NorthStar Realty Finance Corp. in New York expects to raise approximately $414 million through a public offering.

The real estate investment company plans to sell 22.5 million shares of common stock for $18.40 per share. The offering is expected to close on Sept. 9.

NorthStar said in a press release Thursday that it intends to use the proceeds to fund future acquisitions, including upscale hotels or heath care properties. It may also use the funds to pay down its debt.

Additionally, NorthStar will enter into a forward purchase agreement with Deutsche Bank that includes an additional 22.5 million shares.

Deutsche Bank will have to borrow the common stock shares it will sell in its part of the offering. The company will not immediately receive proceeds from the agreement, which it expects to settle in six months.

Deutsche Bank Securities and UBS Investment Bank are acting as the joint book-running managers for the offering.

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