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June 25, 2018 at 12:37 PM EDT
LOS ANGELES, June 25, 2018 -- Colony NorthStar, Inc. (the "Company") (NYSE:CLNS) today announced that it has completed its name change to Colony Capital, Inc. effective today. As part of the name change, the Company is now publicly traded on the New York Stock Exchange under the new ticker symbol "CLNY" and the company's website address has been changed to www.clny.com.
Colony NorthStar Credit Real Estate, Inc. (NYSE: CLNC) also announced that it has completed its name change to Colony Credit Real Estate, Inc. Its ticker symbol and website address remain the same, as "CLNC" and www.clncredit.com, respectively.
Colony Capital was founded in 1991 by Thomas J. Barrack, Jr. as a global diversified real estate investment manager which created a business that combined the best of an entrepreneurial spirit with institutional best practices and risk management. The firm came public through a combination transaction with Colony Financial, Inc. in 2015 and then scaled considerably more through its merger with the NorthStar companies in early 2017 to create Colony NorthStar, Inc. The name change to Colony Capital, Inc. reflects the Company's renewed emphasis of its founding principles, as the Company continues to grow its broader based investment management business, while simultaneously monetizing non-core assets and modestly shrinking the balance sheet through securities repurchases and deleveraging.
About Colony Capital, Inc.
Colony Capital, Inc. (NYSE: CLNY) is a leading global investment management firm with assets under management of $43 billion. The company manages capital on behalf of its stockholders, as well as institutional and retail investors in private funds, non-traded and traded real estate investment trusts and registered investment companies. Colony Capital has significant holdings in: (a) the healthcare, industrial and hospitality property sectors; (b) Colony Credit Real Estate, Inc. (NYSE: CLNC) and NorthStar Realty Europe Corp. (NYSE: NRE), which are both externally managed by subsidiaries of Colony Capital; and (c) various other equity and debt investments. Colony Capital is headquartered in Los Angeles with over 400 employees in offices located across 18 cities in ten countries. For additional information regarding the Company and its management and business, please refer to www.clny.com.
About Colony Credit Real Estate, Inc.
Colony Credit Real Estate, Inc. (NYSE: CLNC) is one of the largest publicly traded commercial real estate (CRE) credit REITs, focused on originating, acquiring, financing and managing a diversified portfolio consisting primarily of CRE senior mortgage loans, mezzanine loans, preferred equity, debt securities and net leased properties predominantly in the United States. Colony Credit Real Estate is externally managed by a subsidiary of leading global investment management firm, Colony Capital, Inc. Colony Credit Real Estate is organized as a Maryland corporation that intends to elect to be taxed as a REIT for U.S. federal income tax purposes for its taxable year ending December 31, 2018. For additional information regarding the Company and its management and business, please refer to www.clncredit.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Factors that could cause actual results to differ materially from Colony Capital, Inc.'s or Colony Credit Real Estate, Inc.'s expectations include, but are not limited to, Colony Capital, Inc.'s ability to grow its broader based investment management business while simultaneously monetizing non-core assets and modestly shrinking the balance sheet through securities repurchases and deleveraging, the timing, amount and manner of securities repurchases, if any, the average portion of equity Colony Capital, Inc. will own in its managed portfolio, the benefits of public company scale and a significant balance sheet, Colony Capital, Inc.'s ability to identify and strategically position platforms around compelling global opportunities and the composition and breadth of its managed portfolio, any adverse changes in the financial health or otherwise of Colony Capital, Inc. that, as external manager, could hinder Colony Credit Real Estate, Inc.'s operating performance and return on stockholder's investment, the ability to realize substantial efficiencies as well as anticipated strategic and financial benefits, and the impact of legislative, regulatory and competitive changes. Additional information about these and other factors can be found in Colony Capital, Inc.'s and Colony Credit Real Estate, Inc.'s, as applicable, reports filed from time to time with the Securities and Exchange Commission.
Colony Capital, Inc. and Colony Credit Real Estate, Inc. each caution their respective investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this press release. Each of Colony Capital, Inc. and Colony Credit Real Estate, Inc. are under no duty to update any of these forward-looking statements after the date of this press release, nor to conform prior statements to actual results or revised expectations, and neither Colony Capital, Inc. nor Colony Credit Real Estate, Inc. intend to do so.
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