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NorthStar Realty Finance
NRF (the "Company") announced today that it has commenced an underwritten public offering of 50 million shares of common stock. The Company expects to grant the underwriters a 30-day option to purchase up to 7.5 million additional shares of common stock.
UBS Investment Bank, Deutsche Bank Securities, Barclays, Citigroup and J.P. Morgan are acting as the joint book-running managers of the offering.
The Company intends to use the net proceeds of the offering to:
fund the cash portion of the purchase price for the acquisition of an approximately $400 million portfolio of manufactured housing communities that it currently has under contract; and
make other potential investments relating to its business, which may include (i) an approximately $350 million debt and equity investment in a strategic joint venture with a New York tri-state area focused real estate owner and asset manager, (ii) the acquisition of limited partnership interests in real estate private equity funds, (iii) the acquisition of commercial real estate properties and (iv) the origination of commercial real estate loans.
Any remaining net proceeds will be used for general corporate purposes, including the repurchase or repayment of our liabilities.
A registration statement relating
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