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Gramercy Capital Corp. Message Board

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  • ts1309 ts1309 Feb 26, 2009 8:39 PM Flag

    FITCH DOWNGRADES GKK CDO

    These CDOs have been trading at 50 cents on the dollar....of course they needed to be downgraded. If you think the ratings agencies are out in front these issues....I have a bridge in brooklyn we should talk about.

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    • This loan on the FL hotels was purchased from Wells fargo by GKK and incorporated into the CDO. 93mil of a 1bil CDO is a substantial hit and that is why I have mentioned it as well as watched it. The owner has stayed foreclosure and receivership attempts of GKK by showing a subordinate capital investment from an outside investor company that is actually owned by the owner himself. This guy has money and is hiding it (I will bet in Brazil). If our attorney companion JRK could shed some more light on the shady actions of CF Hospitality (AKA Georgi Zaczac), we would appreciate it.