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New York & Tri-State  + New York  + Finance  | 

Capital One Syndicates $400M Loan for Gramercy

Capital One served as administrative agent, sole lead arranger, and sole book runner for an upsized $400 million, 5.25-year, senior unsecured term loan to Gramercy Property Trust. The amended loan is coterminous with the company’s original $175 million loan, and six other financial institutions participated in the loan syndication.

Gramercy’s Jon W. Clark says, “This transaction strengthens our balance sheet and increases our capacity to pursue our acquisition strategy.” The New York-based investor targets industrial assets.

After Gramercy announced a series of acquisitions in August 2017, Capital One approached the company with a range of term loan financing options that would enable it to reduce borrowings from its revolving credit facility, while providing a longer-term capital plan.

Capital One’s John Szeman says, “We saw an opportunity for the company to increase its available liquidity, while reducing its term loan interest expense.”


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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