NorthStar Realty Prices Public Offering Of Common Stock

(RTTNews) - NorthStar Realty Finance Corp. (NRF) Thursday priced an underwritten public offering of 50 million shares of common stock at an offering price of $11.65 per share.

The company has granted the underwriters a 30-day option to purchase up to 7.5 million additional shares of common stock.

The offering is expected to close on December 17.

The company intends to use the net proceeds of the offering to:

- fund the cash portion of the purchase price for the acquisition of an about $400 million portfolio of manufactured housing communities that it currently has under contract

- and make other potential investments relating to its business, which may include (i) an about $350 million debt and equity investment in a strategic joint venture with a New York tri-state area focused real estate owner and asset manager, (ii) the acquisition of limited partnership interests in real estate private equity funds, among others.