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Colony Financial, Inc. Prices Public Offering of Common Stock

  Colony Financial, Inc. Prices Public Offering of Common Stock

Business Wire

LOS ANGELES -- January 11, 2013

Colony Financial, Inc. (the "Company") (NYSE: CLNY) today announced that it
has priced a public offering of 10,000,000 shares of common stock. The Company
also granted to the underwriters an option to purchase up to an additional
1,500,000 shares. The offering is subject to customary closing conditions and
is expected to close on or about January 16, 2013. On January 10, 2013, the
last reported sales price of the Company’s common stock on the New York Stock
Exchange under the symbol “CLNY” was $20.95 per share.

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.

Morgan Stanley and BofA Merrill Lynch are acting as joint book-running
managers for this offering. The underwriters may offer the shares at
prevailing market prices or otherwise from time to time through the New York
Stock Exchange, in the over-the-counter market, through negotiated
transactions or otherwise.

The offering of the shares will be made under the Company’s shelf registration
statement, which was filed with and declared effective by the Securities and
Exchange Commission. The offering will be made only by means of a prospectus
supplement and prospectus, which has been filed with the Securities and
Exchange Commission. A copy of the prospectus supplement and prospectus
related to the offering can be obtained by contacting Morgan Stanley,
Attention: Prospectus Dept., 180 Varick Street, 2nd Floor, New York, New York
10014 or by email at prospectus@morganstanley.com, or BofA Merrill Lynch,
Attention: Prospectus Department, 222 Broadway, New York, New York 10038 or by
email at dg.prospectus_requests@baml.com.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any securities, nor shall there be any sale of any
securities in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.

About Colony Financial, Inc.

Colony Financial, Inc. is a real estate finance and investment company that is
focused on acquiring, originating and managing a diversified portfolio of real
estate-related debt and equity investments, including single family homes to
be rented to tenants, at attractive risk-adjusted returns. Our investment
portfolio and target assets are primarily composed of interests in: (i)
secondary loans acquired at a discount to par; (ii) new originations; and
(iii) equity in CSFR OP, which owns and operates single family homes to be
held for investment and rented to tenants. Secondary debt purchases may
include performing, sub-performing or non-performing loans (including
loan-to-own strategies). The Company has elected to be taxed as a real estate
investment trust, or REIT, for U.S. federal income tax purposes. The Company
is a component of the Russell 2000® and the Russell 3000® indices.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning
of the federal securities laws. Forward-looking statements relate to
expectations, beliefs, projections, future plans and strategies, anticipated
events or trends and similar expressions concerning matters that are not
historical facts. In some cases, you can identify forward-looking statements
by the use of forward-looking terminology such as "may," "will," "should,"
"expects," "intends," "plans," "anticipates," "believes," "estimates,"
"predicts," or "potential" or the negative of these words and phrases or
similar words or phrases which are predictions of or indicate future events or
trends and which do not relate solely to historical matters. Forward-looking
statements involve known and unknown risks, uncertainties, assumptions and
contingencies, many of which are beyond the Company's control, that may cause
actual results to differ significantly from those expressed in any
forward-looking statement.

All forward-looking statements reflect the Company’s good faith beliefs,
assumptions and expectations, but they are not guarantees of future
performance. Furthermore, the Company disclaims any obligation to publicly
update or revise any forward-looking statement to reflect changes in
underlying assumptions or factors, of new information, data or methods, future
events or other changes. For a further discussion of these and other factors
that could cause the Company’s future results to differ materially from any
forward-looking statements, see the section entitled “Risk Factors” in the
Company’s Annual Report on Form 10-K for the year ended December 31, 2011
filed with the Securities and Exchange Commission on March 9, 2012, the
Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2012
filed with the SEC on May 8, 2012, the Company's Quarterly Report on Form 10-Q
for the quarter ended June 30, 2012 filed with the SEC on August 9, 2012, the
Company’s Quarterly Report on Form 10-Q for the quarter ended September 30,
2012 filed with the SEC on November 9, 2012, and other risks described in
documents subsequently filed by the Company from time to time with the SEC.

Source: Colony Financial, Inc.

Contact:

Investor Contact:
Colony Financial, Inc.
Darren Tangen
Chief Operating Officer &
Chief Financial Officer
310-552-7230
or
Addo Communications, Inc.
Lasse Glassen, 310-829-5400
lasseg@addocommunications.com
or
Media Contact:
Owen Blicksilver P.R., Inc.
Caroline Luz, 203-656-2829
caroline@blicksilverpr.com
 
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