Gramercy Property Trust Inc. (GPT)

[detearing]

In financial stocks news, Compass Point said Tuesday that it is raising its target price on self-managed real estate investment company Gramercy Property Trust Inc. (GPT:$5.76,00$0.13,002.31%) to $7.50 from $6.50 on growth prospects. The broker still has a buy recommendation on the stock.

[Enterprising Investor]

Our Best Investment Idea Is Starting To Pay Dividends - Gramercy Property Trust In MMXIII (12/24/13)

http://seekingalpha.com/article/1914481-our-best-investment-idea-is-starting-to-pay-dividends-gramercy-property-trust-in-mmxiii

[detearing]

GPT 3.68% to $5.64

NICE!

[detearing]

Gramercy Property Trust Announces Extended Asset Management Agreement With KBS And Acceleration Of $12.0 M Profit Participation Interest 12/20 05:30 AM




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12-20-130830ET
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Get more news on:SYMBOLS: GPTNEWS TYPE: SECTORS: Financials, Real Estate Management and Development

[Enterprising Investor]

Sold yesterday for a 49.3 percent gain.

Purchased 1/31/13.

Why did I sell? The investment converted from a distressed asset/turnaround play in 2013 to an income producer going forward. My hurdle rate is higher than any resulting dividend yield. The EI Recovery Fund has returned 53.65 YTD according to Fido (compares to 29.12 YTD for the S&P 500).

Disclaimer: Past results are not indicative of future results.

The funds are already destined for redeployment.

Investors who bought low seeking income will do well.

[detearing]

I called Investor Relations and she told me that no one can buy the preferred stock, not even them. So the $10+ dividend goes to who know who...

GPT commons will get a dividend starting first quarter 2014...amount TBD.

I like this in my portfolio and know for a fact with housing real estate recovering, the commercial real estate will also.

Will this ever get back to $37? Depends upon any dilution, of which I am uncertain. I do see upside though.

[Enterprising Investor]

Gramercy Property Trust Announces Resumption of Preferred Stock Dividend Payment – $10.24 per Preferred Share Accrued Dividend Plus $0.51 per Preferred Share Quarterly Dividend (12/11/13)

NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that its Board of Directors authorized, and the Company declared, a “catch-up” dividend in the amount of $10.23524 per share of the Company’s 8.125% Series A Cumulative Redeemable Preferred Stock (“Series A Preferred Stock”), representing all accrued and unpaid dividends on the Series A Preferred Stock for the period October 1, 2008, through and including October 14, 2013 (“Accrued Dividend”).

The Company also announced today that its Board of Directors authorized, and the Company declared, a Series A Preferred Stock quarterly dividend payment in the amount of $0.50781 per share, for the period October 15, 2013, through and including January 14, 2014 (“Quarterly Dividend”).

Both the Accrued Dividend and the Quarterly Dividend will be paid to holders of the Series A Preferred Stock of record as of the close of business on December 31, 2013. The Accrued Dividend will be paid on January 13, 2014. The Quarterly Dividend will be paid on January 15, 2014. It is anticipated that both dividend payments will be taxable to the recipients as ordinary income. The Company will report the final income determinations for tax on Form 1099-DIV and will post the same information on the Company’s website no later than January 31, 2014.

As previously announced, the Company expects to initiate payment of common stock dividends beginning with the first quarter of 2014. The record and payment dates for any future dividend payments will be announced as and when the same are determined by the Company’s Board of Directors.

Gordon F. DuGan, Chief Executive Officer, comments, “We are pleased to begin the timely payment of preferred dividends and catch-up on the accrued amount. We continue our rapid portfolio growth and are experiencing strong fundamental results from our portfolio. The repayment of the accrued dividends is a last step in the transformation of Gramercy into a leading industrial and office net lease REIT.”

About Gramercy Property Trust

Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates an asset management business that manages for third-parties, including our joint venture partners, commercial real estate assets throughout the United States primarily leased to financial institutions and affiliated users.

