Colony Credit Real Estate, Inc. Announces First Quarter 2019 Financial Results
COLONY CREDIT REAL ESTATE INC (CLNC)
Last colony credit real estate inc earnings: 2/27 04:05 pm
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Source: Business Wire
LOS ANGELES--(BUSINESS WIRE)-- Colony Credit Real Estate, Inc. (NYSE: CLNC) (“Colony Credit Real Estate” or the “Company”) today announced its financial results for the first quarter ended March 31, 2019. Kevin P. Traenkle, President and Chief Executive Officer of Colony Credit Real Estate, commented, “2019 is off to a good start for Colony Credit Real Estate. Our operating performance is on budget and we have successfully executed the first of our planned strategic transactions -- the disposal of approximately 89% of our interests in real estate private equity funds. The aggregate sales price of approximately $142 million is in line with the Company’s carrying value on such interests. Furthermore, the Company has already received $63 million in proceeds, with the substantial portion of the remaining $79 million of proceeds anticipated in the second quarter of 2019.” Mr. Traenkle added, “As these
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