Capital Trust Reports Third Quarter 2008 Results

NEW YORK, Oct 28, 2008 /PRNewswire-FirstCall via COMTEX/ -- Capital Trust, Inc. (CT:CTNews, chart, profile, moreLast: Delayed quote dataAdd to portfolioAnalyst Create alertInsiderDiscussFinancials Sponsored by:, , ) today reported results for the quarter ended September 30, 2008. Highlights included: -- Operating Results: Reported net income of $13.7 million or $0.61 per share for the third quarter of 2008. -- Portfolio Performance: -- As of September 30, 2008, the Company's loan portfolio consisted of 80 assets with an aggregate net book value of $2 billion.

During the quarter, one $5 million loan was classified as non performing. At quarter end, three loans with an aggregate net book value of $17 million ($67 million gross book value including $50 million in reserves) were classified as non performing. No reserve for loan losses was recorded during the quarter. -- As of September 30, 2008, the Company's CMBS portfolio was comprised of 77 securi...
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