Capital Trust, Inc. Announces Comprehensive Debt Restructuring

Capital Trust, Inc. CT today announced the comprehensive restructuring of all of the Company's outstanding recourse debt obligations. The Restructuring involved: the contribution of certain of the Company's legacy assets to a newly formed subsidiary of the Company, the assumption of the Company's legacy repurchase obligations by CT Legacy REIT, and the extinguishment of the Company's senior credit facility and junior subordinated notes. The Restructuring was financed by a new $83.0 million mezzanine loan to CT Legacy REIT provided by an affiliate of Five Mile Capital Partners LLC and the issuance of equity interests in CT Legacy REIT to the former JSN and SCF holders, as well as to an affiliate of the Mezzanine Lender.