Colony NorthStar

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Colony NorthStar
Formerly called
Colony Capital (1991-2017)
Public
Traded as NYSECLNS
Industry Private equity real estate
Founded 1991; 26 years ago (1991)
Founder Thomas J. Barrack Jr.
Currently Chairman
Headquarters Los Angeles, California, United States
Number of locations
17 (2017)
Products Real estate
Website clns.com

Colony NorthStar is a diversified equity REIT with an embedded institutional and retail investment management business.[1] The company has over 500 employees operating in 17 offices around the world. The company focuses on real estate opportunities around the world either on its own, through funds run by the company, or in joint ventures. In particular, Colony NorthStar invests in real estate and real estate-related debt investments, real estate-dependent operating companies, non-performing loans, distressed assets and select development opportunities throughout the world. The company is run by businessman Thomas J. Barrack, Jr. In 2010, Colony was reported to manage about $30 billion in investments.[2] In 2011, Colony was tied for 3rd largest private equity real estate fund in the world, behind Blackstone Group and Morgan Stanley Real Estate.[3]

History[edit]

Colony purchased Raffles International on July 18, 2005. This included the 41 hotels and resorts operated under the Raffles Hotel and Swissotel brand names. There are plans to expand the chains, particularly in Asia.[citation needed]

On January 30, 2006, it acquired Fairmont Hotels and Resorts of Toronto, Ontario with Kingdom Hotels International as a joint partner for US$3.24 billion.[citation needed]

On April 10, 2006, it acquired French professional football team Paris Saint-Germain.[citation needed]

On February 25, 2007, it signed a definitive agreement to take Station Casinos private in a 75%/25% split with members of the founding Fertitta family for US$5.5 billion, or US$90/share. The subsequent economic downturn caused Station Casinos to declare bankruptcy in 2009, and when it emerged in 2011 Colony Capital owned a much smaller portion after providing more cash.[4][5][6] Founder, Chairman, and CEO Thomas Barrack said it "could have been the worst investment ever" in terms of timing.[7]

On November 11, 2008, Michael Jackson transferred the title of his 2,700 acre[2] estate Neverland Ranch to Sycamore Valley Ranch Company LLC, a joint venture between Jackson (represented by attorney, L. Londell McMillan) and an affiliate of Colony Capital.[8][9][10][11] It is still unclear whether Colony Capital has a part in the property.[12] Jackson earned a total of US$35 million when he agreed to the joint venture between himself and Colony Capital.[13][14]

In March 2010, Colony arranged a financing and marketing package for Annie Leibovitz. The New York celebrity photographer had been in financial difficulty and in danger of losing to her previous lender, ArtCapital, the rights to her photographs and negatives and her three Greenwich Village townhouses. ArtCapital's credit was for $24 million.[2]

In December 2010, Colony purchased Miramax from Disney with Qatar Investment Authority, Tutor-Saliba Corporation and The Weinstein Company as part of a joint venture called Filmyard Holdings for $663 million.[15][16]

In January 2017, Colony NorthStar, Inc. (NYSE: CLNS) was formed through a tri-party merger between Colony Capital, Inc. (NYSE:CLNY), NorthStar Asset Management Group Inc. (NYSE:NSAM) and NorthStar Realty Finance Corp. (NYSE:NRF).

Types of investments[edit]

Investment funds[edit]

The traditional investment portfolio at Colony are their investment funds, in which retail investors pool their funds, such as with mutual funds, and includes:

  • Colony II
  • Colony III
  • Colony IV
  • Colony V
  • Colony VI
  • Colony VII
  • Colony VIII
  • Colony Distressed Debt Fund, L.P.
  • Colony Distressed Debt Fund II, L.P.
  • Colony Asia Investors I, L.P.
  • Colyzeo Investors, L.P.
  • Colyzeo Investors II, L.P.
  • Colony Realty Partners L.P.
  • Colony Realty Partners II, L.P.
  • Colony Realty Partners III, L.P.
  • Colony American Homes

Casinos and hotels[edit]

A large part of Colony LLC investment portfolio involved gaming resorts mainly in the United States. Some were joint projects with Accor Casinos.

Colony was also involved in investing in luxury hotels and resorts in Asia and North America:

Other investments[edit]

Former properties[edit]

References[edit]