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/20131211005316/en/Gramercy-Property-Trust-Announces-Resumption-Preferred-Stock

[detearing]

Weekly stockcharts.com looking strong withd stairstep pattern and macd looking promising. $5.29 close could stay flat here for a couple months then pop to $5.8 area...

GPT is investing in more quality commercial real estate and looking to have good upside after economy recovers.

Ah yeah, almost forgot, this was over $30 just prior to the great recession.

[Enterprising Investor]

Gramercy Property Trust Announces $86.0 Million in Acquisitions and Secures $12.6 Million Senior Mortgage Financing (11/25/13)

NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that it has closed on six new properties in four separate transactions totaling approximately one million square feet, for a total purchase price of approximately $86.0 million. For the combined acquisitions, Year 1 net operating income is approximately $6.4 million (7.5% initial cap rate, 8.6% GAAP cap rate) with fixed rent escalations throughout the respective lease terms and a weighted average lease term of 11.6 years.

In addition, Gramercy assumed a $22.5 million mortgage at a fixed rate of 4.0% with 6.1 years remaining secured by one of the new acquisition properties.

Gramercy also closed a ten-year $12.6 million senior mortgage financing on its previously acquired 220,000 square foot cold storage and distribution facility located in Yuma, Arizona. The loan has a fixed interest rate of 5.15%.

About Gramercy Property Trust

Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates an asset management business that manages for third-parties, including our joint venture partners, commercial real estate assets throughout the United States primarily leased to financial institutions and affiliated users.

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/20131125005166/en/Gramercy-Property-Trust-Announces-86.0-Million-Acquisitions

[detearing]

I played this years ago and remember it can really pop quickly. I got in it a while back and it has taken longer than most, but here we are...about to break into blue skies.

[detearing]

I have been in for a while...l believe in commercial real estate will come back with restoration of FNMA FMCC.

[detearing]

Love it when l am right...

[PlanMaestro]

HI.

[56Chevy]

$5.25 is my next target...last close of $4.70

You got your wish today!

Gramercy Property Tr (GPT)
$5.25 up 0.35 (7.14%)
Volume: 3,204,754

[detearing]

12.85% up this week...a little tiny ensie weenie more and BLUE SKIES TO NEW HIGHS!

[Enterprising Investor]

Present. Just no news to report.

[detearing]

I guess l am the only one on this and she is starting to rise after a long wait...yes!

[detearing]

Up over 5% to $4.75....top of my watchlist...nice$

[detearing]

$5.25 is my next target...last close of $4.70

[detearing]

Gramercy Property Trust To Initiate Common-Stock Dividend in 1st Quarter 2014 >GPT 11/07 05:34 AM

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[detearing]

Gramercy Property Trust Inc. Reports Third Quarter 2013 Financial Results 11/07 05:30 AM

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NEW YORK--(BUSINESS WIRE)-- Gramercy Property Trust Inc. (GPT:$4.76,00$0.06,001.28%) :

HIGHLIGHTS

Recognized total revenues of $13.4 million and recorded a net loss to common stockholders of $1.3 million or $0.02 per diluted common share.
Generated positive funds from operations (“FFO”) of $2.7 million or $0.05 per diluted common share.
Reached important milestone of first positive quarterly adjusted funds from operations (“AFFO”) since change in business direction. Generated positive AFFO of $2.2 million or $0.04 per fully diluted common share.
Acquired four properties for a total purchase price of approximately $17.7 million (initial cap rate 7.1% and GAAP cap rate 7.5%) with an average lease term of 10 years. Subsequent to quarter end, acquired two additional properties for a total purchase price of approximately $27.3 million.
Closed on a $100.0 million senior secured revolving credit facility with Deutsche Bank AG New York for an initial term of two years with an option for a one-year extension.
Raised $47.4 million of gross proceeds through the private placement of approximately 11.5 million shares of common equity at a price of $4.11 per share. The private placement settled on October 7, 2013.
Announced intentions to satisfy and pay all accrued and unpaid preferred stock dividends, and resume timely payments of preferred stock dividend beginning with the dividend due for the fourth quarter of 2013.
Expects to initiate payment of common stock dividend beginning with the first quarter of 2014.
Ended the third quarter of 2013 with cash and cash equivalents of $28.7 million as compared to $49.0 million reported at the end of the prior quarter.
SUMMARY

