The pending Colony Northstar merger (described in prior articles) did not address the future of Northstar Realty Europe (NRE). NRE claims to be undervalued for reasons similar to Northstar Realty Finance (NRF) (see NRE presentation): Share price ($9.86 on 10/27) is well below Net Asset Value independently assessed at $16.64 at 6/30/16. Quarterly dividend of … Continue reading No Real Excitement for Northstar Realty Europe
Activist shareholders of Northstar Asset Management (NYSE:NSAM) have signaled an intention to vote against the proposed three way merger with Colony Capital and Northstar Realty Finance. Background in prior articles Colony Northstar: Will this team of overpaid former all-stars end up like the Brooklyn Nets? describes the merger transaction and the problems at NSAM and Northstar Realty … Continue reading Does the Colony Northstar Merger Offer Fair Value to NSAM Shareholders?