NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that Gramercy Property Europe plc (the Fund) recently closed three separate transactions on the acquisition of three logistics assets and one office and production facility located in Poland and the Netherlands for an aggregate purchase price of approximately €85 million. Two of the logistics facilities totaling 1,069,500 square feet (99,360 square meters) were acquired in a €45.1 million sale and lease back transaction with a third party logistics provider that operates in Central and Eastern Europe. Located in Strykow and Piaseczno, Poland, the tenant fully occupies both buildings and has a weighted average remaining lease term of eight years. The third logistics facility was acquired in a €15.6 million sale and lease back transaction with a company that provides warehousing and logistics services in the Netherlands, Belgium and Luxembourg. The facility is located in Uden, the Netherlands and totals 283,900 square feet (26,380 square meters). Upon acquisition, the tenant signed a new lease for the entire property with an initial term of 11 years. The office and production facility, located in Venray, the Netherlands, was acquired in conjunction with Gramercy Europe’s local partner, Meijer Realty Partners B.V., for a purchase price of approximately €24.1 million. Spanning 301,400 square feet (28,000 square meters), the property was a build-to-suit for the world’s second largest supplier of roof systems for cars and trucks. The facility is fully leased through 2030.
Alistair Calvert, Managing Director & Head of Investments at Gramercy Europe, commented, “These acquisitions are indicative of our clear ambition to build a pan-European portfolio of industrial, office, retail and special purpose assets with medium or long-term leases to high quality tenants. We have completed over €220 million of acquisitions in the second half of 2015 in seven separate transactions and have added over three million square feet (over 279,000 square meters) of functional, well-let space in Germany, the Netherlands and Poland to our portfolio.”
About Gramercy Property Europe plc
Gramercy Property Europe plc is an investment fund that targets single-tenant net leased assets and sale-leaseback transactions across Europe. The Fund has initial equity commitments of €350 million and will invest predominantly in industrial, office and specialty retail assets in Germany, the Netherlands, the Nordic region, the United Kingdom and other targeted European countries. Further information is available at www.gptreit.com/europe.
About Gramercy Property Trust
Gramercy Property Trust Inc. is a leading global investor and asset manager of commercial real estate. The Company specializes in acquiring and managing single-tenant, net-leased industrial and office properties purchased through sale-leaseback transactions or directly from property developers and owners. The Company focuses on income producing properties leased to high quality tenants in major markets in the United States and Europe.
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.