More on Gramercy Q4 results

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

Gramercy Property Trust (GPT) AFFO of $3.4M or $0.05 per share in Q4, $5.8M or $0.09 per share for all 2013.

Eleven properties acquired in eight separate deals for total price of about $164.9M, with initial cap rate of 7.3% and average lease term of 14 years.

Subsequent to quarter's end, Gramercy acquired a 115K square foot industrial facility in Des Plaines, Illinois for $6.3M with initial cap rate of 7.6%.

Common stock dividend reinstated at $0.035 per share.

CC at 2 ET