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iStar Financial Inc. Message Board

  • rollnon rollnon Feb 9, 2010 4:34 PM Flag

    new 8K filing

    iStar Financial Inc. (the "Company") is exploring a sale or other transaction involving a portfolio of 34 corporate tenant leased assets totaling approximately 12 million square feet of space. For the year ended December 31, 2009, the portfolio generated approximately $115 million in net operating income, which represented approximately 40% of the Company's total corporate tenant leased net operating income. The portfolio is encumbered by secured, non-recourse term debt with an aggregate principal balance of approximately $948 million that matures in April 2011. The debt instruments cannot be assigned without the consent of the lender.

    Large transaction that would add flexability and new deal ability to the company.

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