Capital Trust, Inc. (NYSE: CT) announced today the closing of its previously announced public offering of 4,000,000 shares of its class A common stock. Net proceeds to the company totaled approximately $113 million.
Morgan Stanley & Co. Incorporated acted as the sole underwriter of the offering.
Affiliates of Samuel Zell, the Company's chairman of the board, and W. R. Berkley Corporation, an existing shareholder, purchased a number of shares in the offering sufficient to maintain their pro rata ownership interests in the Company.
"This offering enhances CT's ability to exploit opportunities created by the current dislocation," said John Klopp, Capital Trust's CEO. "We are very pleased that both the public and private markets continue to have confidence in our platform." -- Capital Trust, Inc.
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