Gramercy Property Trust Inc. (GPT:$4.76,00$0.06,001.28%) today reported a net loss to common stockholders of $1.3 million, or $0.02 per fully diluted common share for the three months ended September 30, 2013, and net income to common stockholders of $385.4 million, or $6.56 per fully diluted common share for the nine months ended September 30, 2013. For the quarter, FFO was $2.7 million, or $0.05 per fully diluted common share, and for the nine months ended September 30, 2013, FFO was $395.2 million, or $6.73 per fully diluted common share. For the quarter the Company generated AFFO of $2.2 million, or $0.04 per fully diluted common share, and for the nine months ended September 30, 2013, AFFO was $1.3 million, or $0.02 per fully diluted common share. A reconciliation of FFO and AFFO to net income available to common stockholders is included on page 9 of the press release.

As of September 30, 2013, the Company maintained $28.7 million of unrestricted cash as compared to approximately $49.0 million reported as of June 30, 2013. Subsequent to quarter end, the Company raised approximately $45.6 million in net proceeds through the private placement of approximately 11.5 million shares of common equity.

[Enterprising Investor]

Gramercy Property Trust Announces Acquisition of a $9.5 Million Industrial Facility in Austin, TX (10/23/13)

NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that it has closed the acquisition of an approximately 120,350 square foot industrial facility in Austin, Texas. The building is 100% leased through October 2028 to a leading provider of linen management services to the U.S. healthcare industry. Year 1 net operating income is approximately $717,000 (7.56% initial cap rate, 8.25% GAAP cap rate) with fixed rent escalations throughout the lease term. The facility was acquired all-cash for a purchase price of approximately $9.5 million.

About Gramercy Property Trust

Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates an asset management business that manages for third-parties, including our joint venture partners, commercial real estate assets throughout the United States primarily leased to financial institutions and affiliated users.

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/20131023005373/en/Gramercy-Property-Trust-Announces-Acquisition-9.5-Million

[detearing]

Looking like gpt getting some legs...$5 may be broken by end of year or sooner....this can move real fast...like it in my portolio.

[CatBirdSeat]

Other Preferred That May Do a GPT-A

Check out IMPHO and IMPHP for less than $3. Liquidation preference of $25 unchanged. There's a group discussing them on the iHub IMPHO board.

[Enterprising Investor]

Gramercy Property Trust Announces Acquisition of a $17.85 Million Cold Storage Facility in Arizona (10/09/13)

NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that it has closed the acquisition of an approximately 220,000 square foot food-grade cold storage and distribution facility located in Yuma, Arizona. Yuma County boasts the longest growing season in the country and is where 90% of the nation’s leafy vegetables are grown from November through March. The building is 100% leased through September 2033 to the leading organic food company in North America. Year 1 net operating income is approximately $1.4 million (8.0% initial cap rate, 9.25% GAAP cap rate) with fixed annual rent escalations throughout the lease term. The facility was acquired all-cash in a sale leaseback transaction.

About Gramercy Property Trust

Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates an asset management business that manages for third-parties, including our joint venture partners, commercial real estate assets throughout the United States primarily leased to financial institutions and affiliated users.

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.

Forward-looking Information

This press release contains forward-looking information based upon the Company's current best judgment and expectations. Actual results could vary from those presented herein. The risks and uncertainties associated with forward-looking information in this release include, but are not limited to, factors that are beyond the Company's control, including the factors listed in the Company's Annual Report on Form 10-K and in the Company's Quarterly Reports on Form 10-Q. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For further information, please refer to the Company's filings with the SEC.

