Gramercy jumps in premarket trade

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

Acquired 11 properties for about $111.2M with average lease term of 15 years.

MG&A expenses of $4.3M off from $4.4M in Q1, $9.3M a year ago.

Recognized a $1M impairment on CDO bonds thanks to higher interest rates; carrying value now $7.6M.

Cash and equivalents on hand of $49M, off from $100.5M in Q1.

Asset management business fee revenues of $13.6M up from $8.3M in Q1. Includes $5.4M in incentive fees based on portfolio value at Q's end.

Total revenue of $16.3M up 69% Y/Y.

No word yet on dividend (common or preferred).

Earnings call at 2 ET. (PR)

Earlier: Q2 results.

GPT +7.3% premarket in very thin trade.