PHILADELPHIA, April 27, 2017: Morgan Lewis represented Gramercy Property Trust (NYSE: GPT), a real estate investment trust, in an underwritten public offering of 10,350,000 common shares at a public offering price of $27.60 per share, which includes the exercise in full by the underwriters of their option to purchase up to 1,350,000 additional common shares.
The Company intends to use the net proceeds of the offering to fund the future acquisition of its target assets consistent with its investment strategies and for working capital and other general corporate purposes, which may include the repayment or repurchase of indebtedness. Morgan Stanley and J.P. Morgan acted as joint book-running managers for the offering.
The Morgan Lewis team advising Gramercy Property Trust on the offering was led by partners Jim McKenzie and Rich LaFalce and included associates Crystal Fang and Rick Umbrecht.