What John Litt Hopes To Get Done At Northstar $NSAM
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Here are the highlights of what John Litt and his Land & Buildings is trying to do at Northstar Asset Management ($NSAM). They are trying to get former partner Northstar Realty Finance to re-merge with NSAM. The keys - NSAM should sell its REIT management contracts with NRF for nearly $2.6 billion and use the proceeds to pay a special dividend of $13 per share.
L&B said, NRF "is the most logical buyer, although the contract could be a coveted asset to other investors." With this NRF could be positioned to grow as it will be an internally advised and managed REIT.