Star Holdings deconsolidates multifamily venture after $10.6M loan repaid

Star Holdings

Mezzanine loan of $10.6M repaid and $80M senior construction mortgage guarantee released on March 27, 2026.
No consideration transferred; Company resigned as manager of the Asbury Park, NJ project venture.
Pro forma balance sheet: total assets decrease $78.6M to $491.6M; debt obligations down $63.5M to $205.2M.
Pro forma net loss attributable to common shareholders for 2025 changes from $(64.2M) to $(64.4M).
Deconsolidation removes all venture assets, liabilities, noncontrolling interests and operations from financials.

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