GRAMERCY PROPERTY TRUST ACQUIRES FOUR FACILITIES FOR $82M

NEW YORK CITY — Gramercy Property Trust Inc. has closed on four acquisitions in Dallas, southern New Jersey, Houston and Orlando, Fla., for approximately $82 million combined. The properties include a wholesale automotive auction facility located in Hutchins in the Dallas MSA and a cross-dock truck terminal in Houston. Gramercy purchased the auction facility for approximately $58.5 million, which includes the assumption of a $26.3 million first mortgage that is co-terminus with the lease. The property is fully leased through June 2029. Gramercy purchased the Houston terminal, which has 189 dock doors, and the Orlando terminal for a combined $12 million. The Houston terminal is leased through May 2019. Gramercy purchased the industrial freezer/cooler facility for approximately $11.8 million.