Business & Finance
Business and Finance
Business and Finance
Mon, June 27, 2011
Sun, June 26, 2011
Fri, June 24, 2011 
LOS ANGELES--([ BUSINESS WIRE ])--Colony Financial, Inc. (NYSE: CLNY) (the aCompanya) announced today that on or about June 17, 2011, the Company, together with investment funds managed by affiliates of its Manager, committed to acquire a portfolio of 631 performing and non-performing loans with an unpaid principal balance of approximately $384.4 million from a U.S. commercial bank. The purchase price for the portfolio is approximately $197.4 million, or approximately 51% of the portfolioa™s unpaid principal balance, and the portfolio consists of substantially all first mortgage, recourse loans. The portfolio will be acquired unleveraged and is expected to close on or before June 30, 2011.The Companya™s pro rata share of the purchase price is approximately $65 million, which represents a 32.5% interest.The 631-loan portfolio is approximately 50% performing and 50% non-performing and is geographically concentrated in the Midwest.
About Colony Financial, Inc.
Colony Financial, Inc. is a real estate finance and investment company that is focused primarily on acquiring and originating commercial real estate loans and real estate-related debt at attractive risk-adjusted returns. Secondary debt purchases may include performing, sub-performing or non-performing loans (including loan-to-own strategies). Colony Financial has elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes. Colony Financial is a component of the Russell 2000® and the Russell 3000® indices. For more information, visit[ www.colonyfinancial.com ].
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company's control, that may cause actual results to differ significantly from those expressed in any forward-looking statement. Statements regarding the following subjects, among others, may be forward-looking: the possibility that the pending loan sale transaction might not close within the time frame anticipated or at all; the Companya™s business and investment strategy; use of available proceeds of the Companya™s follow-on public offering; expected co-investment allocations and related requirements; the Company's ability to maintain its qualification as a REIT for U.S. federal income tax purposes; and the Company's ability to maintain its exemption from registration under the 1940 Act.
All forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2010 filed with the Securities and Exchange Commission on March 7, 2011, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.
