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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): April 6, 2009</B>


<P style="font-size: 24pt" align="center"><B>CAPITAL TRUST, INC.<BR>
</B><FONT
style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>
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  <TD style="border-bottom: #000000 1px solid"><B>Maryland</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>1-14788</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>94-6181186</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
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  <TD style="border-bottom: #000000 1px solid"><B>410 Park Avenue, 14th Floor,
New York, NY<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>10022</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
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<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(212) 655-0220</B>
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  <TD style="border-bottom: #000000 1px solid" nowrap><B>N/A<BR>
</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P style="font-size: 10pt" align="left">Item&nbsp;1.01 Entry into a Material
Definitive Agreement.

<P style="font-size: 10pt; text-indent: 4%" align="left">On April&nbsp;6, 2009,
Capital Trust, Inc. (the &#8220;Company&#8221;) and Lehman Commercial Paper
Inc. (&#8220;Lehman&#8221;) entered into a Satisfaction, Termination and
Release Agreement (the &#8220;Termination Agreement&#8221;) pursuant to which
the parties terminated their right, title and interest in, to and under the
Loan and Security Agreement dated May&nbsp;30, 2008 as amended and restated on
September&nbsp;10, 2008 (the &#8220;Loan Agreement&#8221;), the associated note
(the &#8220;Note&#8221;) and the other related documents (collectively with the
Loan Agreement and the Note, the &#8220;Terminated Documents&#8221;) pursuant
to which it financed the purchase of a single mezzanine loan (the
&#8220;Collateral&#8221;). As of the termination, the Company had an
$18.0&nbsp;million outstanding obligation due under the Terminated Documents,
and the Company&#8217;s recorded book value of the Collateral as of
December&nbsp;31, 2008 was $25.9&nbsp;million.

<P style="font-size: 10pt; text-indent: 4%" align="left">Under the Termination
Agreement, the Company consented to transfer to Lehman, and Lehman
unconditionally accepted, all of the Company&#8217;s right, title and interest
in the Collateral (the &#8220;Transfer&#8221;),
and the Transfer unconditionally and fully satisfied all of the obligations of
the Company under the Terminated Documents, including without limitation the
obligations to pay all amounts due thereunder. Pursuant to the Termination
Agreement, the Company and Lehman acknowledged that the Terminated Documents,
and the transactions contemplated thereby, were terminated and of no further
force and effect and that the Company and Lehman released and discharged each
other from all of their respective obligations or liabilities under the
Terminated Documents.

<P style="font-size: 10pt; text-indent: 4%" align="left">The foregoing
description is qualified in its entirety by reference to the Termination
Agreement, which will be attached as an exhibit to the Company&#8217;s
Quarterly Report on Form 10-Q for the quarterly period ended March&nbsp;31,
2009, which the Company intends to file with the Securities and Exchange
Commission in May&nbsp;2009.



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<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt; text-indent: 8%" align="left">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.

<P style="font-size: 10pt; margin-left: 45%" align="left"><B>CAPITAL TRUST,
INC.</B>

<P style="font-size: 10pt; margin-left: 45%"
align="left">By:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Geoffrey G. Jervis
</U>

<DIV style="font-size: 10pt; margin-left: 45%"
align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:&nbsp;&nbsp;&nbsp;Geoffrey G.
Jervis<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief
Financial Officer</DIV>

<P style="font-size: 10pt" align="left">Date: April&nbsp;10, 2009
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{"company-data": {"conformed-name": "CAPITAL TRUST INC", "cik": "0001061630", "assigned-sic": "6798", "irs-number": "946181186", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-14788", "film-number": "09745408"}, "business-address": {"street1": "410 PARK AVENUE", "street2": "14TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "2126550220"}, "mail-address": {"street1": "PAUL, HASTINGS, JANOFSKY & WALKER LLP", "street2": "75 E 55TH ST", "city": "NEW YORK", "state": "NY", "zip": "10022"}}
Form 8-K
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): April 6, 2009
CAPITAL TRUST, INC.
(Exact name of registrant as specified in its charter)
Maryland
1-14788
94-6181186
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
410 Park Avenue, 14th Floor,
New York, NY
10022
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
(212) 655-0220
N/A
(Former name or former address if changed since last report.)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material
Definitive Agreement.
On April 6, 2009,
Capital Trust, Inc. (the "Company") and Lehman Commercial Paper
Inc. ("Lehman") entered into a Satisfaction, Termination and
Release Agreement (the "Termination Agreement") pursuant to which
the parties terminated their right, title and interest in, to and under the
Loan and Security Agreement dated May 30, 2008 as amended and restated on
September 10, 2008 (the "Loan Agreement"), the associated note
(the "Note") and the other related documents (collectively with the
Loan Agreement and the Note, the "Terminated Documents") pursuant
to which it financed the purchase of a single mezzanine loan (the
"Collateral"). As of the termination, the Company had an
$18.0 million outstanding obligation due under the Terminated Documents,
and the Company's recorded book value of the Collateral as of
December 31, 2008 was $25.9 million.
Under the Termination
Agreement, the Company consented to transfer to Lehman, and Lehman
unconditionally accepted, all of the Company's right, title and interest
in the Collateral (the "Transfer"),
and the Transfer unconditionally and fully satisfied all of the obligations of
the Company under the Terminated Documents, including without limitation the
obligations to pay all amounts due thereunder. Pursuant to the Termination
Agreement, the Company and Lehman acknowledged that the Terminated Documents,
and the transactions contemplated thereby, were terminated and of no further
force and effect and that the Company and Lehman released and discharged each
other from all of their respective obligations or liabilities under the
Terminated Documents.
The foregoing
description is qualified in its entirety by reference to the Termination
Agreement, which will be attached as an exhibit to the Company's
Quarterly Report on Form 10-Q for the quarterly period ended March 31,
2009, which the Company intends to file with the Securities and Exchange
Commission in May 2009.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
CAPITAL TRUST,
INC.
By:
/s/ Geoffrey G. Jervis
Name:   Geoffrey G.
Jervis
Title:     Chief
Financial Officer
Date: April 10, 2009