BY ARLEEN JACOBIUS | | UPDATED
Colony Capital, real estate money management firm NorthStar Asset Management Group and NorthStar’s former parent NorthStar Realty Finance are in exclusive merger negotiations, said a joint statement.
Colony and NorthStar Realty Finance are jointly proposing a tri-party all-stock merger with NorthStar Asset Management based on historical stock prices, creating a real estate and investment management equity REIT.
Company executives declined to provide further terms of the proposed transaction.
NorthStar Asset Management Group spun out of real estate investment trust NorthStar Realty Finance in June 2014.