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Gramercy Property Trust Inc. Message Board

  • js291955 js291955 Nov 8, 2013 2:46 AM Flag

    Q3 CC Highlights

    1. Finished with legacy issues
    2. Investment environment extremely attractive. Opportunities are increasing
    3. Continuing CDO advances and asset sales turning into cash
    4. Q4 will be heavy from an investment standpoint
    5. Likely no payment on the CVR
    6. Buying properties in markets with good, long term demographics
    7. All pipeline properties are under contract
    8. Have 5 separate sale-leasebacks in the pipeline
    9. Very steady profitability out of the asset management business
    10. Transparent portfolio allows buying properties with shares or OP units
    11. Consolidation in the net lease business is likely to continue
    12. Continue to focus on growth and avoid dividend price wars
    13. Will receive $12M cash in June 2014 that is already accrued on the balance sheet
    14. Haven't drawn down on our $100M financing facility yet.
    15. Ability to grow in the US is unquestioned and is going to happen
    16. Majority of deals sourced off market
    17. Contractual rent growth of 10%-15% every 5 years is built in.
    18. Cap rates are between 7.5 to 8.5% and borrowing rates are 4 to 4.75%
    19. Open to buyout at significantly higher price

    Sentiment: Strong Buy

9.73+0.13(+1.35%)4:01 PMEDT