Gramercy Property Trust Inc. , the New York-based real estate investment trust (“REIT”) announced the disposition of 74.9% interest in the Goodman Europe Development Trust joint venture to Gramercy Property Europe plc. Notably, Gramercy Property Europe plc. is a real estate investment fund that specializes in single-tenant net lease and sale-leaseback transactions across Europe and is managed by a subsidiary of Gramercy Property Trust.
The disposition, which included nine logistics warehouses in Germany and France, fetched the REIT net cash proceeds of $149.5 million. Following this disposition, Gramercy Property Trust’s total net capital and net operating income exposure in the U.K. stand at $47 million and $2 million, respectively. In Europe, the company’s total net capital and net operating income exposure stand at $66 million and $9 million respectively. In fact, post Brexit, Gramercy Property Trust disclosed its direct exposure to British pound (read more: Gramercy Reveals British Pound Exposure amid Brexit).
Gramercy Property Trust targets acquiring and managing single-tenant, net-leased industrial and office properties in key markets in the U.S. and Europe. Year to date, the company has sold around $991.5 million assets in the U.S. and Europe. Also, presently, the company’s dispositions under contract are $289.1 million and assets in the market for sale are around $350.5 million.
Some other stocks in the REIT space include Apple Hospitality REIT, Inc. (APLE - Free Report) , Sotherly Hotels Inc. (SOHO - Free Report) and W. P. Carey Inc. (WPC - Free Report) .
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Gramercy Property Trust Inc. , the New York-based real estate investment trust (“REIT”) announced the disposition of 74.9% interest in the Goodman Europe Development Trust joint venture to Gramercy Property Europe plc. Notably, Gramercy Property Europe plc. is a real estate investment fund that specializes in single-tenant net lease and sale-leaseback transactions across Europe and is managed by a subsidiary of Gramercy Property Trust.
The disposition, which included nine logistics warehouses in Germany and France, fetched the REIT net cash proceeds of $149.5 million. Following this disposition, Gramercy Property Trust’s total net capital and net operating income exposure in the U.K. stand at $47 million and $2 million, respectively. In Europe, the company’s total net capital and net operating income exposure stand at $66 million and $9 million respectively. In fact, post Brexit, Gramercy Property Trust disclosed its direct exposure to British pound (read more: Gramercy Reveals British Pound Exposure amid Brexit).
Gramercy Property Trust targets acquiring and managing single-tenant, net-leased industrial and office properties in key markets in the U.S. and Europe. Year to date, the company has sold around $991.5 million assets in the U.S. and Europe. Also, presently, the company’s dispositions under contract are $289.1 million and assets in the market for sale are around $350.5 million.
Some other stocks in the REIT space include Apple Hospitality REIT, Inc. (APLE - Free Report) , Sotherly Hotels Inc. (SOHO - Free Report) and W. P. Carey Inc. (WPC - Free Report) .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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