Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of real estate investment company Gramercy Capital
So what: Gramercy has been trying to come to some sort of an arrangement with a handful of its lenders, including Goldman Sachs
Now what: Obviously, this is pretty bad news for Gramercy and its investors. However, investors may be able to take some comfort in the fact that if a deal is reached in the next two weeks, the company may continue to manage the transferred assets and collect a management fee. That would certainly be a better outcome than if no agreement is reached, and the lenders simply foreclose on the properties. The bottom line: Gramercy investors will definitely want to stay tuned for the results of the negotiations.
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