Blackstone to acquire Gramercy Property in $7.6b deal

Blackstone to acquire Gramercy Property in $7.6b deal

Blackstone Group LP headquarters stands in New York, U.S., on Friday, April 14, 2017. Photograph: Victor J. Blue/Bloomberg

Blackstone Group LP agreed to acquire Gramercy Property Trust, which owns industrial real estate in the U.S. and Europe, in a cash deal valued at $7.6 billion.

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