Gramercy Property Trust Inc. (GPT)

[Enterprising Investor]

Gramercy Property Trust Announces Pricing of Upsized Public Offering of 52,000,000 Shares of Common Stock (12/11/14)

NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today the pricing of the public offering of 52,000,000 shares of its common stock at a public offering price of $5.90 per share. In addition, the underwriters of the offering have a 30-day option to purchase up to an additional 7,800,000 shares of the Company’s common stock. The offering was upsized from the previously announced offering of 45,000,000 shares. The offering is subject to customary closing conditions and is expected to close on December 16, 2014.

The Company intends to use a portion of the net proceeds of the offering to repay outstanding borrowings under its revolving credit facility, to fund a portion of the cash purchase price for the previously announced acquisition of a portfolio of twelve properties, and to fund the cash purchase price for the other ten properties it currently has under contract to acquire.

Morgan Stanley, BofA Merrill Lynch, J.P. Morgan and RBC Capital Markets are acting as joint book-running managers for the offering. JMP Securities, Ladenburg Thalmann, Piper Jaffray, SunTrust Robinson Humphrey, Compass Point, BNY Mellon Capital Markets, LLC, Huntington Investment Company and CJS Securities are acting as co-managers.

The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (“SEC”). The offering is being made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained by contacting: Morgan Stanley & Co. LLC, 180 Varick Street, New York, New York 10014, Attention: Prospectus Department, telephone: [phone]; BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attention: Prospectus Department, email: [e-mail]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by calling 1-866-803-9204; or RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, New York 10281, Attention: Equity Capital Markets, telephone: [phone], email: [e-mail]. These documents will also be filed with the SEC and will be available at the SEC’s website at http://www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities, nor shall there be any sale of these securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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 a commercial real estate asset and property management business for third parties.

http://www.businesswire.com/news/home/20141211005138/en/Gramercy-Property-Trust-Announces-Pricing-Upsized-Public#.VIpzw4luiUk