NEW YORK CITY-Having gotten a one-month reprieve in March on the maturity of nearly $800 million in debt, Gramercy Capital Corp. said Monday it has now gotten another two weeks’ extension. The new maturity date is April 29; the idea is to provide time to negotiate an “orderly transition” of the assets backing the debt, which could entail Gramercy continuing to manage the assets, according to a release.

The extension covers Gramercy’s $240.5-million mortgage loan from Goldman Sachs Mortgage Co., Citicorp North America and SL Green Realty Corp.; as well as $549.7 million worth of senior and junior mezzanine loans from KBS Debt Holdings LLC, GSMC, Citicorp and SL Green. Originally, the debt was due in March 2010 but the maturity date was extended by a year when Gramercy amended the loans, according to its 2009 annual report. The 2010 annual report has not yet been filed, and Gramercy said earlier this month it has gotten a non-compliance notice from the New York Stock Exchange due to the delayed filing.

In a release, Gramercy, headed by CEO Roger Cozzi, says it paid no extension fee to the lenders. The loans are secured by mortgages on Gramercy Realty-owned properties and by pledges of equity interests in substantially all of the entities that constitute the Gramercy Realty division.

Gramercy says in its release that no agreement has been reached as yet, and that “there can be no assurance” that the company and its lenders will reach one. A failure to reach an agreement during the two-week extension period will likely mean the lenders pursuing “available remedies” to enforce the loans, including foreclosure, the release states.