NorthStar, Colony to merge in $58B REIT
Colony Capital and two of NorthStar’s companies, NorthStar Realty Finance and NorthStar Asset Management, will be joining forces in a new real estate investment trust (REIT) whose combined assets are estimated at $58 billion, according to Bloomberg.
The new company will be called Colony NorthStar and will be led by executive members of Colony and NorthStar Realty. Each of the three companies in the merger will hold about one third of the conglomerate shares.
NorthStar Realty Finance, one of the busiest real estate investment companies in 2015, made plenty of healthcare deals in the past two years and has at least 50 percent of its portfolio in healthcare-related properties.
The deal is pending shareholders’ approval.
Pamela Tabar was editor-in-chief of I Advance Senior Care from 2013-2018. She has worked as a writer and editor for healthcare business media since 1998, including as News Editor of Healthcare Informatics. She has a master’s degree in journalism from Kent State University and a master’s degree in English from the University of York, England.
Topics: Executive Leadership , Operations