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NRF > SEC Filings for NRF > Form 8-K on 8-Apr-2013All Recent SEC Filings

Show all filings for NORTHSTAR REALTY FINANCE CORP. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for NORTHSTAR REALTY FINANCE CORP.


8-Apr-2013

Completion of Acquisition or Disposition of Assets, Regulation FD


Item 2.01 Completion of Acquisition or Disposition of Assets.

On April 5, 2013, NorthStar Realty Finance Corp. (the "Company"), through a subsidiary, completed its previously announced acquisition of a manufactured housing portfolio comprised of 71 communities containing approximately 17,000 pad rental sites located throughout five states (primarily in Florida and Salt Lake City, Utah) for an aggregate purchase price of $865 million, inclusive of all costs, escrows and reserves. The Company purchased the portfolio from ARC Real Estate Holdings, LLC and its $30 million deposit was applied to the aggregate purchase price at closing. The Company structured the acquisition as a joint venture with the same third party operating partner that is currently managing the Company's existing portfolio of manufactured housing communities. The Company funded substantially all of the capital to consummate the transaction and will also control the joint venture. The Company's joint venture obtained $640 million of 10-year, non-recourse financing, subject to customary exceptions, in connection with the acquisition. The financing has a fixed interest rate of 4.02% and is secured by first lien mortgages on the manufactured housing communities.



Item 7.01 Regulation FD Disclosure.

The Company has furnished a press release related to the acquisition discussed in Item 2.01 of this Current Report on Form 8-K as Exhibit 99.1.

The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 furnished pursuant to Item 9.01, shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section. Furthermore, the information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 furnished pursuant to Item 9.01, shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended.




Item 9.01 Financial Statements and Exhibits.

(a) Financial Statements of Businesses Acquired.

The financial statements required by Item 9.01(a) of Form 8-K will be filed by an amendment to Current Report on Form 8-K/A no later than 71 calendar days after the date this Current Report on Form 8-K is required to be filed.

(b) Pro Forma Financial Information.

The pro forma financial information required by Item 9.01(b) of Form 8-K will be filed by an amendment to Current Report on Form 8-K/A no later than 71 calendar days after the date this Current Report on Form 8-K is required to be filed.

(d) Exhibits

Exhibit
Number                Description

   99.1   Press Release, dated April 8, 2013.


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