Colony Capital

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Colony Capital
Public
Traded as NYSE: CLNY
Industry Private equity real estate
Founded 1991
Founder Thomas J. Barrack, Jr.
Headquarters Los Angeles, California, United States
Products Real estate
Website www.colonyinc.com

Colony Capital is a international investment firm based in Los Angeles, California.[1] The company, founded in 1991, has over 300 employees operating in 14 offices around the world. The company focuses on real estate opportunities around the world either on its own, through funds run by the company, or in joint ventures. In particular, Colony invests in real estate and real estate-related debt investments, real estate-dependent operating companies, non-performing loans, distressed assets and select development opportunities throughout the world. The company is run by businessman Thomas J. Barrack, Jr. In 2010, Colony was reported to manage about $30 billion in investments.[2] In 2011, Colony was tied for 3rd largest private equity real estate fund in the world, behind Blackstone Group and Morgan Stanley Real Estate.[3]

History

Colony purchased Raffles International on July 18, 2005. This included the 41 hotels and resorts operated under the Raffles Hotel and Swissotel brand names. There are plans to expand the chains, particularly in Asia.[citation needed]

On January 30, 2006, it acquired Fairmont Hotels and Resorts of Toronto, Ontario with Kingdom Hotels International as a joint partner for US$3.24 billion.[citation needed]

On April 10, 2006, it acquired French professional football team Paris Saint-Germain.[citation needed]

On February 25, 2007, it signed a definitive agreement to take Station Casinos private in a 75%/25% split with members of the founding Fertitta family for US$5.5 billion, or US$90/share. The subsequent economic downturn caused Station Casinos to declare bankruptcy in 2009, and when it emerged in 2011 Colony Capital owned a much smaller portion after providing more cash.[4][5][6][7] Founder, Chairman, and CEO Thomas Barrack said it "could have been the worst investment ever" in terms of timing.[8]

On November 11, 2008, Michael Jackson transferred the title of his 2,700 acre[2] estate Neverland Ranch to Sycamore Valley Ranch Company LLC, a joint venture between Jackson (represented by attorney, L. Londell McMillan) and an affiliate of Colony Capital.[9][10][11][12] It is still unclear, if the colony capital still has a part in the property.[13] Jackson earned a total of US$35 million when he agreed for the joint venture between himself and colony capital.[14][15]

In March 2010, Colony arranged a financing and marketing package for Annie Leibovitz. The New York celebrity photographer had been in financial difficulty and in danger of losing the rights to her photographs and negatives and her three Greenwich Village townhouses to her previous lender, ArtCapital. ArtCapital's credit was for $24 million.[2]

In December 2010, Colony purchased Miramax from Disney with Qatar Investment Authority, Tutor-Saliba Corporation and The Weinstein Company as part of a joint venture called Filmyard Holdings for $663 million.[16][17]

Types of investments

Investment funds

The traditional investment portfolio at Colony are their investment funds, in which retail investors pool their funds, such as with mutual funds, and includes:

  • Colony II
  • Colony III
  • Colony IV
  • Colony V
  • Colony VI
  • Colony VII
  • Colony VIII
  • Colony Distressed Debt Fund, L.P.
  • Colony Distressed Debt Fund II, L.P.
  • Colony Asia Investors I, L.P.
  • Colyzeo Investors, L.P.
  • Colyzeo Investors II, L.P.
  • Colony Realty Partners L.P.
  • Colony Realty Partners II, L.P.
  • Colony Realty Partners III, L.P.
  • Colony American Homes

Casinos and hotels

A large part of Colony LLC investment portfolio involved gaming resorts mainly in the United States. Some were joint projects with Accor Casinos.

Colony was also involved in investing in luxury hotels and resorts in Asia and North America:

Other investments

Former properties

References

  1. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ 2.0 2.1 2.2 "Private equity firm snaps up chance to help Leibovitz put house in order" by Henny Sender, Financial Times, March 9, 2010 02:00, Retrieved 2010-03-09.
  3. ↑ [1]
  4. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ http://amlawdaily.typepad.com/amlawdaily/2011/06/stationcasinosexit.html
  6. ↑ http://www.law360.com/articles/157714/lenders-colony-capital-to-acquire-station-casinos
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ http://www.perenews.com/Article.aspx?article=53984&hashID=BCE7FBF9B0F16033DCB062EC644D0CF844EF4706
  9. ↑ Jackson's Neverland ranch is sold
  10. ↑ tmz.com, Neverland May Be Jacko's Ticket to Vegas
  11. ↑ ukpress.google.com, Jacko gives up Neverland ranch deed Archived December 15, 2008 at the Wayback Machine
  12. ↑ news.yahoo.com, Michael Jackson gives Neverland to corporation
  13. ↑ http://www.sbcvote.com/opis/Browse.aspx
  14. ↑ eonline.com, Michael Jackson Lets Neverland Fly Away
  15. ↑ www.smh.com.au, Neverland peters out for pop's Peter Pan
  16. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  17. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  18. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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