NEW YORK & LOS ANGELES--(BUSINESS WIRE)--Jun. 14, 2018--
Colony NorthStar Credit Real Estate, Inc. (NYSE: CLNC) (“Colony
NorthStar Credit” or the “Company”) today announced that the Company’s
Board of Directors has declared its monthly cash dividend of $0.145 per
share of class A and class B-3 common stock (the “Common Stock”) for the
monthly period ended June 30, 2018. The Common Stock dividend will be
paid on July 10, 2018, to stockholders of record on June 29, 2018. This
dividend represents an annualized dividend of $1.74 per share of Common
Stock.
Effective June 25, 2018, the Company will change its name to "Colony
Credit Real Estate, Inc." and its ticker will remain the same.
About Colony NorthStar Credit Real Estate, Inc.
Colony NorthStar Credit (NYSE: CLNC) is one of the largest publicly
traded commercial real estate (CRE) credit REITs, focused on
originating, acquiring, financing and managing a diversified portfolio
consisting primarily of CRE senior mortgage loans, mezzanine loans,
preferred equity, debt securities and net leased properties
predominantly in the United States. Colony NorthStar Credit is
externally managed by a subsidiary of leading global real estate and
investment management firm, Colony NorthStar, Inc. Colony NorthStar
Credit is organized as a Maryland corporation that intends to elect to
be taxed as a REIT for U.S. federal income tax purposes for its taxable
year ending December 31, 2018. For additional information regarding the
Company and its management and business, please refer to www.clncredit.com.
Forward Looking Statement
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 our control, and may cause
actual results to differ significantly from those expressed in any
forward-looking statement. Among others, the following uncertainties and
other factors could cause actual results to differ from those set forth
in the forward-looking statements: operating costs and business
disruption may be greater than expected; the Company's operating results
may differ materially from the pro forma information presented in the
Company's Annual Report on Form 10-K for the fiscal year ended December
31, 2017; the fair value of the Company's investments may be subject to
uncertainties; the Company's use of leverage could hinder its ability to
make distributions and may significantly impact its liquidity position;
given the Company's dependence on its external manager, an affiliate of
Colony NorthStar, any adverse changes in the financial health or
otherwise of its manager or Colony NorthStar could hinder the Company's
operating performance and return on stockholder's investment; the
ability to realize substantial efficiencies as well as anticipated
strategic and financial benefits; and the impact of legislative,
regulatory and competitive changes. The foregoing list of factors is not
exhaustive. Additional information about these and other factors can be
found in Part I, Item 1A of the Company’s Annual Report on Form 10-K for
the fiscal year ended December 31, 2017, as well as in CLNC’s other
filings with the Securities and Exchange Commission.
We caution investors not to unduly rely on any forward-looking
statements. The forward-looking statements speak only as of the date of
this press release. Colony NorthStar Credit is under no duty to update
any of these forward-looking statements after the date of this press
release, nor to conform prior statements to actual results or revised
expectations, and Colony NorthStar Credit does not intend to do so.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180614006131/en/
Source: Colony NorthStar Credit Real Estate, Inc.
Investor Relations
Colony NorthStar Credit Real Estate, Inc.
Addo
Investor Relations
Lasse Glassen
310-829-5400
