NorthStar Realty Finance Announces Public Offering of $50 million of its new Series C Preferred Stock

NEW YORK, Oct. 3, 2012 /PRNewswire/ -- NorthStar Realty Finance Corp. (NYSE: NRF) (the "Company") announced today that it has commenced an underwritten public offering of $50 million of its new Series C Preferred Stock.  The Company expects to grant the underwriters a 30-day option to purchase up to an additional $7.5 million of its Series C Preferred Stock solely to cover over-allotments, if any.

UBS Investment Bank and Citigroup are acting as the joint book-running managers of the offering.  Barclays, Deutsche Bank Securities and Stifel Nicolaus Weisel are acting as the co-lead managers of the offering and JMP Securities, MLV & Co. and Sterne Agee are acting as the co-managers of the offering.

The Company intends to use the net proceeds of the offering to make investments relating to its business, to repurchase or pay its liabilities and for general corporate purposes.

A registration statement relating to the offered securities has been declared effective by the Securities and Exchange Commission ("SEC"). The offering is being made only by means of a prospectus supplement and accompanying base prospectus. Copies of the preliminary prospectus supplement and the related prospectus for the proposed offering may be obtained by contacting: UBS Securities LLC, Attention: Prospectus Specialist, 299 Park Avenue, New York, NY 10171 or by calling (877) 827-6444, extension 561 3884 or by contacting Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling (800) 831-9146, or by emailing batprospectusdept@citi.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the shares, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

About NorthStar Realty Finance Corp.

NorthStar Realty Finance Corp. is a finance REIT that originates, acquires and manages portfolios of commercial real estate debt, commercial real estate securities and net lease properties.  In addition, NorthStar engages in asset management and other activities related to real estate and real estate finance.

Safe-Harbor Statement

Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words like "expect," "intend" and similar expressions. 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; the Company can give no assurance that its expectations will be attained. Forward-looking statements are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying any forward-looking statements will not materialize or will vary significantly from actual results. Variations of assumptions and results may be material. Factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, changes in economic conditions generally and the real estate and bond markets specifically, completion of the offering on the terms described in the registration statement, the prospectus supplement relating to this offering and the accompanying prospectus, if at all, and use of proceeds from the sale of the Series C Preferred Stock. Factors that could cause actual results to differ materially from those in the forward-looking statements are specified in the Company's Annual Report on Form 10-K for the year ended December 31, 2011 and its other filings with the SEC. Such forward-looking statements speak only as of the date of this press release. The Company 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.

SOURCE NorthStar Realty Finance




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