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GSC Capital Files $200M IPO

NEW YORK CITY-Locally based GSC Capital Corp. files for an initial public offering of up to $200 million. The REIT, which was formed last year by GSC Partners, invests in real estate-related securities, whole loan mortgages, bank loans, corporate loans and other asset-backed securities.

By Barbara Jarvie | Updated on January 27, 2006

(To read more on the debt and equity markets, click here.)

NEW YORK CITY-GSC Capital Corp., a REIT formed last year by GSC Partners, has filed the paperwork for its initial public offering. The firm anticipates raising up to $200 million. As of Sept. 30, 2005, it had a portfolio of approximately $1.8 billion consisting primarily of agency residential mortgage-backed securities and middle market senior secured loans.

According to the SEC filing, GSC Capital intends to use all of the net proceeds to continue to make investments in a diversified investment portfolio of real estate-related securities and real estate loans, as well as various other asset classes. The listing does not specify the number of shares being offered or the pricing.

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