Northstar Realty Finance Announces $500 Million Stock Repurchase Program

NEW YORK, Sept. 29, 2015 /PRNewswire/ -- NorthStar Realty Finance Corp. (NYSE: NRF) ("NorthStar Realty") today announced that its Board of Directors has authorized the repurchase of up to $500 million of its outstanding common stock. 

The repurchases will occur from time to time in the open market and/or in privately negotiated transactions as market conditions permit. The authorization will expire in 12 months, unless otherwise extended by NorthStar Realty's Board of Directors.  The repurchase program will be utilized at management's discretion and in accordance with the requirements of the Securities and Exchange Commission.  The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate requirements and other conditions.

About NorthStar Realty Finance Corp.

NorthStar Realty Finance Corp. (NYSE: NRF) is a diversified commercial real estate company that is organized as a REIT. NorthStar Realty has announced a plan to spin-off its European real estate business into a separate publicly-traded REIT. NorthStar Realty is managed by an affiliate of NorthStar Asset Management Group Inc. (NYSE: NSAM), a global asset management firm.  For more information about NorthStar Realty Finance Corp., please visit www.nrfc.com.

Safe Harbor Statement

Certain items in this press release may constitute forward-looking statements, which can be identified by words like "expect," "will," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; NorthStar Realty can give no assurance that its expectations will be attained, including any expectation regarding payment of dividends. Forward-looking statements are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying any forward-looking statements will not materialize or will vary significantly from actual results. Variations of assumptions and results may be material. Factors that could cause actual results to differ materially from NorthStar Realty's expectations include, but are not limited to, the timing, amount and manner of stock repurchases, if any, as well as any restrictions related thereto; and the ability to realize any benefit from the stock repurchase program. Factors that could cause actual results to differ materially from those in the forward-looking statements are specified in NorthStar Realty's Annual Report on Form 10-K for the year ended December 31, 2014 and its other filings with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release. NorthStar Realty expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

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SOURCE NorthStar Realty Finance Corp.