Gramercy Property Trust

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Gramercy Property Trust Inc.
Public company
Traded as NYSEGPT
Industry Real estate investment trust
Founded March 2004; 13 years ago (2004-03)
Headquarters New York, New York
Key people
Charles E. Black, Chairman
Gordon F. DuGan, CEO[1]
Revenue Increase $0.517 billion (2016)[1]
Increase $0.033 billion (2016)[1]
Total assets Decrease $5.603 billion (2016)[1]
Total equity Decrease $2.752 billion (2016)[1]
Number of employees
96 (2016)[1]
Website www.gptreit.com

Gramercy Property Trust Inc. is a publicly traded real estate investment trust. As of December 31, 2016, the company owned 56.2 million aggregate rentable square feet, of which 68% was industrial properties and the remainder was office building and retail properties.[1]

History[edit]

The company was formed in March 2004 as Gramercy Capital Corp., a mortgage REIT.[1]

In July 2007, the company originated a $1.1 billion collateralized debt obligation.[2]

In 2008, the company acquired American Financial Realty Trust for $3.3 billion.[3][4] The company then sold 100 North Main Street for $36 million.[5]

In January 2013, the company began the liquidation of its collateralized debt obligation portfolio.[6]

In April 2013, the company changed its name to Gramercy Property Trust Inc.[7]

In June 2013, the company acquired a truck terminal in Elkridge, Maryland.[8]

In 2015, the company acquired 2.7 million-square-foot office and industrial portfolio for $398.6 million,[9] 5415 Centerpoint Parkway for $24.1 million[10] and a property leased to BAE Systems for $46.8 million.[11] The company also acquired Chambers Street Properties.[12]

In 2016, the company acquired the Specialty Bakery building in Indianapolis for $37 million[13] and a 17-property warehouse portfolio for $521 million.[14][15]

In 2017, the company acquired a property in North Carolina for $9.2 million,[16] a television studio for $18 million,[17] and the Opa Locka Hialeah Flea Market for $80 million.[18]

References[edit]

  1. ^ a b c d e f g h Gramercy Property Trust 2016 Form 10-K Annual Report
  2. ^ "Gramercy Capital Corp. Prices $1.1 Billion Commercial Real Estate CDO" (Press release). Business Wire. July 30, 2007. 
  3. ^ "Gramercy Capital Corp. Completes $3.3 Billion Acquisition of American Financial Realty Trust" (Press release). Business Wire. April 1, 2008. 
  4. ^ "Gramercy completes $3B deal for American Financial Realty". American City Business Journals. April 1, 2008. 
  5. ^ Gutierrez, Bertrand M. (November 10, 2008). "N.Y. investors pay $36M for tallest building in W-S". American City Business Journals. 
  6. ^ "Gramercy Capital Corp. Announces an Agreement to Sell its Collateral Management Agreements for its Collateralized Debt Obligations ("CDOs") to CWCapital and Retain the Equity in its CDOs" (Press release). Business Wire. January 31, 2013. 
  7. ^ "Gramercy Capital Corp. Changes Name to Gramercy Property Trust Inc" (Press release). Business Wire. April 15, 2013. 
  8. ^ Litten, Kevin (June 28, 2013). "Gramercy Property Trust buys Elkridge truck terminal". American City Business Journals. 
  9. ^ Meyers, Bryce (March 13, 2015). "Gramercy Closes on 2.7 Million-SF Office/Industrial Portfolio for $399 Million". CoStar Group. 
  10. ^ Ball, Brian (April 14, 2015). "Obetz building sold for $24M to New York REIT". American City Business Journals. 
  11. ^ Sumner, Justin (July 28, 2015). "Gramercy Property Trust Pays $46.8M for BAE Facility in Fridley". CoStar Group. 
  12. ^ "Gramercy Property Trust and Chambers Street Properties Announce Closing of Merger" (Press release). Business Wire. December 17, 2015. 
  13. ^ Cooper, Michael (March 2, 2016). "Gramercy Property Trust Pays $37M for Specialty Bakery Bldg". CoStar Group. 
  14. ^ "Gramercy Property Trust Announces Acquisition of $521 Million Core Logistics Portfolio" (Press release). Business Wire. December 16, 2016. 
  15. ^ Heschmeyer, Mark (December 16, 2016). "Gramercy Property Trust Acquires $521 Million Core Logistics Portfolio". CoStar Group. 
  16. ^ Hoyle, Amanda (April 5, 2017). "Gramercy Property Trust buys PBM Graphics building for $9.2M". American City Business Journals. 
  17. ^ Bandell, Brian (July 3, 2017). "TV studio facility in Miami-Dade sells for $18M". American City Business Journals. 
  18. ^ Bandell, Brian (July 21, 2017). "Public company pays $80M for Opa Locka Hialeah Flea Market". American City Business Journals. 

External links[edit]