Seeking Alpha

Gramercy closes $17.85M property acquisition

  • Taking little time following its big capital raise, Gramercy Property Trust (GPT) closes the $17.85M cash acquisition of a 220K square foot cold storage facility in Yuma, Arizona.
  • Year 1 NOI is expected to be approximately $1.4M - an initial cap rate of almost 8%, with fixed annual rent escalations throughout the lease term.
  • Press release.
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Comments (1)
  • TFCAB
    , contributor
    Comments (1977) | Send Message
     
    I hope and expect the deal flow to be "fast n furious" for GPT in Q4. The time is now to get a ton of deals locked up
    9 Oct 2013, 08:54 AM Reply Like
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