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BrightSpire Capital (NYSE: BRSP) will release its fourth quarter and full year 2021 financial results on February 22, 2022, before the market opens. A conference call to discuss these results is scheduled for the same day at 10:00 a.m. ET. Investors can join the call by dialing (877) 407-0784 or via the company’s website. A replay will be available from 1:00 p.m. ET on February 22 until March 1, 2022. BrightSpire is a significant player in the commercial real estate credit sector, focusing on originating and managing a diversified portfolio of CRE debt investments.
BrightSpire Capital (NYSE: BRSP) announced on December 22, 2021, the payoff of its "5-Investment Preferred Financing" following a co-invest portfolio sale. This transaction is projected to increase the Company's GAAP book value by approximately $0.20 and undepreciated book value by about $0.35. Notably, these figures are around $0.33 lower than previously communicated. The detailed fourth quarter results will be available in the upcoming annual report on Form 10-K for the fiscal year ending December 31, 2021.
BrightSpire Capital (NYSE: BRSP) announced on
Fortress Investment Group has completed transactions with DigitalBridge Group (NYSE: DBRG) and BrightSpire Capital (NYSE: BRSP) totaling approximately $730 million. These transactions include Fortress becoming the General Partner to DigitalBridge's DCVR series of funds, managing about $2.7 billion in assets. Additionally, Fortress acquired five development assets from BrightSpire for $223 million. The deals aim to streamline DigitalBridge's remaining assets and support BrightSpire’s portfolio rotation.
BrightSpire Capital (NYSE: BRSP) announced the completion of a sale involving 5 historical development and/or non-accrual assets to Fortress Investment Group for $223 million. The net proceeds received by the company were approximately $198 million. This transaction simplifies BrightSpire’s portfolio and resolves several legacy assets, enhancing its focus on senior mortgages. The sale aligns with the company’s goal to preserve book value, achieving proceeds in line with the assets' GAAP book value as of March 31, 2021.
Colony Capital (NYSE:CLNY) has officially changed its name to DigitalBridge Group and will trade under the new ticker DBRG. This rebranding reflects its transition toward focusing on digital infrastructure. The company is hosting its first Investor Day, presenting strategic priorities and growth opportunities in the digital landscape. CEO Marc Ganzi emphasized the firm's readiness to leverage digital investment trends. DigitalBridge manages a $32 billion portfolio across various digital sectors, including towers and data centers.
Colony Capital (NYSE: CLNY) announced its inaugural virtual Investor Day on June 22, 2021, starting at 11:00 am ET. The event will showcase the company's transition to DigitalBridge, with a new ticker symbol DBRG, and highlight its strategic priorities in digital infrastructure. Key topics include an overview of financial outlook, insights into digital infrastructure opportunities, and current market dynamics for investment. The rebranding reflects Colony's commitment to adapt to industry trends in real estate.
Colony Capital, Inc. (NYSE: CLNY) is rebranding as DigitalBridge, effective June 22, 2021. This change aligns with the company’s strategic shift towards digital infrastructure, following significant asset transition. The corporate name change to DigitalBridge Group, Inc. is paired with a new ticker, DBRG, reflecting its focus on towers, data centers, and fiber. The company aims to rotate $100 billion in assets under management towards digital infrastructure, having already completed 80% of this shift. This transformation positions DigitalBridge to capitalize on growth in the digital economy.
Colony Capital (NYSE: CLNY) announced the sale of its OED portfolio to Fortress Investment Group for $535 million, aligning with the net equity carrying value. This sale supports Colony's strategic goals, enhancing liquidity to over $1.2 billion while reducing debt by $945 million. The transaction simplistically enhances focus on digital infrastructure, with digital assets expected to account for 80% of pro forma assets under management. With this sale, Colony has surpassed its 2021 monetization target of $400-600 million, indicating positive financial momentum.
Boingo Wireless, Inc. (NASDAQ: WIFI) has completed its acquisition by Digital Colony, valuing the Company at approximately $854 million, including assumed net debt of $199 million. Following stockholder approval on June 1, 2021, Boingo stockholders will receive $14.00 per share in cash, leading to Boingo becoming a privately-held entity. Digital Colony aims to leverage Boingo's strong industry relationships and expertise to capitalize on growth prospects in the indoor digital infrastructure sector, catering to evolving connectivity demands driven by 5G and Wi-Fi 6 technologies.
