Gramercy Property Trust Agrees to $7.6 Billion Sale to Blackstone

May 07, 2018 · reit.com

Gramercy Property Trust (NYSE: GPT) said May 7 that it has agreed to be acquired by affiliates of Blackstone Real Estate Partners VIII for $27.50 per share in an all-cash transaction valued at $7.6 billion.

The offer represents a 15 percent premium above Gramercy’s closing share price of $23.82 on May 4. Completion of the transaction is currently expected to occur in the second half of 2018.

FTSE Nareit All REITs Index Up 0.6% in April

May 02, 2018 · reit.com

REIT returns were modestly higher in April as valuation levels, first quarter earnings reports and mergers and acquisitions (M&A) activity lifted investor sentiment.

The total returns of the FTSE Nareit All REITs Index rose 0.6 percent in April, while the S&P 500 rose 0.4 percent. The total returns of the FTSE Nareit Mortgage REIT Index gained 0.4 percent in April.

The yield on the 10-year Treasury note rose 0.2 percent in April.

Prologis to Buy DCT Industrial for $8.4 Billion

April 30, 2018 · reit.com

Prologis, Inc. (NYSE: PLD) will acquire DCT Industrial Trust Inc. (NYSE: DCT) for $8.4 billion in an all-stock transaction including debt, the two companies said April 29.