NorthStar greenshoe exercised, ups 8.5% preferreds to $200 million

By Tali David

Minneapolis, April 9 - Underwriters for NorthStar Realty Finance Corp.'s 8.5% series D cumulative redeemable preferred stock offering exercised most of their over-allotment option, adding an additional $25 million, or 1 million shares, according to a press release.

The greenshoe exercise brings the total deal size to $200 million.

The company priced $175 million, or 7 million shares, of the $25-par preferreds on April 3. The deal included a greenshoe for $26.25 million, or 1.05 million shares.

As previously reported, Citigroup Global Markets Inc. and UBS Securities LLC were the joint bookrunners.

The New York-based real estate investment trust will use the proceeds to make investments, to repurchase or pay off debt and for general corporate purposes.

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