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Colony Capital (NYSE: CLNY) announced the consensual termination of its management agreement with Colony Credit Real Estate (NYSE: CLNC) through definitive agreements. This move, driven by CLNC's strategic review process, enables Colony Capital to monetize non-core legacy assets and streamline operations. The company will receive $102.3 million in proceeds, which will be redirected into high-quality digital assets as part of its strategic plan. Colony Capital remains a significant shareholder in CLNC, owning 36.1% of its outstanding shares. The deal is expected to close in Q2 2021.
Colony Capital (NYSE: CLNY) announced corporate governance changes to enhance its digital transformation. Nancy Curtin will become Chairperson of the Board on April 1, 2021, while Thomas Barrack transitions to a Non-Executive member. Sháka Rasheed has been nominated for Board election, contributing extensive fintech and capital markets experience. The Board plans to reduce its size from 12 to 10 directors by the 2021 Annual Meeting, focusing on diversity with strong digital infrastructure expertise. The changes aim to improve governance and drive value for shareholders amid evolving market conditions.
Colony Capital (NYSE: CLNY) announced the completion of its exit from the hospitality sector through the sale of six hospitality portfolios to Highgate and Cerberus Capital Management, yielding $67.5 million in gross proceeds. This move also led to a significant reduction of $2.7 billion in consolidated investment-level debt, thanks to debt assumption by the buyers. The company aims to focus on its digital transformation, marking a critical shift in its business strategy.
Colony Capital (NYSE: CLNY), a global investment firm, has announced its participation in several upcoming investor conferences. Notably, CEO Marc Ganzi will present at the Morgan Stanley Technology, Media and Telecom Conference on March 1, the Citi Virtual Global Property CEO Conference on March 8, and the Truist Securities Technology Conference on March 9. Additionally, Ganzi will keynote at the Deutsche Bank Media, Internet, & Telecom Conference on March 10. These events include virtual meetings for investors and will be accessible via live webcasts on the company's website.
Colony Capital (CLNY) reported 4Q 2020 revenues of $339 million, with a net loss attributable to common stockholders of $(141) million or $(0.30) per share. For the full year 2020, total revenues reached $1.2 billion and a net loss of $(2.8 billion or $(5.81) per share. However, Core FFO excluding gains/losses was $18.2 million or $0.03 per share for Q4, reflecting stability amidst a challenging year. The Company emphasizes progress in its digital transition and a robust digital asset management at $30 billion.
Colony Capital, Inc. (NYSE: CLNY) announced that Marc Ganzi, its President and CEO, will deliver the keynote presentation at the PERE Japan Forum Virtual Experience 2021 on February 24, 2021, at 8:45 PM EST. This conference emphasizes Colony's position as a significant player in real estate investment, managing a $47 billion portfolio, including over $23 billion in digital real estate. The company operates globally from various offices and employs over 350 individuals across 12 countries.
Colony Capital (NYSE: CLNY) announced that President and CEO Marc Ganzi will keynote at the Capacity Media Virtual Metro Connect USA 2021 alongside Zayo Group's CEO Steve Smith on February 22, 2021, at 9:00 a.m. EST. The keynote presentation is titled “An Industry in the Spotlight”. Following the keynote, a Q&A session with industry analysts will occur. Colony Capital manages a $47 billion portfolio, including over $23 billion in digital real estate investments through Digital Colony.
Colony Capital (NYSE: CLNY) will release its Q4 and full-year 2020 financial results on February 25, 2021, before market open. An earnings presentation and conference call will occur at 7:00 a.m. PT / 10:00 a.m. ET the same day. The company plans to resume issuing annual forward guidance in connection with this announcement. Colony Capital manages a $47 billion portfolio, including over $23 billion in digital real estate investments through its Digital Colony platform. Shareholders can access the presentation online and via telephone.
Colony Capital (NYSE: CLNY) appointed Latifa Tefridj-Gaillard as Managing Director and Head of Europe Capital Formation for its digital investment arm, Digital Colony. Tefridj-Gaillard brings over 16 years of experience from Goldman Sachs, where she managed over $40 billion in funds, including $5 billion for private debt strategies. Her role aims to enhance Digital Colony’s European network and investment strategy. Colony Capital manages a $47 billion portfolio, with $23 billion in digital real estate.
Colony Capital (NYSE: CLNY) announced the relocation of its corporate headquarters from Los Angeles to Boca Raton, Florida, effective January 1, 2021. This move aligns with the company’s focus on digital infrastructure, which constitutes over 50% of its strategic realignment. Key executives, including President and CEO Marc Ganzi, are already based in Boca Raton. The transition aims to streamline operations and enhance cost efficiency. Additionally, new roles were appointed for executives as part of the digital transformation, emphasizing the company’s commitment to improving business operations and structure.
