Gramercy Portfolio
525 North Tryon Street, Charlotte, NC 28202
Property Overview
The Gramercy Portfolio represents a senior mezzanine loan in the amount of $500,000,000. The loan was used to fund a portion of Gramercy Capital Corporation’s (“Gramercy”) acquisition of American Financial Realty Trust (“AFR”) which closed on April 1, 2008.
AFR and its affiliates owned approximately 916 office and bank branch properties located in 37 states and Washington, DC and partial ownership interests in 125 bank branch properties occupied primarily by Citizens Bank.
Investment at a Glance
Location: 37 States
Property Type: Mixed-use
Investment Type: Senior Mezzanine Loan
Acquisition Date: August 22, 2008
Loan Par Value: $500,000,000
Loan Term: 19 months w/ 1 year Extension Option
No. of Properties: 1,041
Square Footage: 25,600,000 SF
