Gramercy Property Trust Raises $47.4 Million via Private Placement of Common Equity


Gramercy Property Trust Raises $47.4 Million via Private Placement of Common Equity

NEW YORK--(BUSINESS WIRE)-- Gramercy Property Trust Inc. (NYSE: GPT) , a real estate investment trust, announced today that is has executed definitive agreements for a private placement of 11,535,200 shares of common equity (the "Private Placement") at a price of $4.11 per share. The Private Placement raised gross proceeds of $47.4 million. Investors in the Private Placement received one Contingent Value Right ("CVR") per common share, which entitles the CVR holder to limited downside protection in the form of a one-time cash payment (not to exceed $0.46 per share) in the event the Company's volume weighted average share price for the ten trading day period ending March 25, 2014 ("Lock-Up End Date") is less than $4.11 per share. The Private Placement investors have agreed not to sell the common shares that they receive in the Private Placement or the related CVRs prior to the Lock-Up End Date.

The Company anticipates closing the Private Placement on or about October 7, 2013.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities. The securities sold in this private offering have not yet been registered under the Securities Act of 1933, as amended, or any state securities laws. Therefore, they may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.

About Gramercy Property Trust

Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates an asset management business that manages for third-parties, including our joint venture partners, commercial real estate assets throughout the United States primarily leased to financial institutions and affiliated users.

To review the Company's latest news releases and other corporate documents, please visit the Company's website at or contact Investor Relations at 212-297-1000.


Forward-looking Information

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 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
Investor Relations

KEYWORDS: United States North America New York


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