NorthStar Sells Interest in Unit to Inland American

NorthStar Realty Finance Corp.'s majority-owned healthcare real estate venture, Wakefield Capital LLC, has sold a $100 million convertible preferred equity interest to Inland American Real Estate Trust Inc. NorthStar is slated to receive about $90 million in net proceeds from the deal. "The capital raised in this transaction, together with the $80 million of convertible notes that we issued in May, further enhances our liquidity and positions NorthStar take advantage of some of the best market opportunities that we have seen in years," said David T. Hamamoto, chairman and chief executive officer of NorthStar.