secwatch.observer — SEC 8-K summary
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Issuer:     Star Holdings (STHO)
CIK:        0001953366
Form:       8-K
Filed at:   2023-03-31T23:59:59+00:00
Accession:  0001104659-23-039689
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.01, 2.03, 3.02, 5.01, 5.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Star Holdings completes spin-off from iStar; begins trading on Nasdaq under STHO
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- Spin-off effective March 31, 2023; iStar distributed 0.153 STHO shares per iStar share.
- Received assets with gross real estate value of $357.9M: Asbury Park Waterfront ($193.9M), Magnolia Green ($97.3M), Coney Island Bath Site ($26.3M).
- Entered into $115M secured term loan from Safehold and $140M margin loan facility from Morgan Stanley.
- Appointed Jay Sugarman as CEO, Marcos Alvarado as President/CIO, Brett Asnas as CFO; board of three trustees.
- Amended declaration of trust to authorize 200M common shares and 30M preferred shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1953366/000110465923039689/0001104659-23-039689-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1953366/000110465923039689/tm2310755d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-039689

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer