NorthStar up sharply after Q4 results

|About: NorthStar Realty Finance... (NRF)|By:, SA News Editor

"Our partnership with (departed HCP CEO) Jay Flaherty is already adding value and his relationships in the industry were instrumental in landing this negotiated transaction." says NorthStar Realty Finance (NRF +4.4%) CEO David Hamamoto in the Q4 earnings release, noting the company is in the process of closing a $1.05B healthcare real estate portfolio purchase comprised of more than 8.5K beds (boosting its real estate portfolio by about one third).

The spinoff of NorthStar Asset Management remains on track to be completed in Q2.

In other news, the company announces an exchange offer for its 7.50% notes due in 2031, to be exchanged with 3% paper maturing in September. The new notes will - at Company's election - be paid off with cash or common stock.

Q4 results

NRF +4.4%