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Blackstone To Acquire Gramercy Property In $7.6b Deal | National Real Estate Investor

by nreionline.com posted 5months ago 42 views
Affiliates of Blackstone Real Estate Partners VIII will pay $27.50 for each Gramercy share, according to a statement Monday. : (Bloomberg)—Blackstone Group LP agreed to acquire Gramercy Property Trust, which owns industrial real estate in the U.S. and Europe, in a cash deal valued at $7.6 billion. Affiliates of Blackstone Real Estate Partners VIII will pay $27.50 for each Gramercy share, according to a statement Monday. That’s a 15 percent premium over the closing price on Friday. Gramercy, based in New York, has about $2.8 billion in debt, according to data compiled by Bloomberg.