EX-99.2
3
a13-10850_1ex99d2.htm
EX-99.2
Exhibit 99.2
iStar Financial Inc.
1114 Avenue of the Americas
New York, NY 10036
(212) 930-9400
News Release
investors@istarfinancial.com
COMPANY CONTACTS
[NYSE: SFI]
David M. DiStaso
Jason Fooks
Chief Financial Officer
Investor Relations
iStar Financial Completes Sale of LNR
NEW YORK - April 22, 2013
- iStar Financial Inc. (NYSE: SFI) announced today that it has completed the sale of its 24% equity interest in LNR Property LLC ("LNR") and received $220 million in net proceeds. The sale was part of a larger transaction whereby the Company and LNR's other co-owners sold 100% of LNR to Starwood Property Trust Inc. and investment firm Starwood Capital Group for an aggregate purchase price of $1.05 billion.
The Company said that it intends to utilize the net proceeds from the sale of LNR to grow its investment originations activity.
* * *
iStar Financial Inc. (NYSE: SFI) is a fully-integrated finance and investment company focused on the commercial real estate industry. The Company provides custom-tailored investment capital to high-end private and corporate owners of real estate and invests directly across a range of real estate sectors. The Company, which is taxed as a real estate investment trust ("REIT"), has invested more than $35 billion over the past two decades. Additional information on iStar Financial is available on the Company's website at www.istarfinancial.com.
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EX - 99 . 2 3 a13 - 10850 _ 1ex99d2 . htm EX - 99 . 2 Exhibit 99 . 2 iStar Financial Inc . 1114 Avenue of the Americas New York , NY 10036 ( 212 ) 930 - 9400 News Release investors@istarfinancial.com COMPANY CONTACTS [ NYSE : SFI ] David M . DiStaso Jason Fooks Chief Financial Officer Investor Relations iStar Financial Completes Sale of LNR NEW YORK - April 22 , 2013 - iStar Financial Inc . ( NYSE : SFI ) announced today that it has completed the sale of its 24 % equity interest in LNR Property LLC ( " LNR " ) and received $ 220 million in net proceeds . The sale was part of a larger transaction whereby the Company and LNR 's other co - owners sold 100 % of LNR to Starwood Property Trust Inc . and investment firm Starwood Capital Group for an aggregate purchase price of $ 1.05 billion . The Company said that it intends to utilize the net proceeds from the sale of LNR to grow its investment originations activity . * * * iStar Financial Inc . ( NYSE : SFI ) is a fully - integrated finance and investment company focused on the commercial real estate industry . The Company provides custom - tailored investment capital to high - end private and corporate owners of real estate and invests directly across a range of real estate sectors . The Company , which is taxed as a real estate investment trust ( " REIT " ) , has invested more than $ 35 billion over the past two decades . Additional information on iStar Financial is available on the Company 's website at www.istarfinancial.com . # # #