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NorthStar Raised $531 Million in Equity Capital During Q4

NorthStar Asset Management Group (NSAM) announced its fourth quarter results this morning and will host an earnings call at 11am Eastern Standard Time. Highlights for the quarter include equity capital raised of $531 million for its non-traded REIT business and $1.2 billion for all of 2014 plus several significant acquisitions including a 44% interest in American Healthcare Investors (AHI), which co-sponsors Griffin-American Healthcare REIT III, Inc., a healthcare focused non-traded REIT.

“2014 was a successful inaugural year for NSAM. Our spin-off from NorthStar Realty unlocked significant value for shareholders and created a premier asset manager with a fast growing global presence,” commented David T. Hamamoto, chairman and chief executive officer.

In regards to the non-traded investments platform, Hamamoto says, “The capital raising momentum in active offerings continues to be strong highlighted by a record year in 2014 with $1.2 billion raised in our managed non-traded REITs. In January 2015, NorthStar Healthcare successfully completed its initial offering with $1.1 billion raised in total, including $120 million in only 12 days in January.”

“As we look forward into 2015 we are optimistic about our position in the non-traded market and our ability to raise substantial amounts of capital given our proven institutional track record and diverse product line up, which includes the $700 million follow-on offering for NorthStar Healthcare that was declared effective by the SEC earlier this month, the $2.0 billion NorthStar/RXR New York Metro that we are co-sponsoring with RXR Realty, which was recently declared effective by the SEC and the $1.0 billion NorthStar Corporate Income BDC that we are co-sponsoring with Och-Ziff Capital, which submitted its initial registration statement in the fourth quarter 2014,” added Hamamoto.

NSAM will host a conference call this morning at 11am Eastern Standard Time broadcast over the web via and over the phone. Dial 888.539.3696 and enter passcode 6320291 for access.