GKK - Gramercy Capital Corp. (NYSE Stock)
Watching GKK. Lookijng like it will make a move.
Gramercy Capital Corp. is a real estate investment trust specializing in the origination and acquisition of first mortgage loans; subordinate interests in whole loans (B Notes); mezzanine financing; preferred equity; bridge loans; and permanent loans. The firm provides its services to public and private property owners, financial institutions, mortgage brokers, and other intermediaries. It also provides financial solutions to borrowers seeking to acquire properties; refinance existing property investments; and fund property renovations or repositioning in all major geographic markets and all property types, including office, retail, apartments, industrial, hotel, and select categories of special-purpose real estate. Additionally, the firm also seeks to acquire distressed debt; mortgage backed securities; and real estate investments. It invests up to $100 million in transitional mortgage loans; up to $75 million in B Notes and mezzanine loans; and up to $50 million in preferred equity investments in CBD and suburban office, neighborhood and community retail, apartments, industrial, lodging, and residential conversions across all major U.S. markets. It may also consider opportunistic investments in sub-performing and non-performing loans; note purchase financings; net lease investments; and other special situations. Gramercy Capital Corp. was founded in April 2004 and is based in New York City with an additional office in Los Angeles, California.