Editor’s note: The merger has been competed, Colony NorthStar announced Jan. 10.

Shareholders of Colony Capital, NorthStar Asset Management Group Inc. and NorthStar Realty Finance Corp. voted to approve the previously announced merger of the three companies at separate special meetings, the companies announced Dec. 20. The new Colony NorthStar Inc. will manage more than $58 billion in assets.

“Our focus now turns to the successful integration of the businesses, realizing the anticipated synergies of the merger and executing on our go-forward strategic plan by taking advantage of the unique scaled platform resulting from the merger,” said Richard B. Saltzman, the current CEO and president of Colony, who will remain CEO upon the transaction’s closing.

At that time, Thomas J. Barrack Jr., the current executive chairman of Colony, will become executive chairman of the board of the new equity real estate investment trust. David Hamamoto, current executive chairman of NSAM and chairman of NRF, will be executive vice chairman of the combined entity. NRF has a strong presence in seniors housing.

The companies expect to complete the merger in January, after which they anticipate benefiting from a stronger balance sheet; ongoing deleveraging and improved liquidity; broadened access to multiple sources of capital, including fee-bearing capital to accelerate growth and provide enhanced returns to shareholders; and significant continuing cost savings.

Colony NorthStar will be listed on the New York Stock Exchange under the ticker symbol CLNS.