Contacts

Gramercy Property Trust Inc.
Jon W. Clark, 212-297-1000
Chief Financial Officer
or
Emily Pai, 212-297-1000
Investor Relations

http://www.businesswire.com/news/home/20131009005257/en/Gramercy-Property-Trust-Announces-Acquisition-17.85-Million

[Enterprising Investor]

Investor Conference Call (10/07/13)

http://www.media-server.com/m/p/unztc7ch

[Enterprising Investor]

Business Plan Update (10/07/13)

http://files.shareholder.com/downloads/GKK/2721853937x0x695124/59ab9ca9-4da6-4fa6-ad3f-09e90d313b7e/GPT%2010-07-2013%208K%20Deck%20vFinal.pdf

[detearing]

Gramercy Property Trust Raises $47.4 Million in Equity Private Placement, Identifies a $130 Million Investment Pipeline and Announces Intention to Reinstate Preferred Dividend
Investor Conference Call to be Held on October 7, 2013 at 4:30 PM EDT 10/07 05:30 AM

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NEW YORK--(BUSINESS WIRE)-- Gramercy Property Trust Inc. (GPT:$4.34,00$0.30,007.43%) , a real estate investment trust, today announced that along with its $47.4 million equity raise that it has an identified $130 million investment pipeline. Additionally, the Company intends to resume timely payments of dividends on the Company’s Series A cumulative redeemable preferred stock, beginning with the dividend due for the fourth quarter of 2013. Additional details on the Company’s investment pipeline will be available in the investor presentation that will be posted prior to the call on the Company’s website, www.gptreit.com. In connection therewith, the Company intends to satisfy and pay all accrued but unpaid preferred stock dividends for prior periods. The Company also announced its intention to initiate payment of common stock dividends during 2014. The record and payment dates for all Company dividend payments will be made as and when the same are determined by the Company’s board of directors.

As previously announced, on October 4, 2013, the Company executed definitive agreements for a private placement of 11,535,200 shares of common equity (the “Private Placement”) at a price of $4.11 per share, raising gross proceeds of $47.4 million. Investors in the Private Placement received one Contingent Value Right (“CVR”) per common share, entitling the CVR holder to a limited downside protection in the form of a one-time cash payment (not to exceed $0.46 per share) in the event the Company’s volume weighted average share price for the ten trading day period ending March 25, 2014 (“Lock-Up End Date”) is less than $4.11 per share. The Private Placement investors have agreed not to sell the common shares that they receive in the Private Placement or the related CVRs prior to the Lock-Up End Date.

The Company anticipates closing the Private Placement later today. The Company’s financial advisor and placement agent for the Private Placement was Morgan Stanley & Co. LLC. The Company’s counsel for the Private Placement was Morgan, Lewis & Bockius LLP.

The Company intends to use the net proceeds from the Private Placement for the acquisition of its investment pipeline, payoff of preferred accrual and general corporate purposes.

Gordon F. DuGan, Chief Executive Officer, commented, “We believe that this equity raise at market pricing is very strategic for Gramercy as we will be able to use these proceeds and our existing liquidity to acquire an attractive pipeline of $130 million of investment opportunities as well as payoff the existing preferred dividend accrual. As such, the proceeds from this offering will allow us to have an increased FFO and common dividend paying ability for 2014 while maintaining additional financial flexibility. Gramercy’s momentum continues to build as we have become a leading industrial and office net lease REIT.”

The Company's executive management team will host an investor conference call and audio webcast this afternoon, Monday, October 7, 2013, at 4:30 PM EDT.

The live call will be webcast in listen-only mode on Gramercy’s website at www.gptreit.com and on Thomson’s StreetEvents Network. The presentation may also be accessed by dialing [phone] - Domestic or [phone] - International, using confirmation code “GRAMERCY.”

A replay of the call will be available from October 7, 2013 at 7:00 PM EDT through October 10, 2013 at 11:59 PM EDT by dialing [phone] - Domestic or [phone] - International, using pass code 3585 4886#.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities. The securities sold in this private offering have not yet been registered under the Securities Act of 1933

[detearing]

Anyone think this will get some legs? I am disappointed in this one...

