Colony NorthStar

Barrack s Colony NorthStar reports rocky end to 2017 The company reported Q4 net losses of $368 million

Thomas Barrack (Credit: Getty Images, Pixabay)

It’s been a bumpy road for Colony NorthStar.

The real estate investment and management firm reported a net fourth-quarter loss of $368.1 million and 2017 net losses of $333.1 million.

In a statement, the company’s president and chief executive, Richard Saltzman, called 2017 a “disappointing year.”

Colony reported a 3.2 percent drop in revenue and a 1 percent di上海同城对对碰交友社区

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p in net operating income for its health care portfolio of stores in the second half of 2017. Saltzman listed a difficult healthcare environment among the reasons for the dip. The company al上海贵族宝贝论坛

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so attributed the losses to lower occupancy in senior housing properties, and to expenses related to the devastation caused by Hurricane Harvey.

By the end of the year, the company had 309 primarily light industrial buildings with 43.3 million square feet of rentable space. It was 95 percent leased, according to its filing with the U.S. Securities and Exchange Commission.

Colony NorthStar, led by chair Tom Barrack, also reported 167 properties, 97 select-service properties, 66 extended stay properties and four full-service properties in its hospitality portfolio at the end of the year.

The company raised $280 million of third-party capital during the fourth quarter.

Colony NorthStar is the result of $19.9 billion merger between Colony Capital, NorthStar Realty Finance and NorthStar Asset Management, according to Real Estate Alert. NorthStar Asset Management acquired NorthStar Realty for $12.4 billion. Colony NorthStar acquired Colony Capital for $6.7 billion.

In May, The Real Deal learned that Colony NorthStar was the equity partner behind the purchase of One California Plaza in Downtown L.A. The building was acquired by Rising Realty Partners, which entered contract in March to purchase the 42-story building for $465 million.

Barrack is a close friend of President Trump and orga上海千花社区

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zed his inauguration events. H新爱上海同城对对碰论坛

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e recently made the news for turning down an opportunity to be Trump’s chief of staff because he was “too rich,” according to a Bloomberg report.

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