Gramercy Property Trust Prices a Preferred Offering

By: ,

August 13, 2014 – 4:05 pm  

Gramercy Property Trust (ticker:GPT) (a REIT) has priced a cumulative redeemable preferred offering.  Of course the issue is a perpetual issue and as such we have no interest at this point in time.

There are 3,500,000 shares in the offering and it has been priced at 7.125%.  The shares will begin trading on the OTC grey market beginning tomorrow (Thursday).


Gramercy will use the proceeds of this offering to redeem their series A preferred shares which they have announced in the last hour.  The redemption date on GPT-A will be September 12, 2014 at $25.32/share ($25 plus accrued dividends).

The details of this offering are here.

Thanks again to readers Jonathan, Mike and Larry for the heads up on this issue.


Related Posts:

Tim McPartland

Connect with Tim McPartland

Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
Search Dividend Investor