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photo of Nicholas Pell “The portfolio consists of several key logistics facilities within some of the top industrial markets in the US,” says Gramercy’s Nicholas Pell.

NEW YORK CITY—A week after announcing an e-commerce facility joint venture and a $479-million portfolio acquisition, Gramercy Property Trust (GPT) revealed a third large-scale transaction. The net lease REIT said Wednesday it had entered an agreement with a leading private real estate development and investment company to acquire a nine-property portfolio of class A industrial properties for $331 million, at a 6.3% cap rate.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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