Jay Flaherty pays dividends for NorthStar

|By:, SA News Editor

NorthStar Realty Finance (NRF -0.4%) agrees to buy a healthcare real estate portfolio consisting of 43 private-pay senior housing facilities and 37 skilled nursing facilities from two private groups for $1.05B. The deal had been talked about during Northstar's Q4 earnings call last month, and - when closed - will grow the company's healthcare property portfolio value by about 65%.

CEO David Hamamoto: "Since joining our healthcare real estate team only two months ago, Jay Flaherty has sourced an investment pipeline through his relationships in the industry that is adding significant value to the NorthStar franchise."

From January: Ousted HCP chief Jay Flaherty joins Northstar to build healthcare real estate operation.