Fried Frank acted as counsel to the Special Review Committee of the Board of Directors of NorthStar Realty Europe Corporation (NRE), in connection with its review of strategic alternatives, including considering a potential sale of NRE, in an effort to maximize shareholder value. NRE is a European-focused commercial real estate company with predominantly high-quality office properties in Germany, the United Kingdom, and France, organized as a REIT and managed by an affiliate of Colony Capital, Inc., a leading global real estate and investment management firm. In addition to its review of strategic alternatives, NRE also reached an agreement with its external manager, an affiliate of Colony Capital, Inc. to terminate the Amended and Restated Asset Management Agreement between NRE and its manager that had provided for the external management of NRE through at least January 1, 2023. Such termination will be effective upon the consummation of a sale of NRE or, if no sale transaction is completed, in connection with the internalization of the management of NRE.
The Fried Frank team was led by corporate partner Steven G. Scheinfeld and included corporate partner Philip Richter, corporate special counsel Amber Meek, and corporate associate Alison McCormick.