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): March 15, 2005
                                                         ---------------



                               CAPITAL TRUST, INC.
                               -------------------
             (Exact Name of Registrant as specified in its charter)



         Maryland                       1-14788                  94-6181186
----------------------------       ------------------       --------------------
(State or other jurisdiction        (Commission File           (IRS Employer
      of incorporation)                  Number)             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 (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act 
(17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act 
(17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))





Item  7.01        Regulation FD Disclosure.

         On March 15, 2005, Capital Trust, Inc. (the "Company") issued a press
release announcing that it had closed a $337.8 million collateralized debt
obligation financing. A copy of the press release is attached to this Current
Report on Form 8-K ("Current Report") as Exhibit 99.1 and is incorporated herein
solely for purposes of this Item 7.01 disclosure.

         The information in this Current Report, including the exhibit attached
hereto, is being furnished and shall not be deemed "filed" for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), or otherwise subject to the liabilities of such section. The information
in this Current Report, including the exhibit, shall not be incorporated by
reference into any filing under the Securities Act of 1933, as amended or the
Exchange Act, regardless of any incorporation by reference language in any such
filing.




Item 9.01         Financial Statements and Exhibits

         (c) Exhibits

         Exhibit Number                Description

         99.1                          Press Release dated March 15, 2005












                                   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/ John R. Klopp
                                                --------------------
                                                Name:    John R. Klopp
                                                Title:   Chief Executive Officer




Date: March 16, 2005

















                                  Exhibit Index



                Exhibit Number         Description
                --------------         -----------

                     99.1              Press Release dated March 15, 2005