As filed with the Securities and Exchange Commission on July 13, 1998
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) June 30, 1998
CAPITAL TRUST
(Exact name of registrant as specified in its charter)
California 1-8063 94-6181186
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(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
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(Address of principal executive offices) (Zip Code)
(212) 655-0220
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(Registrant's telephone number, including area code)
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(Former name or former address, if changed since last report)
733343.2
ITEM 2. Acquisition or Disposition of Assets
On June 30, 1998, the Registrant originated and funded a $39 million
mezzanine loan (the "Mezzanine Loan") to the entity that owns an office complex
in Dallas, Texas (the "Property"). The Property contains 15 low-rise buildings
totaling 1.7 million square feet of Class A office space and a 200-room Marriott
Hotel. The Mezzanine Loan is secured by a second mortgage on the Property.
Proceeds from the Mezzanine Loan, in conjunction with the proceeds from
a concurrent senior loan originated by an affiliate of Credit Suisse First
Boston, were used primarily to refinance the Property.
The Mezzanine Loan was funded with a combination of existing cash and
funds borrowed under one of the Registrant's credit facilities. The Mezzanine
Loan has a term of nine months. The Mezzanine Loan is prepayable at any time,
subject to a prepayment penalty if prepaid before November 25, 1998, and
thereafter is prepayable at par without penalty for the remainder of the term.
The Mezzanine Loan is non-amortizing and bears interest at a specified rate
above LIBOR.
733343.2
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
(Registrant)
Date: July 13, 1998 By: /s/ Edward L. Shugrue III
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Name: Edward L. Shugrue III
Title: Chief Financial Officer
733343.2