NorthStar Realty Finance Corp. is preparing to issue at least two commercial real estate CDOs in the near future. The New York-based real estate investment trust in recent months has made arrangements for warehouse facilities with Banc of America Securities and Wachovia Securities in order to house assets for what will be the company's sixth and seventh CDOs, respectively, to come to the market.

Bolstering the company's commercial real estate loan origination activities, NorthStar announced plans to purchase Allied Capital Corp.'s commercial loan origination platform Timarron Capital Inc. for as much as $2.6 million late last month. That deal is expected to close in January. NorthStar originated three CDOs so far this year, and one each in the previous two years.

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