iStar Financial Repurchases $109 Million of Unsecured Notes

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^{Published in Business and Finance on Tuesday, March 20th 2012 at 4:46 GMT by Market Wire}  

iStar Financial Repurchases $109 Million of Unsecured Notes -- NEW YORK, March 20, 2012 /PRNewswire/ --

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NEW YORK, March 20, 2012 /PRNewswire/ -- iStar Financial Inc. (NYSE: [ SFI ]) announced today that it has agreed to repurchase $109 million aggregate principal amount of its convertible notes due October 2012 from an institutional investor at a discount to par in a private transaction. The Company will use a portion of the proceeds from its new $880 million facility to fund the transaction.

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iStar Financial Inc. (NYSE: [ SFI ]) is a fully-integrated finance and investment company focused on the commercial real estate industry. The Company provides custom-tailored investment capital to high-end private and corporate owners of real estate and invests directly across a range of real estate sectors. The Company, which is taxed as a real estate investment trust ("REIT"), has invested more than $35 billion over the past two decades. Additional information on iStar Financial is available on the Company's website at [ www.istarfinancial.com ].

SOURCE iStar Financial Inc.

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