NEW YORK, April 14, 2011 /PRNewswire/ -- NorthStar Realty Finance Corp. ("NorthStar") (NYSE: NRF) today announced that Daniel Gilbert, Chief Investment Officer, and Albert Tylis, Chief Operating Officer, have both been promoted to the newly created Co-President position.
In making the announcement, David Hamamoto, Chairman and Chief Executive Officer, commented, "Both Al and Dan have done an outstanding job for the organization and have been an integral part of NorthStar's success. Their leadership will be instrumental as we continue to execute upon our business initiatives. I look forward to new and exciting opportunities ahead and growing our business together."
Mr. Gilbert will remain NorthStar's Chief Investment Officer and Mr. Tylis will remain NorthStar's Chief Operating Officer.
About NorthStar Realty Finance Corp.
NorthStar Realty Finance Corp. is a finance REIT that primarily originates and invests in commercial real estate debt, real estate securities and net lease properties. For more information about NorthStar Realty Finance Corp., please visit www.nrfc.com.
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. 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 SEC reports. 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, 2010. 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.
SOURCE NorthStar Realty Finance Corp.