NPLs drop sharply at iStar Financial

Adjusted income of $28.9M or $0.34 per share vs. $4.4M and $0.05 one year ago.

After $1.32B unsecured debt offering in Q2, secured debt now represents just 16% of total debt, down from 49% ahead of the deal.

Non-performing loans carrying value of $94M fall 54% from the end of Q1.

New originations during quarter totaled $117M.

STAR +1.4%

Previously: iStar Financial EPS of $0.34

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