Gramercy Capital Corp. (Gramercy) (NASDAQ: GKK) is a real estate investment trust (REIT) and a commercial real estate specialty finance company that focuses on the direct origination and acquisition of whole loans, subordinate interests in whole loans, mezzanine loans, bridge loans, preferred equity, and net lease investments involving commercial properties throughout the United States.
Gramercy has also established a real estate securities business that focuses on the acquisition, trading and financing of commercial mortgage-backed securities (CMBS). As of December 31, 2007, the Company held loans, other lending investments, and CMBS of approximately $3.4 billion, net of fees, discounts, and unfunded commitments. It also held interests in three credit tenant net lease investments investments, two interests in joint ventures and a 100% fee interest in a property.
Substantially all of Gramercy's operations are conducted through its general partner, GKK Capital LP.