Gramercy Property Trust Inc. (GPT)

[Enterprising Investor]

Gramercy Property Trust Announces Acquisition of Three Industrial Properties for $28.1 Million (5/08/15)

NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that it closed on the acquisition of a portfolio of three single-tenant industrial properties totaling approximately 240,000 square feet for a purchase price of approximately $28.1 million (7.2% annualized straight-line cap rate).

The portfolio is 100% leased to a single tenant, a leading producer and fabricator of steel, with a weighted average lease term of approximately 8.5 years. The properties include (i) an approximately 110,000 square foot manufacturing facility located in Auburn, Washington (Seattle MSA); (ii) an approximately 70,000 square foot manufacturing facility located in San Bernardino, California (Inland Empire MSA); and (iii) an approximately 60,000 square foot manufacturing facility located in Fairfield, California (San Francisco MSA).

About Gramercy Property Trust

Gramercy Property Trust Inc. is a leading global investor and asset manager of commercial real estate. Gramercy specializes in acquiring and managing single-tenant, net-leased industrial and office properties purchased through sale-leaseback transactions or directly from property developers and owners. We focus on income producing properties leased to high quality tenants in major markets in the United States and Europe.

To review the Company’s latest news releases and other corporate documents, please visit the Company's website at www.gptreit.com or contact Investor Relations at 212-297-1000.

http://www.businesswire.com/news/home/20150508005319/en/Gramercy-Property-Trust-Announces-Acquisition-Industrial-Properties#.VUzXO4ktGUk