|Exchange:||New York Stock Exchange|
|Stock:||Northstar Realty Finance Corporation|
|Industry:||REIT - Retail|
|NorthStar Realty Finance Corporation is a Maryland corporation formed in October 2003. It is an internally REIT. The Company is a diversified commercial real estate, investment and asset management company. It invests in commercial real estate assets which will generate attractive risk-adjusted returns and engages in asset management activities seeking to generate stable cash flows for distribution to stockholders and build long-term franchise value. The Company is focused on continuing to build its asset management business predominately by raising and managing capital on fee basis from alternate sources, such as in the non-traded REIT sector. NorthStar Realty Finance Corporation is focused mainly on originating, investing in and managing commercial real estate debt, commercial real estate securities and net lease properties. The Company has invested in those areas of commercial real estate finance that enable it to leverage its real estate investment expertise, utilize its capital markets knowledge, and capitalize on its ability to employ innovative financing structures. It conducts its operations to qualify as a REIT for federal income tax purposes. Its real estate debt business has historically focused on originating, structuring and acquiring senior and subordinate debt investments secured mainly by commercial and multifamily properties, including first lien mortgage loans, which are also referred to as senior mortgage loans, junior participations in first lien mortgage loans, which are often referred to as B-Notes, second lien mortgage loans, mezzanine loans and preferred equity interests in borrowers who own such properties. The Company’s real estate securities business has invested in, created and managed portfolios of commercial real estate debt securities, which it has financed by raising third-party capital in transactions structured as CDOs. These securities include CMBS, debt obligations of REITs, mortgage loans backed by credit-rated tenants and term debt transactions backed mainly by commercial real estate securities. Substantially all of its securities investments have explicit credit ratings assigned by at least one of the three nationally-recognized statistical rating agencies, and were typically rated investment grade at the time of purchase. The various types of securities backed by real estate assets that it invests in, including CMBS, fixed income securities issued by REITs and real estate term debt transactions. Its underwriting process for real estate securities is focused on evaluating both the real estate risk of the underlying assets and the structural protections available to the particular class of securities in which it is investing. The Company’s net lease strategy involved investing mainly in office; industrial, retail and healthcare-related properties across the United States are net leased long term to corporate tenants. The Company might also invest in properties leased to tenants for whom it is responsible for some of the operating expenses and capital costs. It owns and manages a portfolio of healthcare net lease assets, a majority of which are assisted living facilities with the remainder comprised of skilled nursing facilities, a medical campus and a medical office building. The Company is subject, in certain instances, to supervision and regulation by state and federal governmental authorities and might be subject to various laws and judicial and administrative decisions imposing various requirements and restrictions.|
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