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NorthStar to sell $75 million in stock

By Associated Press
May 21, 2008 | Comments (0)

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NorthStar Realty Finance Corp. expects to sell $75 million of a special class of stock to raise cash for investments, the real estate investment fund said Wednesday.

Northstar's subsidiary, NRFC NNN Holdings LLC, will sell $75 million of stock that will pay an annual dividend until 2013. At the company's option, the stock can be converted to cash or Northstar's common stock.

The subsidiary runs the company's non-health care properties.

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