Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sun, December 5, 5:39 AM
|This Slide: #380 of 573|
Slide #380. Gramercy Property Trust Inc. — Preferred Stock Offering
Gramercy Property Trust Inc. (GPT)
7.125% Series B Cumulative Redeemable Preferred Stock (GPT.PRB)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust (the "Company"), announced today that it priced the public offering of 3,500,000 shares of its 7.125% Series B Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share (the "Series B Preferred Stock"), for gross proceeds of $87.5 million before deducting the underwriting discount and estimated offering expenses payable by the Company.
Gramercy Property Trust is a real estate investment trust, focused on acquiring, and managing single-tenant, net leased industrial, office, and specialty properties. Co.'s operating partnership, GPT Operating Partnership LP, (the Operating Partnership), indirectly owns: all of Co.'s consolidated real estate investments; Co.'s interests in unconsolidated investments; and the entities, the entities that conduct Co.'s third-party asset management operations. Co. is the sole general partner and 100% owner of the Operating Partnership. As of Dec 31 2016, Co.'s wholly-owned portfolio consisted of 318 properties.
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