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NorthStar Realty Finance Announces Pricing Of Public Offering Of $225 Million Of Its 8.75% Series E Preferred Stock

NEW YORK, May 12, 2014 /PRNewswire/ -- NorthStar Realty Finance Corp. (NYSE: NRF) (the "Company") announced today that it priced an underwritten public offering of $225 million of its 8.75% Series E Preferred Stock with a liquidation preference of $25 per share.  The Company has granted the underwriters a 30-day option to purchase up to an additional $33.75 million of its Series E Preferred Stock solely to cover over-allotments, if any. The offering is expected to close on May 15, 2014.

UBS Investment Bank and Morgan Stanley are acting as the joint book-running managers of the offering.  Barclays, Citigroup, Credit Suisse, Deutsche Bank Securities, J.P. Morgan and Keefe, Bruyette & Woods, a Stifel Company, are acting as the joint-lead managers of the offering. FBR, JMP Securities, Ladenburg Thalmann & Co. Inc. and MLV & Co. are acting as the co-managers of the offering.

The Company intends to use the net proceeds of the offering for general corporate purposes, including the repurchase or repayment of its liabilities, as well as potentially in connection with the following recently announced transactions, all of which are currently under contract:

  • the acquisition through a joint venture of a $1.0 billion hotel portfolio;
  • the acquisition of a €50 million minority interest in Aerium Group, an established European real estate investment manager specializing in commercial real estate properties; and
  • a $167 million preferred and common equity investment in a 6.3 million square foot industrial portfolio.

A registration statement relating to the offered securities became effective upon filing with 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 prospectus supplement and the related prospectus for the proposed offering may be obtained, when available, by contacting: UBS Securities LLC, Attention: Prospectus Specialist, 299 Park Avenue, New York, NY 10171, or by calling (877) 827-6444, extension 561 3884; or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by calling (866)-718-1649 or by emailing prospectus@morganstanley.com.

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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