NEW YORK, Dec. 13, 2005 (PRIMEZONE) -- NorthStar Realty Finance Corp. (NYSE:NRF) announced today that it has closed its public offering of 9,200,000 shares of its common stock, which includes 1,200,000 shares of common stock purchased by the underwriters in connection with the full exercise of their over-allotment option. The company received approximately $79.4 million in net proceeds from the sale of the shares, after deducting underwriting discounts and offering expenses.
The underwriting group for the offering was jointly led by Friedman, Billings, Ramsey & Co., Inc. and Banc of America Securities LLC. JMP Securities LLC acted as a co-manager for the offering.
A copy of the prospectus relating to this offering may be obtained from: Friedman, Billings, Ramsey & Co., Inc., 1001 19th Street North, Arlington, Virginia 22209, Banc of America Securities LLC, 100 West 33rd Street, 3rd Floor, New York, New York 10001, or JMP Securities LLC, 600 Montgomery Street, Suite 1100, San Francisco, California 94111.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The offering of these securities is made only by means of a prospectus.
About NorthStar Realty Finance Corp.
NorthStar Realty Finance Corp. is an internally managed REIT that makes investments 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 management's 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 Realty's 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 Realty's periodic reports filed with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release. 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.