Gramercy Cap Prices Stock Offering

Gramercy Capital Corp., a New York-based investor in and originator of commercial mortgage-related loans and securities, has priced a public offering of 2.25 million shares of common stock.Net proceeds totaled approximately $60 million, Gramercy said. The company also reported that it is selling 750,000 shares to its affiliate SL Green Realty Corp. for net proceeds of about $20 million. Wachovia Securities was the sole book-running manager for the public offering, and was granted an option to buy up to 337,500 additional shares to cover any overallotments. Gramercy Capital can be found online at http://www.gramercycapitalcorp.com.