COLONY NORTHSTAR, INC. (NYSE:CLNS) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01. Completion of Acquisition or Disposition of Assets.
the previously announced sale of its manufactured housing
portfolio (the MH Portfolio) consisting of approximately 33,010
pads in 135 communities located in 13 states to BSREP II MH C
LLC, a Delaware limited liability company and an affiliate of a
real estate fund managed by Brookfield Asset Management Inc. The
purchase price received for the MH Portfolio was approximately
$2.0 billion, which resulted in the Company receiving
approximately $664.0 million in net proceeds, as adjusted for
prorations and other reimbursements, for its interest in the MH
Portfolio.
give effect to the disposition of the MH Portfolio and as
required by this Item 9.01 of Current Report on Form 8-K is
presented in Note 4.A>and Note 5.D>in the unaudited pro
forma condensed consolidated financial statements of the Company
for the year ended December 31, 2016 (the “pro forma financial
statements”), filed as Exhibit 99.1 to this Form 8-K and
incorporated herein by reference.
financial statements also give effect to (i) the business
combination between the Company (as successor to NorthStar Asset
Management Group Inc.), Colony Capital, Inc. and NorthStar Realty
Finance Corp. (“NRF”), which was completed on January 10, 2017,
(ii) the cancellation of the NRF management agreement and (iii)
the completion of other NRF sales initiatives.
|
Exhibit No.
|
Description
|
|
|
99.1
|
Unaudited Pro Forma Condensed Consolidated Financial
Statements of Colony NorthStar, Inc. as of and for the year ended December 31, 2016 |
|
About COLONY NORTHSTAR, INC. (NYSE:CLNS)
Colony NorthStar, Inc. is a diversified equity real estate investment trust (REIT). The Company combines a portfolio of real assets across the world, which are managed with a global real estate investment manager. The Company has property holdings in the healthcare, industrial and hospitality sectors, opportunistic equity and debt investments, and an embedded institutional and retail investment management business. In addition, the Company owns NorthStar Securities, LLC, a captive broker-dealer platform which raises capital in the retail market. The Company acquires, develops and operates industrial properties in metropolitan markets throughout the United States with a focus on light industrial buildings. The Company provides investment management services and offers investment products while serving as a fiduciary to a set of institutional and individual investors. COLONY NORTHSTAR, INC. (NYSE:CLNS) Recent Trading Information
COLONY NORTHSTAR, INC. (NYSE:CLNS) closed its last trading session up +0.15 at 13.28 with 2,628,729 shares trading hands.