[Enterprising Investor]

Form 8-K:

http://www.sec.gov/Archives/edgar/data/1287701/000114420413054074/v356751_8k.htm

[Enterprising Investor]

Gramercy Property Trust Raises $47.4 Million via Private Placement of Common Equity (10/04/13)

NEW YORK, Oct 04, 2013 (BUSINESS WIRE) -- Gramercy Property Trust Inc., a real estate investment trust, announced today that is has executed definitive agreements for a private placement of 11,535,200 shares of common equity (the "Private Placement") at a price of $4.11 per share. The Private Placement raised gross proceeds of $47.4 million. Investors in the Private Placement received one Contingent Value Right ("CVR") per common share, which entitles the CVR holder to limited downside protection in the form of a one-time cash payment (not to exceed $0.46 per share) in the event the Company's volume weighted average share price for the ten trading day period ending March 25, 2014 ("Lock-Up End Date") is less than $4.11 per share. The Private Placement investors have agreed not to sell the common shares that they receive in the Private Placement or the related CVRs prior to the Lock-Up End Date.

The Company anticipates closing the Private Placement on or about October 7, 2013.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities. The securities sold in this private offering have not yet been registered under the Securities Act of 1933, as amended, or any state securities laws. Therefore, they may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.

About Gramercy Property Trust

Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates an asset management business that manages for third-parties, including our joint venture partners, commercial real estate assets throughout the United States primarily leased to financial institutions and affiliated users.

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.

(GKK-EN)

Forward-looking Information

This press release contains forward-looking information based upon the Company's current best judgment and expectations. Actual results could vary from those presented herein. The risks and uncertainties associated with forward-looking information in this release include, but are not limited to, factors that are beyond the Company's control, including the factors listed in the Company's Annual Report on Form 10-K and in the Company's Quarterly Reports on Form 10-Q. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For further information, please refer to the Company's filings with the SEC.

SOURCE: Gramercy Property Trust Inc.

http://www.marketwatch.com/story/gramercy-property-trust-raises-474-million-via-private-placement-of-common-equity-2013-10-04?reflink=MW_news_stmp

[Enterprising Investor]

Gramercy Property Trust Inc Announces $20 Million in Acquisitions (9/09/13)

Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that it has closed on five new acquisitions for a total purchase price of approximately $20.8 million. The properties were acquired in separate all-cash transactions.

The acquired properties included two industrial acquisitions - a 133,000 square foot bulk warehouse located in Atlanta, Georgia in the I-20 West submarket, that is 100% leased through April 2023 to a leading pulp and paper company and a two-property industrial portfolio totaling 83,000 square feet located in Manassas, Virginia, that is 100% leased through December 2024 to a subsidiary of a leading document storage company. The total purchase price for the industrial properties was approximately $12.9 million equating to a 7.8% cap rate on GAAP NOI.

Gramercy also closed on three bank branch acquisitions 100% leased to large financial institutions. The properties include a 42,000 square foot office and retail bank branch located in Morristown, New Jersey leased to two financial institutions with leases running through September 2024 (71% of the facility) and October 2018 (29% of the facility) and branches located in Myrtle Beach, North Carolina, that is 100% leased through December 2018, and Allentown, Pennsylvania, that is 100% leased through February 2019. The total purchase price for the three bank properties was approximately $7.1 million, equating to a 7.9% cap rate on GAAP NOI. All three branch properties were previously part of portfolios managed by Gramercy.

Gordon F. DuGan, Chief Executive Officer, commented, “Our acquisitions team continues to find high quality, one-off industrial acquisitions with attractive tenancy, term and yield in our target markets. We have also been able to repeatedly draw upon our competitive advantage in owning and managing financial institution real estate to source high-quality bank branch assets at attractive yields. These acquisitions represent additional building blocks in the construction of a market-leading net lease portfolio.”

