iStar Exploring Disposition of Up to $1.7 Billion in Legacy Assets

CRE lender and net lease investor iStar (NYSE: STAR) has hired J.P. Morgan Securities LLC to explore alternatives for the balance of its “legacy asset” portfolio, consisting primarily of land and development, operating properties and non-performing loans.

As part of the review, iStar said it wants to consider accelerated sales of individual assets or groups of assets, and structural alternatives such as a spinoff or joint venture. The investment…