| Type | Private |
|---|---|
| Industry | Private equity |
| Founded | 1991 |
| Headquarters | Santa Monica, Los Angeles, California, United States |
| Products | Real estate |
| Website | www.colonyinc.com |
Colony Capital is a private, international investment firm based in Santa Monica, Los Angeles, California. The company, founded in 1991, has over 250 employees operating in 11 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 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.[1] In 2011, Colony was tied for 3rd largest private equity real estate fund in the world, behind Blackstone Group and Morgan Stanley Real Estate.[2]
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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.
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.
On April 10, 2006, it acquired French professional football (soccer) team Paris Saint-Germain.
On February 25, 2007, it signed a definitive agreement to acquire Station Casinos alongside members of the founding Fertitta family for US$5.5 billion, or US$90/share.
On November 11, 2008, Michael Jackson transferred the title of his 2,700 acre[1] 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.[3][4][5][6] It is unclear if the Jackson estate still owns the property.[7] The Santa Barbara County Assessor's Office stated Jackson sold the property for US$35 million.[8][9]
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 the rights to her photographs and negatives and her three Greenwich Village townhouses to her previous lender, ArtCapital. ArtCapital's credit was for $24 million.[1]
In December 2010, Colony purchased Miramax with Qatar Holding and Ron Tutor for $663 million.[10][11]
The traditional investment portfolio at Colony are their investment funds, in which retail investors pool their funds, such as with mutual funds, and includes:
A large part of Colony LLC investment portfolio involves gaming resorts mainly in the United States. Some are joint projects with Accor Casinos.
Colony is also involved in investing in luxury hotels and resorts in Asia and North America:
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