Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that its Board of Directors declared a pro-rata fourth quarter 2015 dividend of $0.18413 per common share for the period October 1, 2015 through December 16, 2015, the date prior to the anticipated close of the announced merger of the Company with and into an affiliate of Chambers Street Properties (“Chambers Street”). The pro-rata dividend is payable on December 22, 2015 to holders of the Company’s common stock and to unitholders of GPT Property Trust LP of record as of the close of business on December 16, 2015.

The Board of Directors also declared a dividend on the 7.125% Series B Cumulative Redeemable Preferred Stock for the quarter ending December 31, 2015 in the amount of $0.44531 per share, payable on December 31, 2015 to preferred stockholders of record as of the close of business on December 16, 2015.

The merger is expected to close on December 17, 2015 pending approval by the Company’s stockholders and Chambers Street’s shareholders at their respective meetings on December 15, 2015. The combined company is expected to subsequently declare and pay a stub dividend to its common shareholders for the period from the merger closing through December 31, 2015 at Chambers Street’s current monthly distribution rate of $0.0425 per common share.

About Gramercy Property Trust

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.

To review the Company’s latest news releases and other corporate documents, please visit the Company's website at www.gptreit.com or contact Investor Relations at 212-297-1000.

Forward-looking Information

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 and in the Company's Quarterly Reports on Form 10-Q. 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 further information, please refer to the Company's filings with the SEC.