Dec. 23, 2019 -- iStar Inc. (NYSE: STAR) announced today that it has completed its previously announced redemption of all of the issued and outstanding shares of its 4.5% Series J Cumulative Redeemable Preferred Stock that did not convert into iStar common stock prior to the December 23, 2019 redemption date. Prior to the redemption date, holders of 99.99% Series J Shares elected to convert their Series J Shares into an aggregate of 16,498,956 shares of iStar common stock at the conversion price of 4.1250 shares of common stock per Series J Share.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  iStar, Inc., formerly iStar Financial Inc., 4.50% Series J Cumulative Convertible Perpetual Preferred Stock, liquidation preference $50 per share, redeemable at the issuer's option on or after 3/15/2018 at $50 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 4.50% per annum ($2.25 per annum or $0.5625 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date that will be the first day of the month which the payment is due or on the record date fixed by the board, not more than 30 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. The preferred shares are convertible any time at the holder's option into 3.9087 common shares of iStar Financial Inc. (NYSE: SFI), an initial conversion price of $12.79 per common share. This security was rated as Caa2 by Moody’s and CCC+ by S&P at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the convertible preferred stock and the conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Conv Shrs Conv Price	Distribution Dates	15% Tax Rate
OTOTCn OTOTCps	4.50% $2.25	$50.00 $50.00	Called for 12/23/2019 None	B2 B- 9/26/2019	3.9087 $12.79	3/15, 6/15, 9/15 & 12/15 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

Company's Online Information Links

HOME PAGE:     http://www.istar.com/
Company's Investor Relations Information	Go to Investor Relations Information
Company's Online News Releases	Go to News Releases
Online Company Profile	Go to Online Profile

Company's Online SEC EDGAR Filings

Company's SEC EDGAR Filings

Go to SEC Filings

Company's Email Address Links

Email Address

investors@istar.com

Address and Phone Numbers

Address:   1114 Avenue of the Americas, 39th Floor, New York, NY 10036
Main Phone Number	212-930-9400
Fax Number	212-930-9494
Investor Relations   Jason Fooks	888-335-3122
Toll Free Phone Number	888-335-3122

CEO - Jay Sugarman

CFO - David M. DiStaso