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Michael Terry
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Michael Terry, CFA has nearly 20 years of experience in the investment management industry focused on the analysis, investment and management of fixed income and preferred stock portfolios. Over the years, Mr. Terry has analyzed and invested in both public and private companies around the world... More
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  • NorthStar CEO Sell Real Estate 2 comments
    Dec 28, 2012 8:02 AM | about stocks: NRF

    Read this in the news this morning:

    David Hamamoto, chairman and chief executive officer of NorthStar Realty Finance Corp., sold his Manhattan co-op apartment in a $50 million deal, exactly the price he was seeking when he put it on the market in June.
    The sale of the property at 944 Fifth Ave. was completed on Dec. 7, according to New York City property records made public yesterday. The buyer is listed as Frank McCourt, with no other identifying information provided.
    The transaction includes a six-bedroom, six-bathroom unit
    spanning the building's 11th floor, as well as a ground-floor,
    two-bedroom guest apartment, according to property records and StreetEasy.com, a real estate listings website. The main
    apartment, with a private elevator landing and "majestic"
    views of Central Park, was featured in Architectural Digest,
    according to StreetEasy.

    Makes me wonder if my NorthStar holdings will allow me to be a neighbor.

    NRF is at $6.91% this morning. YTD total return has been 61%. NRFprA is at $24.62, yielding 8.88%. NRFprC trades at $24.95, yields 8.89% and has 4 more years of call protection. NRFprC is the way to go.

    Still like the name.

    Disclosure: I am long NRF.

    Themes: mREIT Stocks: NRF
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  •  
    I am with you on this great ride! Happy New Year!
    28 Dec 2012, 10:13 AM Reply Like
  •  
    P.S thanks for all of your outstanding advice this year!
    28 Dec 2012, 07:53 PM Reply Like
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