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Gramercy Acquires Stake in Class A Complex

Investment Firm Buys 49% Interest in 55 Corporate Drive from Gale Co., Principal JV
By Jamaal Hunt
June 23, 2006 | 9:17 P.M.

Gramercy Capital Corp. obtained a 49.75 % equity interest on the three-building corporate office complex at 55 Corporate Drive in Bridgewater, NJ, with a 0.25% interest to be acquired in the future. The sale price was not disclosed. Gramercy acquired the interest from The Gale Co. and Principal Real Estate Investors, and is held as a tenancy-in-common interest. SL Green Realty owns the remaining 50% as a tenancy-in-common interest.

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News | Gramercy Acquires Stake in Class A Complex