During Wednesday’s current trade, Shares of NorthStar Realty Finance Corp. (NYSE:NRF), gained 0.90% to $16.04.
On June 15, NorthStar Realty Finance declared that it has reached a definitive agreement to acquire a Class A office tower located in Frankfurt, Germany for €540 million. The Tower is one of the tallest buildings in Germany and is about 68,600 square meters, 98.5% occupied and has a weighted average lease term of about eight years with two tenants rated “AAA” and “A” comprising over 70% of gross rents.
NorthStar Realty anticipates to earn an initial current yield of about 8.0% on its about €250 million of invested equity. The Tower is predictable to be contributed to NorthStar Realty Europe Corp. (“NRE”) at the time of the spin-off from NorthStar Realty. After the completion of this acquisition, NRE will have an aggregate $2.6 billion portfolio, at cost, of high-quality European real estate investments.
NorthStar Realty Finance Corp. is a real estate investment trust launched and managed by NorthStar Asset Administration Group. The fund invests in the real estate markets of the United States.
Shares of CONSOL Energy Inc. (NYSE:CNX), declined -4.65% to $20.73, during its current trading session, hitting its lowest level.
CNX Coal Resources LP, a Delaware limited partnership formed by CONSOL Energy Inc. (CNX), declared that it has priced its initial public offering of 5,000,000 common units representing limited partner interests at a price to the public of $15.00 per common unit. The common units are planned to start trading on the New York Stock Exchange on July 1, 2015 under the ticker symbol “CNXC.” The underwriters of the offering have a 30-day option to purchase up to an additional 750,000 common units to cover over-allotments, if any.
CONSOL Energy Inc., together with its auxiliaries, operates as an integrated energy company in the United States and internationally. The company operates through two divisions, Exploration and Production (E&P), and Coal. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.
Finally, PennyMac Mortgage Investment Trust (NYSE:PMT), gained 2.70%, and is now trading at $17.90.
The Board of Trustees of PennyMac Mortgage Investment Trust, declared a cash dividend of $0.61 per common share of beneficial interest for the second quarter of 2015. This dividend will be paid on July 30, 2015 to common shareholders of record as of July 16, 2015.
PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company operates through two segments, Correspondent Production and Investment Activities.
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