Colony Financial Announces 2009 Financial
Results
March 10, 2010 05:18 PM Eastern Time
LOS ANGELES--(EON: Enhanced Online News)--Colony Financial, Inc. (NYSE: CLNY) (the “Company”)
today announced financial results for the period from the Company’s inception on June 23, 2009 to December 31,
2009.
2009 Highlights
l Completed initial public offering and private placement in September 2009 and underwriters’ over-allotment
in October 2009, raising net proceeds of $287 million
l Announced nine transactions through December 31, 2009 totaling investments and commitments of $154.9
million of equity capital
l Participated in acquisition of 25 performing, first mortgage commercial real estate loans at a purchase price of
75% of the aggregate unpaid principal balance of $174.7 million
l Participated in origination of $206 million senior secured term loan facility to William Lyon Homes
l Committed to participate in acquisition of First Republic Bank from Bank of America Corporation
l Committed to partner with affiliates and the FDIC to acquire approximately 1,200 loans at a purchase price
of approximately 44% of the aggregate unpaid principal balance of approximately $1 billion (announced and
closed in 2010)
Operating Results
For the period from the Company’s inception on June 23, 2009 to December 31, 2009, equity in income from
unconsolidated joint ventures and interest income contributed $0.7 million and $0.4 million, respectively, to total
income of $1.1 million. Total expenses for the period through December 31, 2009 were $1.5 million. Administrative
expenses accounted for $1.1 million, of which administrative expenses reimbursed to the Company’s external
manager were $0.3 million. As a result, during the period from the Company’s inception on June 23, 2009 to
December 31, 2009, the Company incurred a net loss of $0.4 million, or $(0.06) per basic and diluted share.
Our results were impacted by our $0.9 million pro-rata share of one-time investment transaction costs, which must
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