NorthStar teams with Jay Flaherty for healthcare business


NorthStar Realty Finance (NRF) and recently-departed HCP CEO Jay Flaherty enter into a long-term partnership to build a healthcare real estate operation. Flaherty will oversee and seek to grow NorthStar's on-balance sheet healthcare portfolio, raise institutional capital, and become CEO of NorthStar's healthcare real estate non-traded REIT, NorthStar Healthcare Income.

NorthStar expects the partnership will be transferred to the Asset Management unit as part of the previously-announced spinoff of the business.

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