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Colony Financial, Inc. (NYSE: CLNY) today announced it plans to commence a public offering of 5,000,000 shares of common stock. The Company also plans to grant to the underwriters an option to purchase up to an additional 750,000 shares. The Company intends to use at least $45.0 million of the net proceeds from the offering to make an additional investment in CSFR Operating Partnership, L.P. (“CSFR OP”), an investment vehicle created for the purpose of investing in single-family rental homes in which the Company has an associate general partner interest. Operations are managed by Colony American Homes, LLC, an affiliate of Colony Financial Manager, LLC. The Company expects CSFR OP to use the proceeds contributed to it for the purpose of investing in additional single-family homes. The Company intends to use any additional net proceeds to acquire assets in a manner consistent with its investment strategies and investment guidelines, for working capital and general corporate purposes.
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