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News and Information Article
NEW YORK, Jan. 29 /-FirstCall/ -- NorthStar Realty Finance
Corp. (NYSE: NRF) announced today the launch of an underwritten public
offering of Series B Cumulative Redeemable Preferred Stock.
Bear, Stearns & Co. Inc. and Wachovia Securities are the joint
book-running managers for the offering and RBC Capital Markets and Stifel
Nicolaus are the co-managers for the offering. The underwriters are
expected to be granted a 30-day over-allotment option to purchase
additional shares of Series B Cumulative Redeemable Preferred Stock to
cover over-allotments.
The offering of the shares of Series B Cumulative Redeemable Preferred
Stock will be made only by means of a prospectus supplement and
accompanying prospectus. When available, copies of the prospectus
supplement and accompanying prospectus may be obtained from Bear, Stearns &
Co. Inc., ATTN: Prospectus Department, 1 Metrotech Center North, 5th Floor,
Brooklyn, NY 11201, or Wachovia Securities, ATTN: Prospectus Department,
8739 Research Drive, Charlotte, North Carolina 28262, or by calling
866-289-1262.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the offered shares, and none of these
shares may be sold in any state in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state.
About NorthStar Realty Finance Corp.
NorthStar Realty Finance Corp. is an internally managed REIT that
originates and invests in commercial real estate debt, real estate
securities and net lease properties.
Forward Looking Statements
Certain items in this press release may constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of 1995. These statements are based on managements current
expectations and beliefs and are subject to a number of trends and
uncertainties that could cause actual results to differ materially from
those described in the forward-looking statements. NorthStar Realty can
give no assurance that its expectations will be attained. Factors that
could cause actual results to differ materially from NorthStar Realtys
expectations include, but are not limited, to changes in economic
conditions generally and the real estate and bond markets specifically,
legislative or regulatory changes (including changes to laws governing the
taxation of REITs), availability of capital, interest rates and interest
rate spreads, policies and rules applicable to REITs, the continued service
of key management personnel, the effect of competition in the real estate
finance industry, the costs associated with compliance and corporate
governance, including the Sarbanes-Oxley Act and related regulations and
requirements, and other risks detailed from time to time in NorthStar
Realtys periodic reports filed with the Securities and Exchange
Commission. Such forward-looking statements speak only as of the date of
this press release. Additional information concerning these and other
important risks and uncertainties can be found under the heading
"Forward-Looking Statements" and "Risk Factors" in the Companys Annual
Report on Form 10-K for the fiscal year ended December 31, 2005, under the
heading "Risk Factors" in the Companys prospectus dated April 26, 2006 and
prospectus supplement dated January 29, 2007. NorthStar Realty expressly
disclaims any obligation to release publicly any updates or revisions to
any forward-looking statements contained herein to reflect any change in
its expectations with regard thereto or change in events, conditions or
circumstances on which any statement is based.
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