Colony Credit Real Estate Signs Agreement to Internalize Management

LOS ANGELES--(BUSINESS WIRE)--Colony Credit Real Estate, Inc. (NYSE: CLNC) (the “Company”) today announced that the Company and its external manager, CLNC Manager, LLC, a subsidiary of Colony Capital, Inc. (the “Manager” or “Colony Capital”), have signed definitive agreements to consensually terminate the management agreement and internalize the Company’s management and operating functions. This internalization transaction is a result of the previously announced strategic alternative review process to maximize shareholder value that was undertaken by the Company’s special committee, consisting exclusively of independent and disinterested directors of the Company (the “Special Committee”).