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Gramercy Europe Buys 5 Dutch Car Dealerships for USD 30.27m.

M2 EQUITYBITES-July 8, 2016-Gramercy Europe Buys 5 Dutch Car Dealerships for USD 30.27m

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8 July 2016 - US-based real estate investment trust Gramercy Property Trust's (NYSE: GPT) subsidiary sponsored, Europe-focused Gramercy Property Europe plc fund has acquired a 244,200 square foot portfolio of five car dealerships via a sale and lease back transaction in locations across the Netherlands for USD 30.27m (EUR 27.4m), the company said.

The properties range in size from 18,100 to 106,200 square feet and are all leased for an initial term of 17 years to the second largest automotive retailer in the Netherlands.

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 EUR350m and will invest predominantly in industrial, office and specialty retail assets in Germany, the Netherlands, the Nordic region, France and other targeted European countries.

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.

The company focuses on income producing properties leased to high quality tenants in major markets in the United States and Europe.

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Publication:M2 EquityBites (EQB)
Geographic Code:4EUNE
Date:Jul 8, 2016
Words:221
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