As of August 5, 2014, NorthStar Realty had 199 million total common shares, deferred LTIP units and RSUs not subject to performance hurdles, outstanding.As of August 5, 2014, NorthStar Realty had an aggregate $77 million principal amount of 5.375% and 8.875% exchangeable notes remaining and if all these notes were exchanged, this would result in the issuance of an additional 9 million shares of common stock. Common Dividend Announcement On August 6, 2014, NorthStar Realty announced that its Board of Directors declared a cash dividend of $0.50 per share of common stock, payable with respect to the quarter ended June 30, 2014.The dividend is expected to be paid on August 22, 2014 to shareholders of record as of the close of business on August 18, 2014. The Company's common shares will begin trading ex-dividend on August 14, 2014.Following the completion of the spin-off of NSAM as of July 1, 2014, NorthStar Realty expects to pay a quarterly dividend of $0.40 per share of common stock for each of the quarters ending September 30, 2014 and December 31, 2014. Earnings Conference Call NorthStar Realty will hold a conference call to discuss second quarter 2014 financial results on August 7, 2014, at 9:00 a.m. Eastern time. Hosting the call will be David Hamamoto, chairman and chief executive officer; Albert Tylis, president; Daniel Gilbert, chief investment and operating officer; and Debra Hess, chief financial officer. The call will be webcast live over the Internet from NorthStar Realty's website, www.nrfc.com , and will be archived on the Company's website.The call can also be accessed live over the phone by dialing 888-427-9419, or for international callers, by dialing 719-325-2464. A replay of the call will be available two hours after the call through Thursday, August 14, 2014 by dialing 888-203-1112or, for international callers, 719-457-0820, using pass code 9583325. About NorthStar Realty Finance Corp. NorthStar Realty Finance Corp. is a diversified commercial real estate investment company that is organized as a REIT.NorthStar Realty is managed by an affiliate of NorthStar Asset Management Group Inc. ( NSAM ), a global asset management firm. For more information about NorthStar Realty Finance Corp., please visit www.nrfc.com . NorthStar Realty Finance Corp. (3) Adjusted for the one-for-two reverse stock split completed on June 30, 2014. Non-GAAP Financial Measure Included in this press release is Cash Available for Distribution, or CAD, a certain "non-GAAP financial measure", which measures NorthStar Realty's historical or future financial performance that is different from measures calculated and presented in accordance with accounting principles generally accepted in the United States, or U.S. GAAP, within the meaning of the applicable Securities and Exchange Commission, or SEC, rules. NorthStar Realty believes this metric can be a useful measure of its performance which is further defined below. Cash Available for Distribution (CAD) We believe that CAD provides investors and management with a meaningful indicator of operating performance. Management also uses CAD, among other measures, to evaluate profitability. We also believe that CAD is useful because it adjusts for a variety of non-cash items (such as depreciation and amortization, equity-based compensation, realized gain (loss) on investments, provision for loan losses, net and non-cash interest income and expense items). Furthermore, CAD adjusts N-Star CDO bond discounts to record such investments on an effective yield basis over the expected weighted average life of the investment. CAD may fluctuate from period to period based upon a variety of factors, including, but not limited to, the timing and amount of investments, repayments and asset sales, capital raised, use of leverage, changes in the expected yield of investments and the overall conditions in commercial real estate and the economy generally. Management also believes that quarterly distributions are principally based on operating performance and our board of directors includes CAD as one of several metrics it reviews to determine quarterly distributions to stockholders. We calculate CAD by subtracting from or adding to net income (loss) attributable to common stockholders, non-controlling interests attributable to the Operating Partnership and the following items: depreciation and amortization items including depreciation and amortization, straight-line rental income or expense, amortization of above/below market leases, amortization of deferred financing costs, amortization of discount on financings and other and equity-based compensation; cash flow related to N-Star CDO equity interests; accretion of unconsolidated N-Star CDO bond discounts; non-cash net interest income in consolidated N-Star CDOs; unrealized gain (loss) from the change in fair value; realized gain (loss) on investments and other, excluding accelerated amortization related to sales of CDO bonds or other investments; provision for loan losses, net; impairment on depreciable property; acquisition gains or losses; distributions to joint venture partners; transaction costs; foreign currency gains (losses); impairment on goodwill and other intangible assets; gains (losses) on sales; and one-time events pursuant to changes in U.S. GAAP and certain other non-recurring items. For example, CAD has been adjusted to exclude non-recurring gain (loss) from deconsolidation of certain N-Star CDOs. These items, if applicable, include any adjustments for unconsolidated ventures.
