Gramercy Property Trust 40M share Secondary priced at $4.98 The deal size was increased to 40M shares from 34M shares. Morgan Stanley, BofA/Merrill and JPMorgan acted as joint book running managers for the offering.
Gramercy Property Trust says Moody's assigns company investment grade rating Gramercy Property Trust announced that Moody’s Investors Service has assigned the company’s operating partnership, GPT Property Trust LP, a Baa3 issuer rating with a stable outlook. Benjamin P. Harris, Gramercy’s President, stated, “Receiving an investment grade credit rating from Moody’s represents another significant milestone in Gramercy’s evolution as a best-in-class net-lease REIT. We believe the rating affirms the quality of the portfolio we have assembled over the last three years and will afford the Company additional financial flexibility as we continue to grow our business.”