Gramercy Capital Corp. Announces An Agreement To Sell Its Collateral Management Agreements For Its Collateralized Debt Obligations (“CDOs”) To CWCapital And Retain The Equity In Its CDOs
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 closing of the transfer of the collateral management and sub-special servicing agreements, the subsequent sale of the CDO bond portfolio, the return of the CDO protective advances, the resolution of underlying assets within the CDOs and the receipt of any proceeds from its CDO equity, CWCapital’s ability to manage and service the assets within the CDOs, the Company’s ability to simplify its balance sheet and reduce going forward expenses, the implementation of the Company’s new business strategy, the integration of the Company’s 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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