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Bites: Longbranch, The Hatch, Sushi Secrets, more | Berkeleyside
If you just cant wait to try his food, Kronner has been doing pop-up dinners on Fridays at Ordinaire , 3354 Grand Ave. in Oakland, which have proven to be quite popular. Connect with KronnerBurger on Facebook . Image: The Pho Bar THE PHO BAR: CLOSEDWe can say for sure that Berkeleys The Pho Bar, north of the UC Berkeley campus at 1828 Euclid Ave., has closed. The business reports it on its website , and thanks customers for their patronage. No further information was provided. The Vietnamese restaurant had been open since 2011, and had been trying out a breakfast menu as of April . The restaurant hasnt posted any social media updates since then, however, on Twitter or Facebook . We heard from a reader July 25 that the business was closed and the space appeared to be for lease. (Hat tip: Doug Ng) RAMEN OUT, THAI INLongtime Berkeley ramen shop Ryowa, at 2068 University Ave., appears to have closed as of at least July 25. Yelpers loved the gyoza and the atmosphere, but it seems it wasnt enough to keep the business which had been around since at least 2005 going. It met with some rave reviews in its early days, but according to some reports, dropped off after an ownership change in 2006 . In recent years, it didnt quite measure up to what at least one local food blogger (over at Focus:Snap:Eat) was hoping to find.Now for the good news: Via the state ABC licensing database, a Thai restaurant looks to be on track to fill the void. Imm Thai has applied for a beer and wine license to the state, which posted earlier thisweek and is pending. Stay tuned for details. Other notable happenings Photo: New Belgian Brewing CLIPS BEER & FILM TOURComing up Saturday in Berkeley, New Belgium Brewings 2014 Clips Beer and Film Tour is coming to Civic Center Park in Berkeley for the first time. The event runs from 7:30-10:30 p.m., with films starting once its dark. According to organizers, This beer-toting, film-traveling, nonprofit-benefiting show is going coast-to-coast hitting 21 cities in its fifth year. The best part is that 100 percent of the proceeds from beer sales benefit local nonprofits working to improve communities nationwide. Its free to attend the event but tastings cost $1.25 for 3 ounces, and $5 for 10 ounces. Families are welcome. Learn more at www.newbelgium.com/clips . Apple soju. Photo: Emilie Raguso FUN AT FUSEBOX West Oaklands FuseBOX, in collaboration with Robert Karimi (The Peoples Cook) is holding a summer food-based performance series through Aug. 30 at 2311A Magnolia St.Holding Court: Agathering of culture and taste will feature a wide range of artists, activists and writers sharing their cultures over a tasting of food and with lively conversation. The events will take place during happy hour, and will feature the low rider bicycle kitchen cart, which was created as part of a project commissioned by the San Jose Museum of Art .The events take place Saturdays from 4-5:30 p.m. Learn more here , and connect with FuseBOX on Facebook . Infused coconut rum. Photo: Bissap Baobab AFRICAN HAPPY HOURBissap Baobab has launched happy hour at its (relatively) new downtown Oakland location at 381 15th St. We first told you about the business which has run itspopular and delicious San Francisco location for more than a decade in May . The happy hour, from 3-6 p.m., features signature drinks, such as several types of infused rums, including some drinks that can befound exclusively at itsOakland outpost. A special $6 menu includes pastelles (deep-fried pastries) as well as a stuffed avocado and a tropical salad; get three snacks for $10. Theres also the afro wrap in a tortilla filled with meat or a bean cake, and your choice of sauce: yassa (marinated onions in lemon-mustard sauce), mafe (peanut sauce) or coconut curry.
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