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Gramercy Property Trust Amends and Upsizes Existing Unsecured Term Loan to $400 Million

NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust (NYSE:GPT) announced today that it amended and upsized its existing $175 million unsecured term loan with Capital One, N.A. to $400 million. The amended term loan was arranged by Capital One, N.A., as sole lead arranger. The Company intends to use the net proceeds of the amended and upsized loan to reduce borrowings under its revolving credit facility.