The Blackstone Group has reached a deal to buy Midtown-headquartered industrial landlord Gramercy Property Trust for $7.6 billion. The deal values Gramercy’s shares at $27.50, or a 15 percent premium over the real estate investment trust’s closing price Friday, according to the Financial Times. Gramercy invests predominantly in single-tenant industrial properties, and as of earlier this year reportedly had a portfolio spanning 81 million square feet. The company last year sold its European arm for […]
source https://therealdeal.com/2018/05/07/blackstone-is-buying-another-industrial-reit/
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