Seeking Alpha

Gramercy Property in 3-property $39.6M purchase deal

  • Putting its recent capital raise to good use, Gramercy Property Capital (GPT) acquires three properties (in 3 separate transactions) totaling 423K square feet for about $39.6M. Year 1 NOI of $2.8M makes for a 7.1% initial cap rate. The weighted-average lease term is roughly 11.5 years.
  • The largest of the three is a 309K square foot packaging and distribution facility in Elk Grove Village, IL - 100% leased to one of the nation's largest independent bakery and food contract manufacturers with annual rent escalations through 2023.
  • Source: Press Release
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs