- The strategic $340M investment in RXR Realty is a combination of corporate debt, preferred equity, and common stock, with NorthStar (NRF) now owning about a 30% stake in the business.
- RXR is a real estate operating and investment management company focused on the NYC Tri-State area.
- "In connection with the recently announced planned spin-off of NorthStar Asset Management, we will be evaluating alternatives for including NorthStar's portion of RXR's asset management business as part of the assets that NorthStar Asset Management will receive in the spin-off," says NorthStar CEO David Hamamoto.
- Press release
NorthStar closes RXR Realty investment
Dec 23 2013, 08:15 ET