2.4.0.8109 - Disclosure - Dispositions and Assets Held-for-Saletruefalsefalse1false
falsefalseP01_01_2013To06_30_2013http://www.sec.gov/CIK0001287701duration2013-01-01T00:00:002013-06-30T00:00:001true
1us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse| 1falsefalsefalse00falsefalsefalse | xbrli:stringItemTypestringfalse0
2false
2us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel| 1falsefalsefalse00 <table border="0" style="clear:both;width:100%; table-layout:fixed;"> <tr> <td></td> </tr> </table> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong><b>3. Dispositions and Assets Held-for-Sale</b></strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong><i> </i></strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong>The Company did not classify any assets as held-for-sale as of June 30, 2013. The following operating results for Gramercy Finance and the assets previously sold for the three and six months ended June 30, 2013 and 2012, are included in discontinued operations: </strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong> </strong></div> <table style="clear:both;WIDTH: 75%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 1.25in" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="6"> <div><font style="FONT-SIZE: 8pt"> Three Months Ended June 30,</font></div> </td> <td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="6"> <div><font style="FONT-SIZE: 8pt"> Six Months Ended June 30,</font></div> </td> <td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"> <div><font style="FONT-SIZE: 8pt">2013</font></div> </td> <td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"> <div><font style="FONT-SIZE: 8pt">2012</font></div> </td> <td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"> <div><font style="FONT-SIZE: 8pt">2013</font></div> </td> <td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"> <div><font style="FONT-SIZE: 8pt">2012</font></div> </td> <td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">Operating Results:</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> </tr> <tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"> <td style="WIDTH: 48%"> <div><font style="FONT-SIZE: 8pt">Revenues</font></div> </td> <td style="WIDTH: 1%"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> <div><font style="FONT-SIZE: 8pt">$</font></div> </td> <td style="TEXT-ALIGN: right; WIDTH: 10%"> <div><font style="FONT-SIZE: 8pt">75</font></div> </td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="WIDTH: 1%"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> <div><font style="FONT-SIZE: 8pt">$</font></div> </td> <td style="TEXT-ALIGN: right; WIDTH: 10%"> <div><font style="FONT-SIZE: 8pt">39,742</font></div> </td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="WIDTH: 1%"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> <div><font style="FONT-SIZE: 8pt">$</font></div> </td> <td style="TEXT-ALIGN: right; WIDTH: 10%"> <div><font style="FONT-SIZE: 8pt">33,582</font></div> </td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="WIDTH: 1%"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> <div><font style="FONT-SIZE: 8pt">$</font></div> </td> <td style="TEXT-ALIGN: right; WIDTH: 10%"> <div><font style="FONT-SIZE: 8pt">83,088</font></div> </td> <td style="TEXT-ALIGN: left; WIDTH: 1%"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">Operating expenses</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(224</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(6,990</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(3,620</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(12,245</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> </tr> <tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">Marketing, general and administrative</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(1,026</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(2,610</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(2,285</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(4,184</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">Interest expense</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(20,187</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(14,653</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(40,840</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> </tr> <tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">Depreciation and amortization</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(291</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(15</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(580</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">Loans held for sale and CMBS OTTI</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(16,006</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(7,641</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(37,074</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> </tr> <tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">Provision for loan losses</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(5,989</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(8,533</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">Expense reimbursements <sup> (1)</sup></font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">5,406</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> </tr> <tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt">Equity in net income from joint venture</font></div> </td> <td style="PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(804</font></div> </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td style="PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">Net income (loss) from operations</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(1,175</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(12,331</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">9,970</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(20,368</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> </tr> <tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"> <td style="white-space:nowrap; TEXT-ALIGN: left" > <div><font style="FONT-SIZE: 8pt">Loss on sale of joint venture interests to a related party</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">1,317</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">Net gains from disposals</font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">53</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">389,140</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">11,996</font></div> </td> <td style="TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> </tr> <tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt">Provision for taxes</font></div> </td> <td style="PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(2,515</font></div> </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td style="PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">-</font></div> </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"> <div><font style="FONT-SIZE: 8pt">Net income from discontinued operations</font></div> </td> <td style="PADDING-BOTTOM: 2.5pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">$</font></div> </td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(1,175</font></div> </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td style="PADDING-BOTTOM: 