Gramercy Property Trust Announces Pricing of Public Offering of 9,000,000 Common Shares

Gramercy Property Trust (NYSE:GPT), a real estate investment
trust, announced today the pricing of the public offering of 9,000,000
common shares at a public offering price of $27.60 per share for
estimated net proceeds of $238.1 million after deducting for
underwriting discounts and offering expenses payable by the Company. In
addition, the underwriters of the offering have a 30-day option to
purchase up to an additional 1,350,000 common shares. The offering is
subject to customary closing conditions and is expected to close on
April 26, 2017.

The Company intends to use the net proceeds of this offering to fund the
future acquisition of its target assets consistent with its investment
strategies and for working capital and other general corporate purposes,
which may include the repayment or repurchase of indebtedness.

Morgan Stanley and J.P. Morgan acted as joint book-running managers for
the offering. BofA Merrill Lynch, Citigroup, SunTrust Robinson Humphrey,
Wells Fargo Securities and Stifel also acted as book-running managers
for the offering. Ladenburg Thalmann, BNY Mellon Capital Markets, LLC,
BTIG, Capital One Securities, MUFG, Scotiabank, TD Securities, CJS
Securities, Compass Point, D.A. Davidson & Co., Huntington Investment
Company and JMP Securities acted as co-managers for the offering.

The offering is being made pursuant to an effective shelf registration
statement filed with the Securities and Exchange Commission (“SEC”). The
offering is being made only by means of a prospectus supplement and the
accompanying prospectus, copies of which may be obtained by contacting:
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, New York 10014,; or J.P. Morgan
Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717, or by calling 1-866-803-9204. These
documents will also be filed with the SEC and will be 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 the 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.

About Gramercy Property Trust

Gramercy Property Trust is a leading global investor and asset manager
of commercial real estate. The Company specializes in acquiring and
managing high quality, income producing commercial real estate leased to
high quality tenants in major markets in the United States and Europe.

Forward-Looking Statements

This press release contains forward-looking information based upon the
Company’s current best judgment and expectations. Actual results could
vary from those presented herein. The risks and uncertainties associated
with forward-looking information in this release include, but are not
limited to, factors that are beyond the Company’s control, including the
factors listed in the Company’s Annual Report on Form 10-K. The Company
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. For example, the fact that the offering described above has
priced may imply that the offering will close, but closing is subject to
conditions customary in transactions of this type and may be delayed or
may not occur at all. In addition, the fact that the underwriters have
an option to purchase additional shares may imply that this option will
be exercised. However, the underwriters will not be under any obligation
to exercise any such option, or any portion of it, and they may not do
so. Investors should not place undue reliance upon forward-looking
statements.

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