Sep
14
GPT, TPG Enter Strategic Partnership
ByStrategic Office Partners’ portfolio comprises high-quality, single-tenant office assets totaling 1 million square feet.
Ben Harris, president, Gramercy Property Trust
New York—TPG Real Estate has acquired a 75 percent interest in a portfolio of six office assets valued at $187.5 million, from Gramercy Property Trust, and the two have formed a new partnership, Strategic Office Partners.
“We see a compelling investment opportunity in the office net lease sector and believe that this portfolio of high-quality assets in strong growth markets is poised to benefit from positive fundamental trends,” Avi Banyasz, TPG Real Estate’s co-head, said in a prepared release. “We look forward to working with Gramercy, a best-in-class owner and operator, whose extensive experience in the space will prove valuable as we work together to manage and expand the platform.”…
