:quality(75))
Colony Capital has inked a deal to merge with NorthStar Asset Management and NorthStar Realty Finance to form a new REIT called Colony NorthStar, which will have a total of $58B assets under management.
Colony Capital founder and chair Thomas Barrack said a major goal of the merger is to create a more competitive company in the marketplace, Private Equity Real Estate News reports.
“I think we’re amazingly positioned for the next round of scrutiny to come from that institutional market, which wants scale, athletes, proprietary deal sourcing and other verticals,” he said on a Friday morning analyst call.
The new company would rank fifth among global independent real estate managers, behind Brookfield with $144B in real estate, Blackstone with $101B, CBRE Global Investors with $90B and Invesco with $64B. [PERENews]
)
)
)
)
)
)
)
)
)
){kind=logo}
)
)