NEW YORK CITY—Ladenburg Thalmann & Co., an investment advisory firm, is liking what its hearing—and seeing—with respect to Gramercy Property Trust, calling the latter firm “the next blue chip net lease REIT in the making.”

“We believe GPT has all the makings of the next blue chip single-tenant net lease REIT,” says Daniel Donlan, VP of equity research and REITs at Ladenburg. “In our view, there is not a clear net lease leader that is exclusively focused on industrial and office assets. Given GPT CEO Gordon DuGan’s 22-year history with W.P. Carey, his deep underwriting experience across a variety of net lease asset types, his strong credibility and growing familiarity with institutional investors, we believe Gramercy can evolve into a blue chip REIT if the capital markets remain open to their ambitious growth plan.”

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