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Gramercy Capital Corp. Signs $485M Deal For 115 Office Buildings

NEW YORK CITY-The REIT has entered into an agreement with joint venture partner Garrison Investment Group to acquire a 5.6 million-square-foot portfolio from KBS.

By Jacqueline Hlavenka | Updated on August 21, 2012

(Save the date: RealShare New York comes to the Grand Hyatt, New York, NY, October 9.)

NEW YORK CITY-Gramercy Capital Corp., a real estate investment firm that manages commercial mortgage-backed securities and other real estate debt, has inked a definitive agreement to acquire 115 office buildings from an affiliate of KBS Real Estate Investment Trust valued at $470 million, plus six million shares of common stock valued at $15 million, the company said in a prepared statement this morning.  

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