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Colony Financial, Inc (NYSE: CLNY) is a real estate investment trust for buying, originating, investing in, financing and managing a diversified portfolio of real estate-related debt investments.
Colony Financial was formed in June 2009, practically the bottom of the financial crisis. It had its Initial Public Offering (IPO) September 23, 2009.
Their IPO failed to raise as much money as they'd hoped. They'd planned to sell around 25 million shares for about $20, but could sell about 12.5 million.
Their primary focus is on commercial mortgage loans (performing, sub-performing or non-performing), commercial mortgage-backed securities (CMBS), mezzanine loans, debtor-in-possession loans, B-notes, bridge loans and other commercial real estate-related debt instruments.
Colony Financial is For Acquiring Distressed Loans from the Recession
Colony Financial is externally managed by Colony Financial Manager, a wholly-owned subsidiary of Colony Capital, LLC. They are a private global real estate investment firm founded in 1991 by Thomas J. Barrack, Jr.
Thomas J. Barrack Jr is the Executive Chairman of Colony Financial, and Richard B. Saltzman is Chief Executive Officer and President. Darren Tangen is CFO.
Colony Financial is also part of a private investment firm, Colony Capital LLC formed to buy 40% interest in 1,200 commercial real estate loans from the Federal Deposit Insurance Corporation (FDIC).
In December 2010 they announced they participated in loan acquisition of two separate structured transactions with the FDIC, one portfolio in the west of the United States and the other in the north of the United States.
They also told REIT MAGAZINE that they'll be originating new real estate related loans. They were one of the recent "blind pool" IPOs, because they had no portfolio when they began, just promised how they would use the money they raised from investors.
Colony Financial is in the Russell 2000® and the Russell 3000® indices.
Next: CreXus Investment Corporation -- commercial real estate related financing and debt
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