Gramercy Property Trust (GPT) puts another $82M to work, closing on 4 acquisitions. Among the...

|About: Gramercy Property Trust,... (GPT)|By:, SA News Editor

Gramercy Property Trust (GPT) puts another $82M to work, closing on 4 acquisitions. Among the buys is a wholesale automotive facility near Dallas for $58.5M with an initial cap rate of 8.4%, and an industrial freezer facility near Philadelphia for $11.8M with an initial cap rate of 6.2%. The company's Q2 investments had an average lease term of 15.1 years and average cap rate of 8%. (PR)