NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust (NYSE: GPT), a real estate investment trust, announced today that Gramercy Property Europe plc (the Fund), a Europe-focused real estate investment fund sponsored and managed by the Company, acquired a newly-built warehouse facility located in Carlisle, United Kingdom for approximately £17 million. The building, totaling 315,000 square feet, is leased for an initial term of 20 years to a leading UK infrastructure and support services business listed on the London Stock Exchange.
The transaction is the Fund’s first in the UK and supports the Company’s strategy to build out a Pan-European platform of single-tenant properties. The Fund has completed ten transactions in the past six months amassing a portfolio totaling nearly €290 million and spanning over 4.1 million square feet in Germany, the Netherlands, the UK and Poland.
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 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.