Blackstone expands industrial footprint with Gramercy buy

Blackstone has inked a $7.6bn agreement to buy Gramercy Property Trust, a real estate investment trust that focuses on industrial commercial properties — an asset type Blackstone has brought to the securitization market several times this year.

  • By David Bell
  • 07 May 2018

Blackstone Real Estate Partners VIII is buying Gramercy Property Trust in an all cash transaction valued at $7.6bn, which represents a 15% premium over the closing stock price on May 4.

Since 2012 the firm has completed more than $5bn in real estate acquisitions, with more than 80% ...

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