Colony NorthStar
 | |
Formerly called | Colony Capital (1991-2017) |
|---|---|
| Public | |
| Traded as | NYSE: CLNS |
| Industry | Private equity real estate |
| Founded | 1991 |
| Founder |
Thomas J. Barrack Jr. Currently Chairman |
| Headquarters | Los Angeles, California, United States |
Number of locations | 17 (2017) |
| Products | Real estate |
| Website |
clns |
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
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 team Paris Saint-Germain.
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
Investment funds
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
A large part of Colony LLC investment portfolio involved gaming resorts mainly in the United States. Some were joint projects with Accor Casinos.
- Resorts International Holdings was created in July 2005 and was headquartered in Las Vegas, Nevada:
Colony was also involved in investing in luxury hotels and resorts in Asia and North America:
Other investments
- Used to co-own the Paris St. Germain football team.[17]
Former properties
References
- ↑ "Colony Capital, Inc - Contact". www.colonyinc.com. Retrieved 2015-08-26.
- 1 2 3 "Private equity firm snaps up chance to help Leibovitz put house in order" by Henny Sender, Financial Times, March 9, 2010 02:00, Retrieved 2010-03-09.
- ↑ Perenews.com Archived 2011-06-26 at the Wayback Machine.
- ↑ "Station Casino Family to Remain in Control". The Wall Street Journal. August 7, 2010.
- ↑ Law360.com
- ↑ Jinks, Beth; Church, Steven (June 17, 2011). "Station Casinos Exits Bankruptcy After Almost Two Years in Chapter 11". Bloomberg.
- ↑ Perenews.com
- ↑ Taletela.com, Michael Jackson's Neverland ranch is sold Archived July 27, 2009, at the Wayback Machine.
- ↑ Tmz.com, Neverland May Be Jacko's Ticket to Vegas
- ↑ Ukpress.google.com, Jacko gives up Neverland ranch deed Archived December 15, 2008, at the Wayback Machine.
- ↑ News.yahoo.com, Michael Jackson gives Neverland to corporation
- ↑ Sbcvote.com Archived 2016-06-11 at the Wayback Machine.
- ↑ Eonline.com, Michael Jackson Lets Neverland Fly Away
- ↑ Smh.com.au, Neverland peters out for pop's Peter Pan
- ↑ Ben Fritz (December 6, 2010). "The Business Behind the Show". Los Angeles Times.
- ↑ Claudia Eller (December 3, 2010). "The Business Behind the Show". Los Angeles Times.
- ↑ "Le Qatar sans limite". Le Parisien. 7 March 2012. Retrieved 7 March 2012.
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