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BRIEF-Gramercy Property Trust launches new joint venture
2017年8月22日 / 晚上9点10分 / 3 个月前

BRIEF-Gramercy Property Trust launches new joint venture

Aug 22 (Reuters) - Gramercy Property Trust

* Gramercy Property Trust launches new joint venture to acquire, own, and manage newly constructed, Class A, e-commerce distribution facilities throughout the U.S.

* Gramercy Property Trust - ‍venture’s first acquisition is a forward purchase contract for $642 million​

* Gramercy Property Trust - ‍expects to finance initial acquisition with 55% to 60% property level mortgage debt​

* Gramercy Property Trust - ‍in discussions with several institutional capital partners, reached an agreement with a sovereign investor to anchor venture​

* Gramercy Property Trust says will be issuing between 2.7 million and 4.8 million op units to seller as a component of purchase price as part of the deal

* Gramercy Property Trust - ‍expects to contribute between 25% -50% of equity to venture, estimated to be between $64 million-$128 million at target leverage levels​

* Gramercy Property Trust - ‍op units for portfolio will be priced at $29.19 per share and total between $80 million and $139 million at current share price​ Source text for Eikon: Further company coverage:

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