Tag Archives: Collateralized Debt Obligations

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Gramercy Capital Corp. Reports Fourth Quarter and Full Year 2012 Financial Results

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By Business Wirevia The Motley Fool

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Gramercy Capital Corp. Reports Fourth Quarter and Full Year 2012 Financial Results

NEW YORK–(BUSINESS WIRE)– Gramercy Capital Corp. (NYS: GKK) :

Announces Exit from Commercial Real Estate Finance Business

Announces Name Change to Gramercy Property Trust


Financing and Investing Highlights

  • For the quarter, net income (loss) to common stockholders from continuing operations was $(5.0) million, or $(0.09) per common share, an increase from $(11.4) million, or $(0.22) per common share, for the same quarter in the previous year. For the full year, net income (loss) to common stockholders from continuing operations was $(25.5) million, or $(0.49) per common share, as compared to $(28.1) million, or $(0.55) per common share, in the previous year.
  • The Company generated negative funds from operations, or FFO, of $126.8 million for the fourth quarter of 2012, a decrease of $302.3 million from FFO of $175.5 million generated in the same quarter of the previous year. On a per common share basis, FFO was negative $2.35 for the fourth quarter of 2012 as compared to FFO of $3.42 in the same quarter of the previous year. For the full year, FFO decreased to negative $157.8 million, or $3.04 per common share, from $395.3 million in the previous year, or $7.75 per common share. FFO includes a negative $149.3 million, or $2.69 per common share, for the quarter ended December 31, 2012 and a negative $169.2 million, or $2.95 per common share, for the year ended December 31, 2012, from discontinued operations related to the Company’s exit of the commercial real estate finance business.
  • On March 18, 2013, the Company completed the sale to transfer the collateral management and sub-special servicing agreements for its three Collateralized Debt Obligations, or CDOs, to CWCapital Investments LLC, or CWCapital, for approximately $9.9 million, less certain adjustments and closing costs.
  • Following the Company’s exit from the commercial real estate finance business, the Company will change its name to Gramercy Property Trust Inc. to better reflect the Company’s …read more
    Source: FULL ARTICLE at DailyFinance
Business, Finance, Occupation & Industry

Gramercy Capital Corp. to Release Fourth Quarter 2012 Financial Results and Business Plan Update on

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By Business Wirevia The Motley Fool

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Gramercy Capital Corp. to Release Fourth Quarter 2012 Financial Results and Business Plan Update on March 19, 2013


Conference Call to be Held on March 19, 2013 at 2:00 PM EDT

NEW YORK–(BUSINESS WIRE)– Gramercy Capital Corp. (NYS: GKK) , a self-managed integrated commercial real estate investment and asset management company organized as a real estate investment trust, announced today that it will release earnings for the fourth quarter 2012 on Tuesday, March 19, 2013, prior to market open.

The Company’s executive management team will host a conference call and audio webcast on Tuesday, March 19, 2013, at 2:00 PM EDT to discuss fourth quarter 2012 financial results and to provide a business plan update.

The live call will be webcast in listen-only mode on Gramercy’s website at www.gkk.com and on Thomson’s StreetEvents Network. The presentation may also be accessed by dialing (888) 771-4371 – Domestic or (847) 585-4405 – International, using confirmation code “GRAMERCY.”

A replay of the call will be available from March 19, 2013 at 4:30 PM EDT through March 22, 2013 at 11:59 PM EDT by dialing (888) 843-7419 – Domestic or (630) 652-3042 – International, using pass code 4726 3729#.

Company Profile

Gramercy Capital Corp. is a self-managed, integrated commercial real estate investment and asset management company. The Company owns, directly or in joint venture, a portfolio of 116 office and industrial buildings totaling approximately 4.9 million square feet, net leased on a long-term basis to tenants, including Bank of America, Nestlé Waters, Philips Electronics and others. The Company’s property management business, operating under the name Gramercy Asset Management, currently manages approximately $1.7 billion of commercial properties leased primarily to regulated financial institutions and affiliated users throughout the United States. The Gramercy Finance division manages approximately $1.7 billion of whole loans, bridge loans, subordinate interests in whole loans, mezzanine loans, preferred equity and commercial mortgage-backed securities which are financed through three non-recourse Collateralized Debt Obligations, or CDOs. On January 30, 2013, the Company entered into a purchase and sale agreement to transfer the collateral management and sub-special servicing agreements for its three CDOs to CWCapital Investments LLC for approximately $9.9 …read more
Source: FULL ARTICLE at DailyFinance