iStar Financial Repurchases $109 Million of Unsecured Notes

March 20, 2012 at 7:30 AM EDT

NEW YORK, March 20, 2012 /PRNewswire/ -- iStar Financial Inc. (NYSE: SFI) announced today that it has agreed to repurchase $109 million aggregate principal amount of its convertible notes due October 2012 from an institutional investor at a discount to par in a private transaction. The Company will use a portion of the proceeds from its new $880 million facility to fund the transaction.

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iStar Financial Inc. (NYSE: SFI) is a fully-integrated finance and investment company focused on the commercial real estate industry. The Company provides custom-tailored investment capital to high-end private and corporate owners of real estate and invests directly across a range of real estate sectors. The Company, which is taxed as a real estate investment trust ("REIT"), has invested more than $35 billion over the past two decades. Additional information on iStar Financial is available on the Company's website at




SOURCE iStar Financial Inc.

David M. DiStaso, Chief Financial Officer, or Jason Fooks, Investor Relations, both of iStar Financial Inc., +1-212-930-9400