{"id":1004143031,"date":"2016-04-29T02:12:55","date_gmt":"2016-04-29T10:12:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004143031"},"modified":"2022-12-06T19:53:22","modified_gmt":"2022-12-07T03:53:22","slug":"gramercy-extends-portfolio-with-12-industrial-buildings-in-u-s-and-canada","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gramercy-extends-portfolio-with-12-industrial-buildings-in-u-s-and-canada\/","title":{"rendered":"Gramercy Extends Portfolio with 12 Industrial Buildings in U.S. and Canada"},"content":{"rendered":"

By Alexandra Pacurar, Associate Editor<\/em><\/p>\n

\"Gramercy<\/a>

Gramercy Property Trust<\/p><\/div>\n

New York<\/strong>\u2014Gramercy Property Trust<\/a> purchased 12 industrial buildings for $115.2 million. The single-tenant net lease industrial assets<\/a> span over a total 1.5 million square feet and are located in major markets across the U.S. and Canada, such as New Jersey, Los Angeles, Chicago, Baltimore and Toronto.<\/p>\n

The real estate investment trust bought announced that the net operating income for the first year is estimated at $9.4 million, while the average remaining lease term is approximately 13 years. Gramercy financed a part of the acquisition through four loans totaling of $48.2 million, which will be amortized in five and a half years. The mortgages have a weighted average interest rate of 4.8 percent and limit operations for 11 of the 12 assets in the portfolio.<\/p>\n

Gramercy Property Trust is New York-based global investor and asset manager of commercial real estate, specialized in acquiring and managing single-tenant, net-leased industrial and office properties<\/a> in the U.S. and Europe.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 12 industrial assets are located in major markets and were acquired for $115.2 million. Gramercy assumed four mortgages for the transaction. <\/p>\n","protected":false},"author":236,"featured_media":1004143032,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,1600,21742,10],"tags":[],"class_list":["post-1004143031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-new-york","category-latest","category-northeast"],"acf":[],"yoast_head":"\nGramercy Extends Portfolio with 12 Industrial Buildings in U.S. and Canada - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/gramercy-extends-portfolio-with-12-industrial-buildings-in-u-s-and-canada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gramercy Extends Portfolio with 12 Industrial Buildings in U.S. and Canada\" \/>\n<meta property=\"og:description\" content=\"The 12 industrial assets are located in major markets and were acquired for $115.2 million. 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