Chambers Street Properties has been acquired by Gramercy Property Trust.  As a result of the completion of the acquisition, the Company's common stock ceased trading on the New York Stock Exchange and shareholders received shares of Gramercy Property Trust.

The merger between Gramercy Property Trust and Chambers Street Properties created the largest industrial and office net lease real estate investment trust, with an enterprise value of approximately $5.7 billion. The combination brings together two complementary portfolios focused on industrial and office real estate, comprising 288 properties and 52 million square feet in major markets throughout the U.S. and Europe. Gramercy Property Trust was the lead acquirer and closed on the transaction.

Duff & Phelps' Role

Duff & Phelps served as a valuation advisor to company management of both REITs to aid in a S-4 public filing.  After closing of the transaction, Duff & Phelps also completed a valuation and purchase price allocation of Chambers Street Properties for financial reporting purposes.

About Gramercy Property Trust Inc.

Gramercy Property Trust Inc. is a leading global investor and asset manager of commercial real estate. The Company specializes in acquiring and managing single-tenant, net-leased industrial and office properties purchased through sale-leaseback transactions or directly from property developers and owners. The Company focuses on income producing properties leased to high quality tenants in major markets in the United States and Europe.