January 25, 2015 7:55 AM ET

Real Estate Investment Trusts (REITs)

Company Overview of GTJ Reit Inc.

Company Overview

GTJ REIT, Inc. operates as a real estate investment trust (REIT) in the United States. The company engages in the acquisition, ownership, and management of commercial real estate properties primarily located in New York City. As of June 30, 2008, it owned 7 properties containing a total of approximately 561,000 square feet of leasable area. The company, through its other subsidiaries, provides outdoor maintenance and shelter cleaning services to outdoor advertising companies in New York, New Jersey, Arizona, and California; and paratransit services for physically and mentally challenged persons. GTJ REIT has elected to be taxed as a REIT under the Internal Revenue Code. As a REIT, the compan...

60 Hempstead Ave

Suite 718

West Hempstead

Hempstead, NY 11552

United States

13 Employees

Phone:

516-693-5500

Fax:

516-693-5501

Key Executives for GTJ Reit Inc.

Chief Executive Officer
Age: 53
President and Chief Operating Officer
Chief Accounting Officer
Age: 62
Vice President
Age: 67
Executive of Subsidiaries
Compensation as of Fiscal Year 2014.

GTJ Reit Inc. Key Developments

GTJ Reit Inc. Announces Executive Changes

Effective as of January 15, 2015, Douglas Cooper, Secretary and Treasurer of GTJ REIT Inc. tendered his resignation from such office. Following this resignation as a Company officer, Mr. Cooper will continue his services to the company as a Board member. Following and effective as of D. Cooper's resignation as the Company's Secretary and Treasurer, the Board of Directors appointed Louis Sheinker, the company's President and Chief Operative Officer, and Ben Zimmerman, the company's Chief Financial Officer, as the Company's Secretary and Treasurer, respectively.

GTJ REIT, Inc. Acquires Industrial Building Leased and Occupied by Connecticut Lottery Corporation

GTJ REIT announced that it has acquired a single story industrial building in Rocky Hill, CT. The facility is currently leased and occupied by the Connecticut Lottery Corporation for a term that expires June 2023. Terms of the transaction were not disclosed. The property is a 92,500 square foot single-story specialty office/flex/warehouse building located on 12 acres of land in Rocky Hill, CT, situated in the Hartford South submarket. The building was retrofitted and renovated in 2008.

GTJ REIT, Inc. and GTJ Realty, LP Announces Amendment to Loan Agreement with Capital One, N.A

On April 8, 2014, GTJ REIT Inc. and GTJ Realty, LP entered into a loan agreement with Capital One, N.A. The loan agreement contemplated a $45 million senior revolving credit facility, secured by certain properties located in New York, NY. The closing of the facility took place on April 8, 2014 and the registrant filed a Current Report on Form 8-K disclosing the terms of the foregoing transaction which disclosures are incorporated by reference herein. On November 20, 2014, the above-referenced parties executed an amendment to the loan agreement to increase the credit facility from $45 million to $60 million. The additional credit facility extension was underwritten by People's United Bank. The terms and provisions of the extension are substantially the same as the one under the original credit facility. The parties also entered into several side agreements and instruments to facilitate the transactions contemplated under the foregoing amendment.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 23, 2014
A Partial Two Story Industrial Building in Shelton, CT
Merger/Acquisition
September 11, 2014
One Story Industrial Building in Norwalk
Merger/Acquisition
July 10, 2014
Parking Facility at 28-20 Borden Avenue, Long Island City
 

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