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August 7, 2014
07:38 EDTNRFNorthstar Realty reports Q2 net loss (42c), compared to (13c) a year ago
Second quarter 2014 net loss includes $(52.7) million of non-cash fair value adjustments primarily related to an increase in the fair value of our consolidated CDO liabilities, compared to $(41.9) million of non-cash fair value adjustments for the second quarter 2013; Reports Q2 CAD 58c. Report Q2 revenue $119.36M, compared to $65.21M a year ago.
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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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