Blackwells Capital Calls Upon Colony Credit to Respond to Blackwells’ Letter

NEW YORK, Feb. 27, 2020 (GLOBE NEWSWIRE) — Blackwells Capital LLC (together with its affiliates “Blackwells”), an alternative investment management firm and a significant owner of shares of Colony Credit Real Estate, Inc. (NYSE: CLNC) (“Colony Credit” or the “Company”) directly and indirectly through its ownership of Colony Capital, Inc. (NYSE: CLNY) (“Colony Capital”), today disclosed a letter it sent to the Company’s Board of Directors on February 7, 2020.

“Colony Credit has not yet provided us with a substantive response to the issues and concerns we have raised,” said Jason Aintabi, Chief Investment Officer of Blackwells.  “As a large shareholder who believes the Board, management and investment team has materially underperformed at Colony Credit, we expect the Company to respond to our concerns and suggestions on the upcoming earnings call.”