Gramercy Property Trust Puts Up $51.6M For 3 Properties

Law360, New York (January 7, 2014, 4:02 PM EST) -- New York-based Gramercy Property Trust Inc. said Tuesday that it ended 2013 by closing on three new industrial properties for a total of about $51.6 million, as part of a continued effort to build up its portfolio.

The real estate trust's acquisitions were made in two separate sale-leaseback transactions, and were structured with 15-year initial lease terms with fixed annual rent increases. The three properties comprise a combined 610,000 square feet. According to a Tuesday press release from Gramercy, the total net operating income for the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.