Commercial real estate lender iStar posts wider loss

Tue Feb 26, 2013 7:12am EST

Feb 26 (Reuters) - Commercial real estate lender iStar Financial Inc reported a seventh straight quarterly loss as it spends far more to service its debt than it earns from loans and leases.

Net loss attributable to shareholders widened to $87.4 million, or $1.04 per share, from $35.2 million, or 43 cents per share, a year earlier.

The commercial real estate lender has been repaying and refinancing its high-cost debt.

It had $4.69 billion in net debt at the end of the quarter, down from the $7.35 billion it had three years ago, when it flagged 'going concern' worries.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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