More on iStar results

• The company shows continued progress on cutting its non-performing loans, with end-of-year NPLs of $203.6M vs. $235.3 at the end of Q3, and $503.1M a year earlier. For Q4, the company took a loan-loss provision of just $100K vs. $20.9M a year ago.
• The performing loan portfolio size is $1.2B with average LTV of 72% and weighted average maturity of 2.8 years.
• As for putting capital to work, iStar (NYSE:STAR) funded $218.2M of new investments during the Q. Thus far in 2014, the company has formed a JV with a sovereign wealth fund, with the partners planning to contribute up to a total of $500M in equity to acquire and develop up to $1.25B in net lease assets over time. The first investment is a 410K square foot office and data campus in suburban D.C. net leased to AT&T through 2025.
• CC at 10 ET
• Press release, Q4 results