More on NorthStar results; NSAM spinoff on track

Cash available for distribution of $91.5M or $0.28 per share vs. $74.3M or $0.29 in Q4. Dividend was $0.25 per share.

Spinoff of asset management business (NSAM) remains on track for Q2. "Increasingly excited" about growth opportunities, including expansion into Europe. In Q1, closed a deal for a minority interest in Aerium Group, a European real estate investment manager with $6.2B of AUM. CEO Hamamoto: "We are already evaluating an extensive amount of equity, debt and opportunistic investment opportunities in Europe with the experienced and talented team at Aerium, which we expect to be substantially additive to NorthStar and NSAM following the spin-off."

Hamamoto also notes Q1 results don't fully reflect  earnings power of portfolio thanks to the $1.1B healthcare acquisition closed earlier this week.

CC at 9 ET

Previously: Northstar Realty Finance EPS in-line

NRF no trades premarket

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs