June 3, 2016 Comments Off on NorthStar Entities & Colony Capital Combine With $58B in Assets Views: 506 California News, Midwest, National News, New York News, Northeast, Southwest, West

NorthStar Entities & Colony Capital Combine With $58B in Assets

By: Daniella Soloway

NorthStar Asset Management, NorthStar Realty Finance and Colony Capital are merging to form Colony NorthStar Inc., a single real estate investment trust valued at $58 billion.

Shareholders of NorthStar Asset Management will hold 32.85%, whereas NorthStar Realty will own 33.9%. The remaining 33.25% will go to Colony Capital’s shareholders.

Chief Executive of Colony Capital, Richard Saltzman, will lead the new company with Thomas Barrack Jr. (Colony’s current founder and chairman) as chairman and NorthStar Realty’s current chairman, David Hamamoto, becoming vice chairman.

The all-stock deal is anticipated to close early next year.

Read More at The Wall Street Journal

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