Deal Snapshot
BLACKSTONE CLOSES USD 7.6BN ACQUISITION OF US REIT GRAMERCY PROPERTY TRUST
Thursday 11 October 2018

US-based real estate investment trust Gramercy Property Trust (NYSE: GPT)  has closed an agreement with affiliates of New York, US-based investment firm Blackstone's (NYSE: BX) Blackstone Real Estate Partners VIII fund, under which Blackstone acquired all outstanding common shares of Gramercy for USD 27.50 per share in an all-cash transaction valued at USD 7.6bn, the company said.
Under the deal, holders of common shares of Gramercy Property Trust will be entitled to receive USD 27.50 in cash, without interest, in exchange for each common share they own. In connection with the transaction, all of Gramercy's outstanding series A preferred shares will be redeemed for approximately USD 25.05 per share in cash.


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Details
Date Published: 11/10/2018
Target: Gramercy Property Trust
Country: USA
Deal Size: 7.6bn (USD)
Sector: Construction/Real Estate
Type: LBO
Financing: Cash
Status: Closed
Vendor:
Buyer: Blackstone Real Estate Partners VIII
Buyer Advisor: Citigroup Global Markets , BofA Merrill Lynch , Simpson Thacher and Bartlett
Comment:


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