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Gramercy Capital Corp. Closes The Previously Announced Acquisition Of A $485 Million Portfolio In A Joint Venture With Garrison Investment Group

Gordon F. DuGan, Chief Executive Officer of Gramercy Capital Corp., commented, “We couldn’t be more excited about this acquisition. The transaction allows Gramercy to deploy a significant amount of capital into an attractive, high-yielding, net lease opportunity. Furthermore, Garrison has been a tremendous partner in closing the largest and most complicated deal in my 24-year career.”

About Garrison Investment Group

Garrison Investment Group is a leading middle market credit and asset based investor, Garrison’s investment strategy focuses on unique middle market transaction across real estate, corporate credit, commercial & industrial and consumer loans. The firm is based in New York, has 63 employees (47 investment professionals) and manages in excess of $3 billion in assets under management.

About Gramercy Capital Corp.

Gramercy Capital Corp. is a self-managed, integrated commercial real estate investment and asset management company. The Company’s Gramercy Realty division currently manages approximately $1.9 billion of commercial properties leased primarily to regulated financial institutions and affiliated users throughout the United States. The Gramercy Finance division manages approximately $1.8 billion of whole loans, bridge loans, subordinate interests in whole loans, mezzanine loans, preferred equity, commercial mortgage-backed securities and other real estate securities which are financed through three non-recourse CDOs. The Company is headquartered in New York City and has regional investment and portfolio management offices in Jenkintown, Pennsylvania, Charlotte, North Carolina, and St. Louis, Missouri.

To review the Company’s latest news releases and other corporate documents, please visit the Company's website at www.gkk.com or contact Investor Relations at 212-297-1000.

(GKK-EN)

Forward-Looking Information

This press release contains forward-looking information based upon the Company's current best judgment and expectations. Actual results could vary from those presented herein. The risks and uncertainties associated with forward-looking information in this release include, but are not limited to, factors that are beyond the Company's control, including the implementation of the new business strategy, the integration of the new management team, the results of the operational review and those factors listed in the Company's Annual Report on Form 10-K and in the Company's Quarterly Reports on Form 10-Q. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For further information, please refer to the Company's filings with the SEC.

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