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iStar Financial Repurchases $109 Million of Unsecured Notes

07:30 EDT Tuesday, March 20, 2012

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.

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

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