Gramercy Capital Corp. Announces the Acquisition of a $27.125 Million Industrial Portfolio
27 Novembre 2012 - 11:17PM
Business Wire
Gramercy Capital Corp. (NYSE: GKK) closed on the
acquisition of a two-property, 540,000 square-foot industrial
portfolio (the “Portfolio”) located in the Indianapolis
metropolitan area, in an all-cash transaction for a purchase price
of approximately $27.125 million. The Portfolio is comprised of two
Class A industrial buildings, 100% leased to three tenants, with a
10.2-year weighted average lease term.
Gordon F. DuGan, Chief Executive Officer of Gramercy Capital
Corp., commented, “This is our first closing under the Company’s
new strategy and represents an important step in the transformation
of Gramercy into a premiere net lease investor focused on office
and industrial properties.” Mr. DuGan continued, “We are looking to
construct a portfolio of high quality assets that generate durable
sustainable cash flows for the benefit of our shareholders.”
Company Profile
Gramercy Capital Corp. is a self-managed, integrated commercial
real estate investment and asset management company. The Company’s
Gramercy Realty division currently manages approximately $1.9
billion of commercial properties leased primarily to regulated
financial institutions and affiliated users throughout the United
States. The Gramercy Finance division manages approximately $1.8
billion of whole loans, bridge loans, subordinate interests in
whole loans, mezzanine loans, preferred equity, commercial
mortgage-backed securities and other real estate securities which
are financed through three non-recourse CDOs. The Company is
headquartered in New York City and has regional investment and
portfolio management offices in Jenkintown, Pennsylvania,
Charlotte, North Carolina, and St. Louis, Missouri.
To review the Company’s latest news releases and other corporate
documents, please visit the Company's website at www.gkk.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 implementation of the new
business strategy, the integration of the new management team, the
results of the operational review and those 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.
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