NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that it completed a previously announced expansion of its senior unsecured credit facility (the “Credit Facility”), increasing the revolving borrowing capacity thereunder by $200 million. After giving effect to the modification, the Credit Facility affords the Company $600 million of aggregate borrowing capacity, consisting of a $200 million term loan (which was not affected by the amendment) and up to $400 million of revolving credit capacity. The Company may, at its election, further increase the Credit Facility up to $1 billion of aggregate borrowing capacity, subject to lender approval and satisfaction of certain customary conditions.
The Credit Facility banks include JPMorgan Chase Bank, N.A., Bank of America, N.A., Morgan Stanley Bank, N.A., Royal Bank of Canada, The Bank of New York Mellon, U.S. Bank National Association, SunTrust Bank, The Huntington National Bank and Citizens Bank, National Association.
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 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.
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, in the Company's Quarterly Reports on Form 10-Q and in the Company’s Current Reports on Form 8-K. 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.
