NorthStar Puts Up $1B For Health Care Real Estate Assets

Law360, New York (March 17, 2014, 2:51 PM EDT) -- Real estate investment trust NorthStar Realty Finance said Monday that it will acquire part of a $1.05 billion health care real estate portfolio comprising 80 facilities from Formation Capital LLC and Safanad Ltd.

NorthStar and Formation will form a joint venture that will buy the portfolio for $430 million in equity, with NorthStar kicking in 92 percent of this amount, according to the companies. NorthStar credited its new health care real estate head Jay Flaherty with helping arrange this and other investments.

"This transaction represents an...
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