NorthStar/RXR REIT Lowers Advisory Fees, Appoints New General Counsel

NorthStar/RXR New York Metro Real Estate Inc., a publicly registered non-traded real estate investment trust sponsored by Colony NorthStar (NYSE: CLNS) and RXR Realty, has modified its fee structure and changed the fees paid to its advisor and sub-advisor.

Asset management fees were lowered from 1.25 percent to 1.0 percent annually, and both acquisition and disposition fees were eliminated.

In other NorthStar/RXR news, Daniel Drabkin resigned from his role as general counsel and secretary of the REIT, and the board has appointed Ann Harrington to fill the vacancy. Harrington is the general counsel and secretary of non-traded REIT, NorthStar Healthcare Income, and the senior vice president, associate general counsel of Colony NorthStar.

Before joining NorthStar, Harrington served as an associate in the corporate and financial services group of Willkie Farr & Gallagher, where she advised public and private corporate clients on capital markets transactions, mergers and acquisitions, securities laws compliance, corporate governance and other general corporate matters. She holds a bachelor’s degree from Princeton University and a juris doctor from The Ohio State University Moritz College of Law.

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