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Gramercy Property Trust Announces Acquisition of 12-Building Industrial Portfolio for $115.2 Million

NEW YORK, Apr 28, 2016 (BUSINESS WIRE) -- Gramercy Property Trust GPT, +0.12% a real estate investment trust, announced today that it closed on the acquisition of a 12-building portfolio of industrial facilities for $115.2 million.

The portfolio consists of 12 single-tenant net lease industrial assets totaling approximately 1.5 million square feet. The majority of the assets are located in major markets including, New Jersey, Los Angeles, Chicago, Baltimore and Toronto. Aggregate year 1 net operating income of the properties will be...