The deal sees Blackstone Group LP entering into a Definitive Agreement to buy Gramercy Property Trust for $7.6 billion in cash.

On Monday, Blackstone Group LP stated it would purchase acquire Gramercy Property Trust for $7.6 billion in cash.

Gramercy Property Trust is an asset manager of commercial real estate.

Blackstone Group LP’s $27.50-per-share offer represents a premium of 15.4% to Gramercy Property’s close on Friday at $23.82.

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Tags: acuiqision, asset manager, Blackstone Group LP, commercial real estate, Gramercy Property Trust, M&A, Mergers & Acquisition, real estate