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Filed by Chambers Street Properties

Pursuant to Rule 425 under the Securities Act of 1933

Subje ct Company: Gramercy Property Trust, Inc.

Commission File No.: 333-206871

Gramercy Property Trust and Chambers Street Properties Announce Expected Dividend Policies and 2016 Outlook for Combined Company

New York, NY and Princeton, NJ Gramercy Property Trust Inc. (NYSE: GPT) (Gramercy) and Chambers Street Properties (NYSE: CSG) (Chambers Street) announced today that both companies expect to declare and pay a pro-rata fourth quarter and monthly common dividend, respectively, immediately prior to consummation of their proposed merger.

Gramercys dividend will be paid at the pro-rata rate from October 1, 2015, through the date prior to the merger closing date. Chambers Streets dividend will be paid at the pro-rata rate from December 1, 2015 through the date prior to the merger closing date. The merger is expected to close on December 17, 2015 pending approval by Gramercys stockholders and Chambers Streets shareholders at their respective meetings on December 15, 2015.

The combined company is expected to subsequently declare and pay a stub dividend to its shareholders for the period from the merger closing through December 31, 2015 at Chambers Streets current monthly distribution rate.

Gramercy and Chambers Street also announced that they expect the combined company will pay dividends quarterly commencing in the first quarter of 2016. It is further expected that the combined company will establish a dividend payout ratio consistent with the AFFO payout ratios of its peer group, within the 70% to 80% range.

The boards of Gramercy, Chambers Street and the combined company, as applicable, continue to assess and will determine dividend payouts in their respective sole discretions and based on such factors as such boards deem relevant.

Gramercy recently announced on its third quarter 2015 earnings call its anticipated 2016 outlook for the combined company:

· Expected Core FFO of $2.10 - $2.40 per common share

· Expected AFFO of $2.10 - $2.40 per common share

· Expected Net Debt/EBITDA = <6.0x; and

· Earnings guidance assumed approximately 133 million shares of the combined company outstanding post-merger (which amount was calculated to disregard the effect of the exchange ratio on the combined companys outstanding common shares).

This outlook assumes dispositions of combined company properties of $1.0 billion and acquisitions of new properties by the combined company aggregating $1.0 billion prior to December 31, 2016. The outlook also assumes $19.0 million, or $0.14 per share, in combined company reserves for property related capital expenditures and spends $19.8 million, or $0.15 per share, for recurring capital expenditures during calendar 2016, and assumes that the combined company will not raise any equity during 2016. For the calculation of the dividend payout ratio, AFFO is adjusted to deduct capital expenditures prior to calculating the payout ratio.

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 a commercial real estate asset and property management business for third parties. To review the Companys latest news releases and other corporate documents, please visit the Companys website at or contact Investor Relations at 212-297-1000.

About Chambers Street Properties

Chambers Street is a real estate investment trust focused on acquiring, owning and operating net leased...