New York-based Gramercy Capital Corp. has completed its acquisition of American Financial Realty Trust in a transaction with a total value of approximately $3.3 billion.
According to the companies, the acquisition combines the existing operating platforms of American Financial and Gramercy, creates an integrated commercial real estate finance and operating company, and transforms Gramercy from a pure specialty finance company into a $7.5 billion diversified enterprise with complementary business lines consisting of commercial real estate finance and property investments.
As a result of the acquisition, Gramercy has added approximately 29.2 million square feet of commercial real estate in 38 states and the District of Columbia to its $4.2 billion of debt investments, commercial real estate securities investments, net lease properties and other assets.