[Enterprising Investor]

Gramercy Property Trust Closes $100 Million Credit Facility (9/05/13)

Accordion Feature Allows Capacity Increase to $150 Million

NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that the Company’s operating partnership, GPT Property Trust LP, entered into a $100 million senior secured revolving credit facility (the “Credit Facility”) with Deutsche Bank AG New York Branch (“Deutsche Bank”). The Credit Facility has an initial term of two years with an option for a one-year extension and includes a $50 million accordion feature allowing Gramercy to increase borrowing capacity to $150 million, subject to certain approvals.

Advances under the Credit Facility will incur interest at a floating rate equal to LIBOR plus a spread between 190 and 275 basis points depending upon the Company’s overall leverage ratio. The Credit Facility will have an initial borrowing rate of LIBOR plus 190 basis points. The Credit Facility is guaranteed by Gramercy Property Trust Inc. and certain subsidiaries and is secured by first priority mortgages on designated properties that make up the borrowing base (the “Borrowing Base”) as defined under the agreement. Availability under the Credit Facility is permitted up to 60% of the value of the Borrowing Base.

Gordon F. DuGan, Chief Executive Officer, commented, “This is an important step for Gramercy, providing additional liquidity and enhancing financing flexibility to execute our business plan. We are excited to be working with Deutsche Bank and look forward to a long and successful relationship.”

About Gramercy Property Trust

Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing office and industrial properties net leased to high quality tenants in major markets throughout the United States. The Company also operates an asset management business that manages for third-parties, including our joint venture partners, commercial real estate assets throughout the United States primarily leased to financial institutions and affiliated users.

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/20130905005323/en/Gramercy-Property-Trust-Closes-100-Million-Credit

[renaudandco]

....sweet terms, kudos to management here after several weeks of bitching and moaning by me....

[renaudandco]

....there, that's better ....

[renaudandco]

....losing shareholder confidence daily, this becomes nearly I possible to rebuild with institutions....

[renaudandco]

....this drop is all Gordon....I've no problem praising a man when he does a job well and the flip side is ill call a spade a spade....you've been around too long to know you can't let shareholders twist in the wind when you're trying to build institutional support sir....

[renaudandco]

....while not likely a big deal in the grand scheme of things i am disappointed that management touted a new credit facility to be closed early this quarter and now heading in to the second half it remains unseen....a minor misstep but a misstep all the same, and the sort of thing that leads to slow steady selling until it gets delivered....

[Country Lawyer]

Appreciate your sentiments Matt, but I HAVE been waiting for 5 years and that I'd say is a long term outlook. I have sold half of the prf A position and taken it as capital gain. Prudence rather than valour? I told myself I would be patient, but 5 years . . . I can only hope that as you indicated the credit facility facilitates handling long past obligations. It has to help the common share price too. There is just so long that the deferral can go on. A point: Is our "prfA elected BOD" member alive, let alone aggressivily representing our interests? Don't get me wrong, I still have a lot of common so I am tied to the future of the company. Plan . . . a voice from the past. Glad you are still kicking too.

[PlanMaestro]

Thanks Matt

[renaudandco]

....the call was pretty straightforward, most q2 deals closed in the latter part of the q, they feel comfortable in being able to close as many deals in future quarters in the near term as they did in q 2....sounds as if the credit facility is imminent....dividends to c and p are the goal but nothing new under the sun as far as when....its possible they may make the preferred holders whole with the credit facility if continuing to accrue it would be an impediment to piling up more deals but i think they plan to do nothing but find, close and build cash flows until theyre nearly forced to pay divys....this is terrific news if you have a long term horizon, if your timeframe is short this may be a disappointing couple of quarters....all just my opinion and interpretation....

[Country Lawyer]

At least I got the large tax provision issue answered. It still seems that, although better, the company's financials are still a complicated puzzle. CDO intersts still seem very much a moving target. An Upbeat, but "give us some more time" type call?

