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NEW YORK CITY-Gramercy Capital Corp. sees the potential of expanding its horizons to include more credit tenant lease and fixed income trading transactions. "We're looking to create brand awareness," said Marc Holliday, Gramercy's chief executive officer, president and a director, during the firm's third quarter conference call. "While floating rate is our core, it's the fulcrum by which we can create income."

In the third quarter, Gramercy generated total revenues of $26.6 million, a 42% increase over the previous quarter. The company originated and closed 10 separate debt investments, totaling approximately $323.7 million, net of fees and discounts. They ranged from a $12-million transaction to an approximately $52-million one. But chief investment officer Andrew Mathias anticipates larger-size deals in the future. "We expect to close larger transactions in '06." The company had a $50.2-million net lease investment during the third quarter of 2005. More than 80% of the loans were first mortgages.

The total represented an increase in loan production over the previous quarter of $82.4 million. Since its initial public offering last year, Gramercy has originated and closed 56 separate debt investments with commitment amounts totaling approximately $1.3 billion.