By Angela McDaniels
Tacoma, Wash., Dec. 17 – Gramercy Property Trust Inc. and Chambers Street Properties completed their merger and privately placed $150 million of 4.97% senior notes due December 2024, according to a company news release.
A $100 million portion of the placement was funded when the merger closed. The remaining $50 million is expected to fund in January.
The companies also replaced their credit facilities with $2.08 billion of new senior credit facilities.
Gramercy Property Trust, a New York-based real estate investment trust, is an investor and asset manager of commercial real estate. Chambers Street Properties is a net lease REIT based in Princeton, N.J.
| Issuer: | Gramercy Property Trust Inc.
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| Issue: | Senior notes
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| Amount: | $150 million
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| Maturity: | December 2024
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| Coupon: | 4.97%
|
| Settlement date: | Dec. 17 for $100 million
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