By Laura Lutz
Des Moines, Nov. 5 - Gramercy Capital Corp. arranged a $100 million private placement of stock with an affiliate of Morgan Stanley Real Estate Special Situations Fund III.
The company sold 3,809,524 common shares at $26.25 each.
Settlement is expected by Nov. 7.
Proceeds will be used for investments and growth.
Gramercy is a commercial real estate finance company based in New York.
| Issuer: | Gramercy Capital Corp.
|
| Issue: | Stock
|
| Amount: | $100,000,005
|
| Shares: | 3,809,524
|
| Price: | $26.25
|
| Warrants: | No
|
| Investor: | Affiliate of Morgan Stanley Real Estate Special Situations Fund III
|
| Pricing date: | Nov. 5
|
| Stock symbol: | NYSE: GKK
|
| Stock price: | $24.22 at close Nov. 4
|
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