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Coming Soon – A New NYC focused REIT

NorthStar/RXR New York Metro Income, Inc. recently announced that it has confidentially submitted a draft registration statement to the SEC on form S-11 in regards to its $2 billion initial public offering of common stock.

The company intends to qualify as a non-traded REIT.

NorthStar Asset Management Group, Inc., the successor of NorthStar Realty Finance Corp.’s asset management business, will co-sponsor the fund with RXR Realty, LLC, which is a real estate company with a strong presence in New York. NorthStar Realty completed a $340 million investment in RXR in December 2013, giving NorthStar approximately 30% ownership interest in RXR. 

NorthStar and RXR Realty intend to make commercial real estate investments in the New York City Metropolitan area with the proceeds from the offering.

The offering will commence after the SEC completes its review process.