Colony Capital completes NorthStar Realty Europe sale
Summary
“The Colony team led by Mahbod Nia has done a tremendous job in stewarding NRE’s high-quality European assets and managing a very challenging process which has concluded with a win for all parties. The closing of this transaction represents another great milestone of accomplishment for our strategy to arbitrage public and private markets, and simplify our story and balance sheet, and we plan on using the proceeds from this transaction to continue to right-size our capital structure and invest in digital growth businesses as we transform into the leading operator, investment manager, and capital provider in the digital infrastructure industry,” said Thomas J. Barrack, Jr., Chairman and CEO of Colony. The Company is headquartered in Los Angeles with key offices in Boca Raton, New York, Paris and London, and has over 450 employees across 21 locations in 13 countries as a result of the business combination with Digital Bridge. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. Factors that might cause such a difference include, without limitation, whether the Company will complete the sale of the industrial platform within the timeframe anticipated or at all, including the Company’s ability to obtain any necessary consents for the bulk transaction, the Company’s strategic focus and ability to execute on its plans, the Company’s leverage, the timing and amount of monetization of the Company’s legacy assets, the use of proceeds received from monetization transactions, the Company’s portfolio mix, and other risks and uncertainties detailed in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”).