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NorthStar Realty in Process of Selling Nearly $3 Billion in Assets

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As it prepares for a previously announced three-way merger with Colony Capital Inc. and NorthStar Asset Management Group Inc., NorthStar Realty Finance Corp. reported this week it is well on its way to disposing of nearly 20% of its portfolio of CRE investments.

The three firms agreed in June to combine and create an equity REIT with $58 billion of assets under management. At that AUM, the new entity would rank as the fifth-largest independent…

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