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Stock Market & Financial Investment News

News Breaks
January 15, 2013
07:10 EDTNRFNorthstar Realty price target raised to $9 from $7 at JMP Securities
After attending a roadshow with Northstar, JMP Securities increased its target on the company as the firm has a positive view of the company's joint venture investment in commercial real estate private equity and its new non-traded REIT product. The firm recommends buying the stock at current levels.
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September 18, 2014
08:17 EDTNRFNorthstar Realty and Chatham Lodging to acquire $1.1B hotel portfolio
NorthStar Realty (NRF) has entered into a definitive agreement to acquire a $1.1B hotel portfolio from Inland American Real Estate Trust. The Portfolio is comprised of 52 upscale extended stay and select service hotels with approximately 7,000 rooms. NorthStar Realty is acquiring the Portfolio in a joint venture with Chatham Lodging (CLDT) where NorthStar Realty will have an approximate 90% ownership interest in the Portfolio and Chatham will own an approximate 10% minority interest. NorthStar Realty expects to obtain non-recourse financing for approximately 70-75% of the purchase price and earn an initial mid-teens cash-on-cash yield, based on estimated year-one NOI. The Portfolio is geographically diverse and located across 21 states.
08:06 EDTNRFChatham Lodging announces multiple hotel investments
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