Item 1.01 Entry into a Material Definitive Agreement.

On February 25, 2009, Capital Trust, Inc. (the "Company") and UBS Real Estate Securities Inc. ("UBS") 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 a Master Repurchase Agreement, dated as of October 30, 2007, as supplemented by a Confirmation to Master Repurchase Agreement, dated as of October 30, 2007 (collectively, the "Repurchase Agreement"), pursuant to which it financed the purchase of a single mezzanine loan (the "Loan"). As of the termination, the Company had a $9.7 million outstanding obligation due under the Repurchase Agreement and the Company recorded book value of the Loan as of December 31, 2008 of $15.2 million.

Under the Termination Agreement, the Company consented to transfer to UBS, and UBS unconditionally accepted and retained, all of the Company's right, title and interest in the Loan (the "Transfer"), and the Transfer unconditionally and fully satisfied all of the obligations of the Company under the Repurchase Agreement, including without limitation the obligations to pay all amounts due thereunder. Pursuant to the Termination Agreement, the Company and UBS acknowledged that the Repurchase Agreement, and the transactions contemplated thereby, were terminated and of no further force and effect and that the Company and UBS released and discharged each other from all of their respective obligations or liabilities under the Repurchase Agreement.

The foregoing description is qualified in its entirety by reference to the 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 in May 2009.

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