-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Qz4tTjtziRnJ2vcZSoxgvCXVN410g9857SJkuUb/yR0hFrZ36skyNWRaQoBG1uQE qC/zMSLhA/GKz7OrexR5DQ== 0000903112-99-000208.txt : 19990318 0000903112-99-000208.hdr.sgml : 19990318 ACCESSION NUMBER: 0000903112-99-000208 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19990226 ITEM INFORMATION: FILED AS OF DATE: 19990317 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CAPITAL TRUST INC CENTRAL INDEX KEY: 0001061630 STANDARD INDUSTRIAL CLASSIFICATION: MORTGAGE BANKERS & LOAN CORRESPONDENTS [6162] STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-14788 FILM NUMBER: 99567330 BUSINESS ADDRESS: STREET 1: 605 THIRD AVE CITY: NEW YORK STATE: NY ZIP: 10016 BUSINESS PHONE: 2128567000 MAIL ADDRESS: STREET 1: BATTLE FOWLER LLP STREET 2: 75 E 55TH ST CITY: NEW YORK STATE: NY ZIP: 10022 8-K 1 FORM 8-K As filed with the Securities and Exchange Commission on March 17, 1999 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported) February 26, 1999 ----------------- CAPITAL TRUST, INC. ------------------- (Exact name of registrant as specified in its charter) Maryland 1-14788 94-6181186 - -------------------------------------------------------------------------------- (State or other (Commission (I.R.S. Employer jurisdiction of File Number) Identification No.) incorporation) 605 Third Avenue, 26th Floor New York, New York 10016 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) (212) 655-0220 - -------------------------------------------------------------------------------- (Registrant's telephone number, including area code) - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) 818395.2 ITEM 2. Acquisition or Disposition of Assets On February 26, 1999, the Registrant, through its wholly owned subsidiary, CT-BB Funding Corp., purchased, at approximately 80% of face value, $246.0 million of subordinated commercial mortgage-backed securities ("CMBS") priced with a blended yield of 10.65% representing 533 basis points over the prevailing yield on comparable maturity Treasuries. The purchase price was approximately $196.9 million plus accrued interest. The CMBS are comprised of 11 separate issues including 15 separate classes all rated BB and are secured by approximately 1,450 properties throughout the United States. The CMBS were purchased from an affiliate of Deutsche Bank AG (the "Seller"). Simultaneously with the purchase transaction, CT-BB Funding Corp. entered into an interest rate swap with an affiliate of Deutsche Bank AG for the full duration of the CMBS in order to hedge its interest rate exposure. The purchase price for the CMBS was funded 30% with available cash and 70% with Seller financing provided pursuant to a term redeemable securities contract (the "Financing"). The Financing, which matures in three years, is payable monthly in arrears and bears interest at a floating rate of LIBOR plus 50 basis points which, after giving effect to swap costs, is equivalent to fixed rate financing at 6.045%. 818395.2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CAPITAL TRUST, INC. (Registrant) Date: March 17, 1998 By: /s/ Edward L. Shugrue III ---------------------------------------- Name: Edward L. Shugrue III Title: Chief Financial Officer 818395.2 -----END PRIVACY-ENHANCED MESSAGE-----