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NorthStar Prices Stock at $9 Per Share

NEW YORK CITY-Joining the ever-growing list of REITs filing IPO's, NorthStar, based here, prices 20 million shares of common stock at $9 per share.

By Barbara Jarvie | Updated on October 26, 2004

NEW YORK CITY-NorthStar Realty Finance Corp. prices its initial public offering of 20 million shares of common stock at $9 per share. NorthStar also granted the underwriters of the offering a 30-day option to purchase up to three-million additional shares at the IPO price to cover any over-allotments.

NorthStar’s common stock will be listed on the New York Stock Exchange under the symbol “NRF.” The shares are being offered through Friedman, Billings, Ramsey & Co. Inc., which is serving as lead manager, and Deutsche Bank Securities Inc., Credit Suisse First Boston LLC and JMP Securities LLC, which are acting as co-managers.

NorthStar Realty Finance Corp. is a locally based internally managed REIT that makes fixed income, structured finance and net lease investments in commercial real estate assets. NorthStar Realty’s business consists of three core business lines: subordinate real estate debt, real estate securities and net lease properties.

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