Gramercy Property Trust Announces Closing of Public Offering of 10,350,000 Common Shares

Gramercy Property Trust (NYSE:GPT), a real estate investment trust, announced today the closing of the public offering of 10,350,000 common shares, which includes the exercise in full by the underwriters of their option to purchase up to an additional 1,350,000 common shares, at a public offering price of $27.60 per share.

The net proceeds of the offering were approximately $273.8 million, after deducting for underwriting discounts and offering expenses payable by the Company. The Company intends to use the net proceeds of this offering to fund the future acquisition of its target assets consistent with its investment strategies and for working capital and other general corporate purposes, which may include the repayment or repurchase of indebtedness.

Morgan Stanley and J.P. Morgan acted as joint book-running managers for the offering. BofA Merrill Lynch, Citigroup, SunTrust Robinson Humphrey, Wells Fargo Securities and Stifel also acted as book-running managers for the offering. Ladenburg Thalmann, BNY Mellon Capital Markets, LLC, BTIG, Capital One Securities, MUFG, Scotiabank, TD Securities, CJS Securities, Compass Point, D.A. Davidson & Co., Huntington Investment Company and JMP Securities acted as co-managers for the offering. The Company’s counsel for the offering was Morgan, Lewis & Bockius LLP and the underwriters’ counsel for the offering was Vinson & Elkins LLP.

The offering was made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (“SEC”). The offering was made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained by contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014,; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling 1-866-803-9204. These documents were also filed with the SEC and are available at the SEC’s website at http://www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities, nor shall there be any sale of the securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Gramercy Property Trust

Gramercy Property Trust is a leading global investor and asset manager of commercial real estate. The Company specializes in acquiring and managing high quality, income producing commercial real estate leased to high quality tenants in major markets in the United States and Europe.

Forward-Looking Statements

This press release contains forward-looking information based upon the Company's current best judgment and expectations. Actual results could vary from those presented herein. The risks and uncertainties associated with forward-looking information in this release include, but are not limited to, factors that are beyond the Company's control, including the factors listed in the Company's Annual Report on Form 10-K. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Gramercy Property TrustJon W. Clark, 212-297-1000Chief Financial OfficerorAshley M. Mancuso, 212-297-1000Investor Relations