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LOS ANGELES—Colony Financial has completed the $1.6-billion acquisition of Cobalt Capital‘s 256-property light industrial portfolio, and according to analysts at Sterne Agee, the buy will fair well for the company’s 2016 consensus. Colony purchased the portfolio with cash and debt, not new secondary equity as imagined, leading analysts to predict a 10% ROE projection on the new assets that will add $0.25-$0.30 per share to current 2016 consensus.


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