Gramercy Property Trust Secures $14.5 Million Senior Mortgage Financing with Northwestern Mutual
NEW YORK--(BUSINESS WIRE)-- Gramercy Property Trust Inc. (NYSE: GPT) announced today it has closed a $14.5 million senior mortgage financing with Northwestern Mutual Real Estate Investments, LLC. The 3.28% five-year, fixed-rate loan is secured by the Company's previously acquired 540,000 square foot industrial portfolio located in the Indianapolis metropolitan area.
Gramercy Property Trust Inc. is a self-managed, integrated commercial real estate investment and asset management company. The Company owns, directly or in joint ventures, 105 buildings totaling approximately 4.0 million square feet of office and 1.7 million square feet of industrial, net leased on a long-term basis to tenants, including Bank of America, Nestlé Waters, Philips Electronics and others. The Company's property management business, operating under the name Gramercy Asset Management, currently manages for third-parties, approximately $1.9 billion of commercial properties leased primarily to regulated financial institutions and affiliated users throughout the United States. The Company is headquartered in New York City and has regional offices in Jenkintown, Pennsylvania, and St. Louis, Missouri.
To review the Company's latest news releases and other corporate documents, please visit the Company's website at www.gptreit.com or contact Investor Relations at 212-297-1000.
This press release contains forward-looking information based upon the Company's current best judgment and expectations. Actual results could vary from those presented herein. The risks and uncertainties associated with forward-looking information in this release include, but are not limited to, factors that are beyond the Company's control, including the implementation of the new business strategy, the integration of the new management team, the results of the operational review and those factors listed in the Company's Annual Report on Form 10-K and in the Company's Quarterly Reports on Form 10-Q. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For further information, please refer to the Company's filings with the SEC.
Gramercy Property Trust Inc.
Jon W. Clark, 212-297-1000
Chief Financial Officer
Emily Pai, 212-297-1000
KEYWORDS: United States North America Indiana New York
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