The Blackstone Group Acquires Gramercy Property Trust For $7.6B

The Gramercy Property Trust, a real estate investment trust (REIT), has been sold to The Blackstone Group for a total price of $7.6 billion. The transaction took place on October 10, 2018. The property has a total square footage of 81 million. The sale price per share was $27.50. The seller, Gramercy Property Trust, is listed on the New York Stock Exchange under the ticker symbol GPT. The buyer, The Blackstone Group, is also listed on the New York Stock Exchange under the ticker symbol BX. The financial advisor for this transaction was Morgan Stanley.

Summary of transaction details

• Property Type: REIT
• Transaction Amount: $7.6 billion
• Total Square Footage: 81 million
• Sale Price per Share: $27.50
• Seller: Gramercy Property Trust (NYSE: GPT)
• Buyer: The Blackstone Group (NYSE: BX)
• Financial Advisor: Morgan Stanley

Leading individuals involved in this deal include Kathleen McCarthy, Jonathan Gray, Ken Caplan, and Benjamin P. Harris. They played instrumental roles in the transaction, representing their respective organizations.