Financial stocks were mostly higher Monday, with the NYSE
Financial Sector Index advancing 0.8% and the S&P Financial 100
Index rising 0.7%.
In company news, Northstar Realty Finance Corp. (
) rose to a new 52-week high Monday, only to turn lower in recent
trade after announcing a deal to buy a $1.05 billion healthcare
real estate portfolio from investment partnerships owned and
managed by Formation Capital LLC and Safanad Ltd.
The Portfolio is comprised of 43 private-pay senior housing
facilities and another 37 skilled nursing facilities. The tentative
deal nearly triples the value of NRF's healthcare real estate
portfolio to around $1.6 billion and more than 160 properties.
Formation Capital also will be participating in the deal as a
joint venture partner, with NorthStar contributing roughly 92% of
the $430 million of equity and the joint venture assuming in-place
financing for the remaining purchase price.
NRF shares advanced as high as $16.37 each in early trading,
notching a new 52-week high, before slipping to their current range
around $16.04, down 1.0%.
In other sector news,
(+) FII, (+1.9%) Buys $421 mln in fixed-income assets from
Huntington Bancshares (
), with plans to reorganize the acquired assets into five of its
mutual funds with similar investment objectives. HBAN shares rose
(-) IX, (-2.4%) Reportedly near a deal to buy Hartford Financial
Services Group's (
) Japanese operations, according to Bloomberg News, citing two
people with knowledge of the talks. Deal would be worth around $875
mln, Nikkei reported this weekend. HIG shares are narrowly
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