[Country Lawyer]

I did check the balance sheet and to me it looks like if they did pay out what they owe that the cash left to "deploy" would be the mid-teens millions number. I do not know how low DuGan is willing to let the cash level decline--one would think they would want some level of a cash reserve. You might be correct on the perf divy catch up if they get a credit facility--in fact, it might be a requirement to get the size line they are looking for. I still hope/think that they will have to get right with the perf holders in order to grow the company past about where they are and preserve credibility for investors. Dilution would also not please me at this point since unless there is a really outstanding deal in the wings, the price to existing holders would be higher than it need be. I'd feel better about a secondary issue if the common stock was at 8 or 9! As you said DuGan has been faithful to his word so far. Yes, I want to see his future GPT come in to its own, and yes, he has pulled off some great deals to put the company into a better position, but the albatross of those accrued divs has to be handled. Once they are out of the way I think we will then see a more clear picture of the future. Common will not move out of the trading range as I see it until those issues are resolved. Must we wait until November? 2014? ...2016? Maybe we'll get a better feeling half hour from now.

[detearing]

Gramercy Property Trust Inc. Reports Second Quarter 2013 Financial Results 08/06 05:30 AM

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NEW YORK--(BUSINESS WIRE)-- Gramercy Property Trust Inc. (GPT:$4.55,00$-0.09,00-1.94%) :

QUARTERLY HIGHLIGHTS

Recognized total revenues of $16.3 million and recorded a net loss to common stockholders of $6.7 million or $0.11 per diluted common share.
Generated negative funds from operations, or FFO, of $3.5 million or $0.06 per diluted common share.
Generated adjusted funds from operations, or AFFO, of $0.0 million or $0.00 per fully diluted common share.
Acquired 11 properties for a total purchase price of approximately $111.2 million with an average lease term of 15 years.
Sold the defeased mortgage and corresponding pool of pledged treasury securities in the Bank of America Joint Venture, generating net cash proceeds of $1.8 million to the Company and eliminating future interest expense (or losses) related to the defeased mortgage.
Reduced management, general and administrative expenses, or MG&A, to $4.3 million for the quarter from $4.4 million from the prior quarter. MG&A was $9.3 million for the same quarter of the prior year.
Recognized $5.4 million of incentive fees based upon the value of the KBS Portfolio at quarter end.
Recorded an impairment to write-down the carrying value of retained CDO bonds by approximately $1.0 million to $7.6 million.
Ended the second quarter of 2013 with cash and cash equivalents of $49.0 million as compared to $100.5 million reported at the end of the prior quarter.
SUMMARY

Gramercy Property Trust Inc. (GPT:$4.55,00$-0.09,00-1.94%) today reported a net loss to common stockholders of $6.7 million, or $0.11 per fully diluted common share, and for the six months ended June 30, 2013, net income to common stockholders of $386.7 million, or $6.59 per fully diluted common share. For the quarter, FFO was negative $3.5 million, or $0.06 per fully diluted common share, and for the six months ended June 30, 2013, FFO was $392.5 million, or $6.69 per fully diluted common share. For the quarter the Company generated AFFO of $0.0 million, or $0.00 per fully diluted common share, and for the six months ended June 30, 2013, AFFO was negative $0.9 million, or $0.01 per fully diluted common share. A reconciliation of FFO and AFFO to net income available to common stockholders is included on page 9 of the press release.

As of June 30, 2013, the Company maintained $49.0 million of unrestricted cash as compared to approximately $100.5 million reported as of March 31, 2013. Subsequent to quarter end, the Company received approximately $4.7 million of its outstanding servicing advances receivable in cash.

MG&A expenses were $4.3 million for the quarter ended June 30, 2013 as compared to $4.4 million in the prior quarter and $9.3 million in the same quarter of the prior year. Decreases in MG&A expenses are primarily attributable to reductions in salary and employee benefit costs and reduced professional fees due in large part to the reduced complexity of the Company’s business subsequent to the disposal of the commercial real estate finance business. In addition, the Company has expensed a total of $0.7 million, or $0.01 per fully diluted common share, and $1.2 million, or $0.02 per fully diluted common share for the three and six months ended June 30, 2013, respectively, related to acquisition costs.