2.5pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">$</font></div> </td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(12,278</font></div> </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> <td style="PADDING-BOTTOM: 2.5pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">$</font></div> </td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">397,912</font></div> </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="PADDING-BOTTOM: 2.5pt"> <div><font style="FONT-SIZE: 8pt"> </font></div> </td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> <div><font style="FONT-SIZE: 8pt">$</font></div> </td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> <div><font style="FONT-SIZE: 8pt">(8,372</font></div> </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"> <div><font style="FONT-SIZE: 8pt">)</font></div> </td> </tr> </table> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: center; TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong> </strong></div> <table style="clear:both;MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px" cellspacing="0" cellpadding="0"> <tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"> <td style="WIDTH: 1.25in"></td> <td style="TEXT-ALIGN: left; WIDTH: 0.25in"> <div><font style="FONT-SIZE: 10pt"><sup>(1)</sup></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="FONT-SIZE: 10pt">The Company received reimbursements for enforcement costs of $5,406 incurred on the behalf of a pari-passu lender for one loan held by the CDOs, which the Company incurred in prior years. The Company fully reserved for these costs when incurred due to the uncertainty of recovery.</font></div> </td> </tr> </table> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong>  </strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong>Discontinued operations have not been segregated in the Condensed Consolidated Statements of Cash Flows.</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong>  </strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong><i>Gramercy Finance Segment</i></strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt; TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong> </strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt; TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong>On March 15, 2013, the Company disposed of Gramercy Finance and exited the commercial real estate finance business, as discussed more fully in Note 1. The Company recognized a gain of $389,140 in discontinued operations related to the disposal. The gain was calculated based upon the difference between the proceeds received of $6,291, after expenses, the fair value of the Retained CDO Bonds of $8,492, the accrual for the reimbursement of past servicing advances paid plus accrued interest of $14,529 and the net difference of the carrying value of the liabilities and the assets of Gramercy Finance of ($421,911) as of the date of disposal, March 15, 2013.</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt; TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong> </strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt; TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong>The basis of the assets and liabilities of Gramercy Finance were derecognized as follows:</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt; TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong> </strong></div> <table style="clear:both;WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 6%"> <div> </div> </td> <td style="WIDTH: 3%"> <div><font style="FONT-SIZE: 10pt"><b>-</b></font></div> </td> <td style="TEXT-ALIGN: justify; WIDTH: 91%"> <div><font style="FONT-SIZE: 10pt">Loans and other lending investments were derecognized at the lower of cost or market value as of the date of disposal. The fair value of the loans was measured by an internally developed model which considered the price that a third-party would pay to assume the loans and other lending investments at the disposal date;</font></div> </td> </tr> <tr style="VERTICAL-ALIGN: top"> <td> <div> </div> </td> <td> <div><font style="FONT-SIZE: 10pt"><b>-</b></font></div> </td> <td> <div><font style="FONT-SIZE: 10pt">CMBS investments were derecognized at fair value as of the date of disposal. For CMBS investments in an unrealized loss position, the Company recognized an other-than-temporary impairment equal to the entire difference between the investment’s amortized cost basis and its fair value at the date of disposal which is included in net income from discontinued operations. For CMBS investments in an unrealized gain position as of the date of disposal, the Company recorded the unrealized gains as a component of accumulated other comprehensive income (loss) in stockholders’ equity;</font></div> </td> </tr> <tr style="VERTICAL-ALIGN: top"> <td> <div> </div> </td> <td> <div><font style="FONT-SIZE: 10pt"><b>-</b></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="FONT-SIZE: 10pt">Derivative instruments were derecognized at fair value as of March 15, 2013. The derivatives were not terminated, but instead were transferred with the CDOs; and,</font></div> </td> </tr> <tr style="VERTICAL-ALIGN: top"> <td> <div> </div> </td> <td> <div><font style="FONT-SIZE: 10pt"><b>-</b></font></div> </td> <td style="TEXT-ALIGN: justify"> <div><font style="FONT-SIZE: 10pt">The non-recourse CDOs were derecognized at carrying value, which represents the full amount of outstanding liabilities issued by the CDO trusts.</font></div> </td> </tr> </table> </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong>For a further discussion regarding the measurement of financial instruments see Note 9, “Fair Value of Financial Instruments.”</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: justify; TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong> </strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt; TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong>The Company recognized other assets and other receivables retained in the disposal of Gramercy Finance and previously eliminated in consolidation as follows:</strong></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong> </strong></div> <table style="clear:both;WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 6%"> <div> </div> </td> <td style="WIDTH: 3%"> <div><font style="FONT-SIZE: 10pt"><b>-</b></font></div> </td> <td style="WIDTH: 91%"> <div><font style="FONT-SIZE: 10pt">Retained CDO Bonds were recognized at the present value of cash flows expected to be collected, which is based upon management’s assumptions and judgments regarding the resolution of the underlying assets; and,</font></div> </td> </tr> <tr style="VERTICAL-ALIGN: top"> <td> <div> </div> </td> <td> <div><font style="FONT-SIZE: 10pt"><b>-</b></font></div> </td> <td> <div><font style="FONT-SIZE: 10pt">The accrual for reimbursement of past servicing advances is based upon actual expenses incurred by the Company plus accrued interest at the prime rate for the time from which the expenses were incurred through March 15, 2013.</font></div> </td> </tr> </table> </div> </div> falsefalsefalse | nonnum:textBlockItemTypenaThe entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228
Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760
Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760
false0
falseDispositions and Assets Held-for-SaleUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.gramercycapitalcorp.com/role/DispositionsAndAssetsHeldforsale12