Gramercy Property Trust and TPG Real Estate form strategic office partners

Gramercy Property Trust and TPG Real Estate form strategic office partners
13/09/2016 , by , in INTERNATIONAL

Gramercy Property Trust and TPG Real Estate has partnered to form Strategic Office Partners that will aggregate a diverse portfolio of single-tenant office assets in high-growth metropolitan areas in the United States.

TPG and Gramercy committed $400 million and secured a $200 million non-recourse credit facility from Morgan Stanley.

The portfolio is comprised of high-quality single tenant net lease office assets totalling approximately one million square feet in the Los Angeles MSA, San Fransisco Bay Area, the San Diego MSA, Nashville and Minneapolis.

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