By: Benzinga
January 31, 2013 at 16:34 PM EST
Gramercy Capital to Sell Collateral Mgmt Agreements for CDOs to CWCapital, to Retain Equity in CDOs
Gramercy Capital Corp. (NYSE: GKK ) announced today the execution of a definitive agreement to transfer the collateral management and sub-special servicing agreements for its three Collateralized Debt Obligations, CDO 2005-1, CDO 2006-1 and CDO 2007-1, to CWCapital Investments LLC (“CWCapital”) for approximately $9.9 million, less adjustments and closing costs. The Company will retain
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