37 EDTGPTGramercy Property Trust files to sell 45M shares of common stock
Morgan Stanley, BofA Merrill Lynch, J.P. Morgan and RBC Capital Markets are acting as joint book-running managers for the offering.
16:32 EDTGPTGramercy Property sees FY1 adj. FFO 45c-50c, may not compare with consensus (5c)
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16:25 EDTGPTGramercy Property Trust increases dividend 43% to 5c
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16:24 EDTGPTGramercy Property Trust to acquire $399M portfolio
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