Colony Capital and two of NorthStar’s companies, NorthStar Realty Finance and NorthStar Asset Management, will be joining forces in a new real estate investment trust (REIT) whose combined assets are estimated at $58 billion, according to Bloomberg.
The new company will be called Colony NorthStar and will be led by executive members of Colony and NorthStar Realty. Each of the three companies in the merger will hold about one third of the conglomerate shares.
NorthStar Realty Finance, one of the busiest real estate investment companies in 2015, made plenty of healthcare deals in the past two years and has at least 50 percent of its portfolio in healthcare-related properties.
The deal is pending shareholders’ approval.