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SFI > SEC Filings for SFI > Form 8-K on 25-Apr-2013All Recent SEC Filings

Show all filings for ISTAR FINANCIAL INC

Form 8-K for ISTAR FINANCIAL INC


25-Apr-2013

Completion of Acquisition or Disposition of Assets, Financial Statements and


Item 2.01. Completion of Acquisition or Disposition of Assets

On April 19, 2013, iStar Financial, Inc. (the "Company") completed the sale of its 24% equity interest in LNR Property LLC ("LNR") and received $220 million in proceeds. The sale was part of a larger transaction whereby the Company and other sellers (together, the "Owners") sold 100% of the common stock of LNR to Starwood Property Trust Inc. and investment firm Starwood Capital Group (together, "Starwood") pursuant to the Unit Purchase Agreement ("Purchase Agreement") entered into by the Owners and Starwood on January 23, 2013 for an aggregate purchase price of $1.1 billion.

On April 22, 2013, the Company issued a press release regarding the completion of the sale of LNR. A copy of this press release is included as Exhibit 99.2 to the Current Report on Form 8-K.



Item 9.01. Financial Statements and Exhibits

(a) Pro forma financial information

See Exhibit 99.1 to this Current Report on Form 8-K.

(b) Exhibits

The following exhibits are filed with this report:

Exhibit
No. Description

99.1 Unaudited Pro Forma Condensed Consolidated Financial Statements of iStar Financial Inc.:
Pro Forma Condensed Consolidated Balance Sheet as of December 31, 2012; Pro Forma Condensed Consolidated Statement of Operations for the year ended December 31, 2012
Notes to Pro Forma Condensed Consolidated Financial Statements

99.2 Press Release


Forward Looking Statements

Certain statements in this report, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives and expected operating results, and the assumptions upon which those statements are based, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which cause actual results or outcomes to differ materially from those contained in the forward-looking statements. We undertake no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. In assessing all forward-looking statements, readers are urged to read carefully all cautionary statements contained in our other SEC filings.


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