Gramercy Property Trust Announces Closing of Public Offering of 59,800,000 Shares of Common Stock

Gramercy Property Trust Inc.

, a real estate investment trust, announced today the closing of the public offering of 59,800,000 shares of its common stock, which includes the exercise in full by the underwriters of their option to purchase up to 7,800,000 additional shares of common stock. The Company further announced that the net proceeds from the public offering were approximately $336.3 million, after deducting the underwriting discount and estimated offering expenses payable by the Company. The Company intends to use the net proceeds of the offering to repay outstanding borrowings under its revolving credit facility, to fund a portion of the cash purchase price for the previously announced acquisition of a portfolio of twelve properties, and to fund the cash purchase price for the other ten properties it currently has under contract to acquire. Morgan Stanley, BofA Merrill Lynch, J.P. Morgan and RBC Capital Markets acted as joint book-running managers for the offering. JMP Securities, Ladenburg Thalmann, Piper Jaffray, SunTrust Robinson Humphrey, Compass Point, BNY Mellon Capital Markets, LLC, Huntington Investment Company and CJS Securities acted as co-managers. The Company's counsel for the offering was Morgan, Lewis & Bockius LLP and the underwriters' counsel for the offering was Hunton & Williams 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, 180 Varick Street, New York, New York 10014, Attention: Prospectus Department, telephone: (866) 718-1649; BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attention: Prospectus Department, email: dg.prospectus_requests@baml.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by calling 1-866-803-9204; or RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, New York 10281, Attention: Equity Capital Markets, telephone: (877) 822-4089, email: equityprospectus@rbccm.com. 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 these 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.