Seeking Alpha

NorthStar up sharply after Q4 results

  • "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%

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