{"id":1004162592,"date":"2016-12-27T09:05:48","date_gmt":"2016-12-27T17:05:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004162592"},"modified":"2022-12-08T17:44:19","modified_gmt":"2022-12-09T01:44:19","slug":"colony-northstar-merger-wins-stockholder-approval","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/colony-northstar-merger-wins-stockholder-approval\/","title":{"rendered":"Colony-NorthStar Merger Wins Stockholder Approval"},"content":{"rendered":"

By Scott Baltic<\/p>\n

\"\"<\/a>

Thomas Barrack Jr.,\u00a0executive chairman of Colony<\/p><\/div>\n

Los Angeles and New York<\/strong>\u2014Following the early June announcement that the three companies would merge, the shareholders of Colony Capital Inc., NorthStar Asset Management Group Inc. and NorthStar Realty Finance Corp. have voted to approve the merger, the companies revealed last week.<\/p>\n

Reportedly the largest CRE merger of 2016, the transaction will create Colony NorthStar Inc., an equity REIT and global alternative investment manager with $58 billion in assets under management. The new company will trade on the NYSE under symbol \u201cCLNS.\u201d<\/p>\n

With a pro-forma equity market capitalization exceeding $8 billion, Colony NorthStar is expected to be in the top quartile of equity REITs as measured by market cap, according to the MSCI U.S. REIT Index (RMZ) classification. It will manage capital on behalf of its stockholders and institutional and retail investors in private funds and non-traded and traded REITs and 1940 Act companies.<\/p>\n

Colony Capital did not respond to Commercial Property Executive<\/em>\u2019s request for additional information.<\/p>\n

Through increased scale and a more diversified and stable investment portfolio, CLNS reportedly will benefit from \u201ca stronger balance sheet; ongoing deleveraging and improved liquidity; broadened access to multiple sources of capital, including fee-bearing capital to accelerate growth and provide enhanced returns to shareholders; and significant continuing cost savings as a result of the merger.\u201d<\/p>\n

\u201cThis merger is the result of decades of long line relationships by all three companies aligning into one powerful, global real-estate and real asset investment manager,\u201d Thomas J. Barrack, Jr., executive chairman of Colony, said in a prepared statement. He will continue as executive chairman at CLNS.<\/p>\n

David T. Hamamoto, executive chairman of NSAM and chairman of NRF, will be executive vice chairman of CLNS, and Richard B. Saltzman, CEO of Colony, will be CEO of CLNS.<\/p>\n

The merger is expected to close next month.<\/p>\n

Photo: Jin Lee\/Bloomberg<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The companies expect to close the merger next month.<\/p>\n","protected":false},"author":882,"featured_media":1004162595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,23891,21742],"tags":[33283,32954,33284],"class_list":["post-1004162592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-national","category-latest","tag-colony-capital-inc","tag-northstar-asset-management-group-inc","tag-northstar-realty-finance-corporation"],"acf":[],"yoast_head":"\nColony-NorthStar Merger Wins Stockholder Approval - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/colony-northstar-merger-wins-stockholder-approval\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Colony-NorthStar Merger Wins Stockholder Approval\" \/>\n<meta property=\"og:description\" content=\"The companies expect to close the merger next month.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/colony-northstar-merger-wins-stockholder-approval\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-12-27T17:05:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:44:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/thomas-barrack.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2500\" \/>\n\t<meta property=\"og:image:height\" content=\"1767\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/colony-northstar-merger-wins-stockholder-approval\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/colony-northstar-merger-wins-stockholder-approval\/\",\"name\":\"Colony-NorthStar Merger Wins Stockholder Approval - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/colony-northstar-merger-wins-stockholder-approval\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/colony-northstar-merger-wins-stockholder-approval\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/thomas-barrack.jpg\",\"datePublished\":\"2016-12-27T17:05:48+00:00\",\"dateModified\":\"2022-12-09T01:44:19+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/colony-northstar-merger-wins-stockholder-approval\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/colony-northstar-merger-wins-stockholder-approval\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/colony-northstar-merger-wins-stockholder-approval\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/thomas-barrack.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/12\/thomas-barrack.jpg\",\"width\":2500,\"height\":1767,\"caption\":\"Thomas Barrack, chairman of private-equity firm Colony Capital LLC, speaks during an interview in New York, U.S., on Thursday, Sept. 30, 2010. 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