NEW YORK, Aug 01, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- iStar Financial Inc.
(NYSE: SFI), a leading publicly traded finance company focused on the
commercial real estate industry, announced today that it intends to
reactivate its previously authorized stock repurchase program. As described in
the Company's Securities and Exchange documents, under the existing program,
the Company may currently purchase up to 2.7 million shares of common stock
from time to time through open market or privately negotiated transactions.
The timing and exact number of shares purchased will be determined at iStar
Financial's discretion and will depend on market conditions. iStar Financial
may discontinue purchasing shares at any time.
iStar Financial Inc. is a leading publicly traded finance company focused
on the commercial real estate industry. The Company primarily provides
custom-tailored investment capital to high-end private and corporate owners of
real estate, including senior and mezzanine real estate debt, senior and
mezzanine corporate capital, as well as corporate net lease financing and
equity. The Company, which is taxed as a real estate investment trust
("REIT"), seeks to deliver strong dividends and superior risk-adjusted returns
on equity to shareholders by providing innovative and value added financing
solutions to its customers. Additional information on iStar Financial is
available on the Company's website at http://www.istarfinancial.com.
SOURCE iStar Financial Inc.
Catherine D. Rice, Chief Financial Officer
Andrew G. Backman, Vice President -- Investor Relations
both of iStar Financial Inc.