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NorthStar Realty Finance Announces Public Offering Of Common Stock

NEW YORK, Dec. 11, 2013 /PRNewswire/ -- NorthStar Realty Finance Corp. (NYSE: 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 to the offered securities has been declared effective by the Securities and Exchange Commission ("SEC"). The offering is being made only by means of a prospectus supplement and accompanying base prospectus. Copies of the preliminary prospectus supplement and the related prospectus for the proposed offering may be obtained by contacting UBS Securities LLC, Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171 or by calling (888) 827-7275; by contacting Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, by calling (800) 503-4611, or by emailing prospectus.cpdg@db.com; by contacting Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (888) 603-5847, or by emailing Barclaysprospectus@broadridge.com; by contacting Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling (800-831-9146); or by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by calling 866-803-9204. 

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the shares, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

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