Gramercy Property Trust (GPT) Raises Quarterly Dividend 10% to $0.22; 3.4% Yield
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Gramercy Property Trust (GPT) Closes Sale-Leaseback Agreement with Life Time Fitness; Updates Outlook
June 11, 2015 8:34 AM EDTGramercy Property Trust (NYSE: GPT) announced that it closed on a 20-year sale leaseback transaction with Life Time Fitness Inc. to acquire a portfolio of ten, large-format, high-end fitness centers for an aggregate purchase price of approximately $300.5 million. The portfolio totals approximately 1.3 million square feet located in major markets across the United States. For the combined portfolio, Year 1 net operating income is anticipated to be approximately $19.5 million (6.5% initial cash cap rate; 7.5% annualized straight-line cap rate).
The... More
Gramercy Property Trust (GPT) Acquires Two Orlando, Fla., Properties in $15.9M Deal
June 10, 2015 8:52 AM EDTGramercy Property Trust (NYSE: GPT) announced that it closed on the acquisition of a portfolio of two adjacent single-tenant industrial properties totaling approximately 235,000 square feet on 23.8 acres located in Orlando, Florida. The properties are 100% leased with a weighted average lease term of approximately 5.5... More