In the second quarter of 2013, the Company recorded an impairment to write-down the carrying value of its retained CDO bonds to approximately $7.6 million from the prior quarter’s carrying value of $8.6 million. The reduction in carrying value is primarily attributable changes in expected cash flows available to the Company’s bonds related to a 50-basis point increase in the forward LIBOR curve, and adjustment made to extend the maturity and otherwise delay the resolution date of two large assets contained within the CDO collateral.

Gordon F. DuGan, Chief Executive Officer, commented, “The direction and momentum of the Company is very exciting and is a testament to the hard work of the entire team here at Gramercy. We continue to outpace our expectations, closing 11 discrete acquisitions in the second quarter. I am especially pleased with the results of our differentiated net lease investment strategy and our ability to find attractive investments that meet our strict underwriting standards. Our Asset Management platform continues to be a source of profits and acquisition opportunities. As we move forward, I am more confident than ever that we are creating a best-in-class, next generation net lease REIT that will grow and continue to be a significant factor in the net lease industry.”

[renaudandco]

....without seeing the actual 8k and just the PR i do not think the preferred arrears are in the cash number....they lost money in the quarter....i think gordon is spot on when he continues to withold the dividend....spend tens of millions of dollars in cash and that money is gone forever, spend that tens of millions of dollars in cash on nnn properties and the cash flow is permanent and the asset grows in value over time....the dividends could possibly be paid when they announce a large line of credit assuming all other available cash is deployed and their revenue streams are large enough to pay the bill....so far gordon has delivered on everything promised to shareholders and i think you'll get a bit more clarity on the call....it will be disappointing however if they do not deliver on the credit facility they promised early Q3 (from the presentation just 3 weeks ago) today or before 8-15-13....also, i was wondering who the seeking alpha article was referencing when they said the Q2 revenue handily beat estimates, who has published estimates?

[Country Lawyer]

Also took quick gander. Revenue is revenue, it's the earnings that I am not real happy about. And also still no divy news. I understand that the accountants work their magic to lower income, but quick question--or maybe I am missing something, but if you have a large loss, why the large provisions for taxes? Further, I have to look again to see if the ~$49m left is with or without making provisions for the perf divs. If without, that only leaves mid-teens millions to deploy which can be done in one deal . . . then what? Sigh.

[renaudandco]

....havent had a chance to look other than a glance but that 16.3 million in revenue is bigger than I expected....

[detearing]

OK THIS BOARD IS DEAD BUT EARNINGS OUT SOON AND I WANNA KNOW WHY THIS TANKED WHEN PRETTY MUCH ALL OTHER STOCKS SOARD...THIS STOCK INVESTS IN BIG COMMERCIAL REAL ESTATE AND PRICES ARE RISING... Anyone know if they still tied to Hilton Hotel Casino?

[Country Lawyer]

Glad to see this board is still alive. A quiet summer overall, but after near 5 years waiting it would be nice to see the Perf caught up. Yes, new management has accomplished quite a turn around and gives good prospects for the future. Great job keeping us in the loop. A move in August would be nice, especially if the rest of the market goes on vacation. Concur. This is looking more and more like a "continue to hold long term" -- For us old guys, what a refreshing change! As to 20 . . . I am not holding my breath on that one--a little too optimistic I'd say but you would not catch me carping. Paying the accrued divy has got to be their next big step forward.

[renaudandco]

....an 85K share trade in the preferred in the PREMARKET is a tad unusual....doesn't it make sense that if there is a large credit facility to be announced (sec filing says targeting early Q3), and new deals coming on board at a faster than expected clip (faster than I expected anyway) that part of any credit facility would be used to true up the preferreds?....also, they have done a terrific job in communicating with investors, not just as deals come in but with investor updates-- my favorite part is where they are projuecting not only cash flow from the completed deals bit also for those still in the pipeline (those where a LOI has been signed anyway)....id be very interested to see numbers that show potential cash flow from any cash deployed from a large credit facility....