Colony Capital Announces Partial Sale of Tolka Irish Asset Portfolio
April 15, 2021 at 4:34 PM EDT
Sale of Two Dublin Office Properties Generated $102 Million in Net Equity Proceeds to Colony
Advances Colony Capital’s Other Equity and Debt (OED) Monetizations, Providing Additional Capital to Fuel Digital Investments
BOCA RATON, Fla.--(BUSINESS WIRE)--Apr. 15, 2021--
Colony Capital, Inc. (NYSE: CLNY) (“Colony” or the “Company”) today announced the monetization of additional Other Equity and Debt (“OED”) portfolio holdings. The Company sold its 74% controlling interest in two high-quality office properties located in Dublin’s city center for total gross proceeds of $351 million (€292 million) to Blackstone Property Partners Europe Holdings S.à.r.l.
The sale of the Company’s interests in Burlington Plaza, a 238K square foot office complex located in central Dublin, and The Three Building, a 157K square foot office property located in the South Docks, generated $102 million in net equity proceeds to Colony. These interests were held in the Company’s ‘Tolka Irish NPL Portfolio’ within OED, which will continue to own several Irish assets on a debt-free basis subsequent to the transaction, which was consummated in-line with carrying values for the assets.
Gross and net proceed figures reflect Euro/USD foreign exchange pricing as of April 15, 2021.
About Colony Capital
Colony Capital, Inc. (NYSE: CLNY) is a leading global investment firm with a heritage of identifying and capitalizing on key secular trends in real estate. The Company manages a $52 billion portfolio of real assets on behalf of its shareholders and limited partners, including $30 billion in digital real estate investments through Digital Colony, its digital infrastructure platform. Colony Capital, structured as a REIT, is headquartered in Boca Raton with key offices in Los Angeles, New York, and London, and has over 350 employees across 17 locations in 12 countries. For more information on Colony Capital visit www.clny.com.
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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 might cause such a difference include, without limitation, the Company’s ability to continue to execute its digital transformation and other risks and uncertainties, including those detailed in Colony Capital's Annual Report on Form 10-K for the year ended December 31, 2020, and its other reports filed from time to time with the U.S. Securities and Exchange Commission (“SEC”). All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Colony Capital cautions investors not to unduly rely on any forward-looking statements.
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Managing Director, Head of Public Investor Relations
Source: Colony Capital, Inc.