NorthStar, Colony Merger Closes NorthStar Asset Management (NYSE: NSAM), NorthStar Realty Finance Corp. (NYSE: NRF) and Colony Capital (NYSE: CLNY) completed the previously announced merger of the companies into real estate investment trust (REIT) Colony NorthStar Inc. (NYSE: CLNS). The new entity currently has an equity market capitalization of approximately $9 billion and assets under […]
NorthStar Asset Management
While in the middle of a gigantic merger to create a $17 billion real estate investment trust (REIT), a major senior living real estate owner is selling a $1 billion stake in its health care portfolio. New York-based NorthStar Realty Finance Corp. (NYSE: NRF) entered into a definitive agreement to sell a joint venture interest in […]
CareTrust REIT Buys $34.4 Million Portfolio in California CareTrust REIT, Inc. (Nasdaq: CTRE) acquired two senior housing communities and two skilled nursing facilities (SNFs) in California’s Central Valley for approximately $34.4 million. The portfolio includes 79 assisted living units and 293 skilled nursing beds. It is currently leased to affiliates of California-based Covenant Care, LLC. […]
A shareholder who has been calling for a management restructure at NorthStar Asset Management (NYSE: NSAM) has taken another stance in wake of the forthcoming merger between NSAM, NorthStar Realty Finance (NYSE: NRF) and Colony Capital Inc. (NYSE: CLNY), which was announced in June. The NorthStar entities have a major presence in senior housing, with […]
One activist shareholder is slamming the “management cronies” involved in the $17 billion merger of three major real estate companies, saying there is “woefully inadequate” value to shareholders in the transaction. Jonathan Litt, founder and chief investment officer of New York-based hedge fund Land & Buildings, slammed special committee members of NorthStar Asset Management […]
It’s starting to feel like summer at our Chicago headquarters, and we were eager to bring our readers the latest buzz from the industry this week. Everyone was interested in the latest news from the nation’s largest senior housing provider, including its upcoming plans for the year and a new wellness program for brain health. […]
NorthStar Realty Finance (NYSE: NRF), a real estate investment trust that is a major owner of senior housing real estate, will be merging with its current external manager, NorthStar Asset Management (NSAM), and private equity firm Colony Capital Inc. (NYSE: CLNY). The all-stock merger is expected to create a diversified global equity REIT with a […]
NorthStar Realty Finance (NYSE: NRF), a significant owner of senior housing properties, could merge with Colony Capital Inc. (NYSE: CLNY) and NorthStar Asset Management Group (NYSE: NSAM) into a single real estate investment trust if talks currently underway result in a deal, the three companies recently confirmed in a joint statement. The news comes several […]
In a move that reflects the ongoing conflict between a major global asset management firm and an activist shareholder, NorthStar Asset Management (NYSE: NSAM) announced it has formed a special committee of independent directors to continue to work on strategic alternatives to recapture shareholder value. However, one shareholder is questioning the independence of the directors. […]
Just weeks after an activist shareholder pushed a major senior housing asset management firm, the company has fired back, calling the “attention-grabbing” tactic “ill-conceived” and a distraction. NorthStar Asset Management (NYSE: NSAM) was put under pressure at the start of 2016 after shareholder Jonathan Litt, founder and chief investment officer of New York-based hedge fund Land and Buildings […]
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