Interests in sub-investment grade classes (including unrated, first-loss tranches) of fixed- and floating-rate commercial mortgage-backed securities. Capital Trust may purchase securities in either the primary or secondary markets.

Typical Terms:

Determined on a transaction-by-transaction basis

Property Mezzanine Investments | Transitional Mortgage Loans
Corporate Mezzanine Investments | Subordinate CMBS
Opportunistic Investments