I think I am pretty good at reading and understanding financial filings, it's what I do. N-1 Liquidating Trust, the entity that holds the assets of the former NorthStar Real Estate Income Trust that were not part of the Colony Credit Real Estate merger and listing, made a
filing today that shouts, "Ha! You want complicated, hold my beer!" Bifurcation, junior participation, modification, multi-year extension... I read it all as obfuscation to cover capital elimination.
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