NEW YORK, May 16, 2012 /PRNewswire/ -- iStar Financial Inc. (SFI) announced today that its Board of Directors approved a new stock repurchase program. The program authorizes the Company to repurchase up to $20 million of its common stock from time to time in the open market and privately negotiated transactions. The Company may make purchases through a 10b5-1 trading plan.

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iStar Financial Inc. is a fully-integrated finance and investment company focused on the commercial real estate industry. The Company provides custom-tailored investment capital to high-end private and corporate owners of real estate and invests directly across a range of real estate sectors. The Company, which is taxed as a real estate investment trust ("REIT"), has invested more than $35 billion over the past two decades. Additional information on iStar Financial is available on the Company's website at www.istarfinancial.com.

SOURCE iStar Financial Inc.