Gramercy Capital (GKK) gets a monkey off its back, announcing the sale of the collateral...

|About: Gramercy Property Trust,... (GPT)|By:, SA News Editor

Gramercy Capital (GKK) gets a monkey off its back, announcing the sale of the collateral management agreements on its 3 CDOs for $9.9M (plus another $14M in 6-9 months), and the intention to liquidate its CDO bond portfolio for about $32M in the next 30-90 days. The moves unlock more than $50M of liquidity currently tied up in the CDO business. Shares +1.1% AH. (PR)