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Stock Market & Financial Investment News

News Breaks
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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April 9, 2015
08:56 EDTGPTGramercy Property Trust 8.5M share Spot Secondary priced at $27.75
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06:07 EDTGPTGramercy Property Trust 7M share Spot Secondary; price range $27.25-$28.05
BofA/Merrill, Morgan Stanley, RBC Capital and JPMorgan are acting as joint book running managers for the offering.
April 8, 2015
16:05 EDTGPTGramercy Property Trust files to sell 7M shares of common stock
The Company intends to use the net proceeds from the offering to repay outstanding borrowings under its revolving credit facility, which is generally used to fund real estate acquisitions, including properties currently under contract or letter of intent. BofA Merrill Lynch, Morgan Stanley, RBC Capital Markets and J.P. Morgan are acting as joint book-running managers for the offering.
April 7, 2015
16:36 EDTGPTNYC says Gramercy Property Trust liable for NYC DOF Transfer Tax Assessment
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April 6, 2015
08:33 EDTGPTGramercy Property Trust acquires two properties for $26.9M
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