Exhibit 99.1

iStar Financial Announces Second Quarter 2013 Results

·                  Adjusted income allocable to common shareholders for the second quarter 2013 was $4 million.

·                  Company’s investment commitment and fundings for the quarter total $190 million.

·                  Ended quarter with over $700 million of cash available for future investments.

NEW YORK - July 25, 2013 - iStar Financial Inc. (NYSE: SFI) today reported results for the second quarter ended June 30, 2013.

Second Quarter 2013 Results

iStar reported adjusted income (loss) allocable to common shareholders for the second quarter of $4.4 million, compared to ($1.4) million for the second quarter 2012. Results for the quarter included $11.5 million of loss on early extinguishment of debt associated with the early refinancing of debt. In addition, the prior year period included a $24.8 million gain associated with the bulk sale of 12 net lease assets. Excluding those items, adjusted income for the quarter was $15.5 million versus a loss of ($25.4) million for the prior year period.

Adjusted income (loss) represents net income (loss) computed in accordance with GAAP, prior to the effects of certain non-cash items, including depreciation, loan loss provisions, impairments, stock-based compensation and gain/loss on early extinguishment of debt. Please see the financial tables that follow the text of this press release for the Company’s calculations of adjusted income as well as reconciliations to GAAP net income (loss).

Net income (loss) allocable to common shareholders for the second quarter was ($26.0) million, or ($0.31) per diluted common share, compared to ($59.0) million, or ($0.70) per diluted common share for the second quarter 2012. Excluding the items mentioned above, net income (loss) allocable to common shareholders for the quarter was ($14.9) million versus ($83.0) million for the prior period.

Capital Markets

During the quarter the Company issued at par $265 million of 3.875% senior unsecured notes due July 2016 and $300 million of 4.875% senior unsecured notes due July 2018. The Company used a portion of the net proceeds of the offerings to repay the remaining $97 million aggregate principal amount outstanding of its 8.625% Senior Notes due June 2013 and the remainder of the net proceeds, together with cash on hand, to redeem the remaining $448 million aggregate principal amount outstanding of its 5.95% Senior Notes due October 2013. There are no remaining debt maturities for the balance of the year.

Separately, the Company repaid $76.4 million on its February 2013 Secured Credit Facility during the quarter, bringing the remaining balance to $1.60 billion at June 30, 2013. In addition, the Company repaid $52.2 million on the A-1 tranche of its 2012 A-1/A-2 Secured Credit Facility during the quarter, bringing the remaining outstanding balance of the A-1 tranche to $8.1 million. The balance of the A-2 tranche at the end of the quarter was $470.0 million.

The Company’s weighted average effective cost of debt for the second quarter was 6.0%, a decrease from 6.2% for the prior quarter. The Company’s leverage was 2.0x at June 30, 2013, down from 2.1x at the end of the prior quarter, and at the low end of the Company’s targeted range of 2.0x — 2.5x. Please see the financial tables that follow the text of this press release for a calculation of the Company’s leverage.

Subsequent to quarter end, Moody’s Investor Services revised its rating outlook on iStar to positive from stable, citing the Company’s “strengthened credit profile and efforts to re-establish and grow its real estate finance business” as well as the Company’s “significant progress in extending its debt maturity schedule and its [solid] liquidity profile…over the near term.”

Investment Activity

As previously reported, iStar originated a $146.0 million investment in Landmark Apartment Trust of America during the second quarter, funding $65.7 million during the quarter. iStar expects the remainder to be funded prior to year-end. Also, the Company funded a total of $43.4 million of additional investments during the quarter.

The Company had $715.9 million of cash at the end of the quarter, which will be used primarily to fund investment activity as the Company continues to ramp up originations.

iStar generated $537.8 million of proceeds from its portfolio during the quarter, comprised of $155.4 million from repayments and sales of loans in its real estate finance portfolio, $116.8 million from sales of operating properties, $15.9 million from sales of net lease assets, $25.0 million from sales of land and $224.7 million from other investments, including the previously announced sale of LNR Property LLC on April 19, 2013.

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Portfolio Overview

At June 30, 2013, the Company’s total portfolio had a gross carrying value of $5.43 billion, gross of $421.7 million of accumulated depreciation and $32.3 million of general loan loss reserves. Gross carrying value represents the Company’s carrying value, gross of accumulated depreciation and general loan loss reserves.

Real Estate Finance

At June 30, 2013, the Company’s real estate finance portfolio totaled $1.55 billion.

The portfolio included $1.18 billion of performing loans with a weighted average last dollar loan-to-value ratio of 73% and a weighted average maturity of 2.9 years. The performing loans included $683.9 million of first mortgages / senior loans and $492.1 million of mezzanine / subordinated debt. The performing loans generated a weighted average effective yield for the quarter of 7.0%. The weighted average risk rating of the Company’s performing loans was 3.15 versus 3.00 in the prior quarter. Included in the performing loan balance were $41.6 million of watch list assets.

At June 30, 2013, the Company’s non-performing loans (NPLs) had a carrying value of $370.0 million, net of $426.5 million of specific reserves, compared to a balance of $358.8 million at the end of the prior quarter.

For the second quarter, the Company recorded $5.0 million in loan loss provision, down from $10.2 million in the prior quarter. At June 30, 2013, loan loss reserves totaled $479.8 million or 24.9% of the total gross carrying value of loans.

Net Lease

At the end of the quarter, iStar’s net lease portfolio had a gross carrying value of $1.65 billion, gross of $326.4 million of accumulated depreciation. The Company’s net lease portfolio totaled 20 million square feet across 34 states. During the quarter, the Company invested $14.9 million in its net lease portfolio, including fundings for a new, approximately 185,000 square foot build-to-suit development under long-term lease to Universal Technical Institute outside of Chicago. In addition, the Company generated $15.9 million of proceeds from the sale of net lease assets and recorded a $3.4 million gain.

Occupancy for the portfolio was 93.8% at the end of the quarter, with a weighted average remaining lease term of 12.0 years. The weighted average risk rating of the Company’s net lease portfolio improved to 2.40 from 2.43 in the prior quarter. The occupied assets generated an unleveraged weighted average effective yield of 7.8% on gross carrying value and the total net lease portfolio generated an unleveraged weighted average effective yield of 7.2% on gross carrying value for the quarter.

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Operating Properties

At the end of the quarter, the Company’s operating properties portfolio totaling $1.13 billion, gross of $92.5 million of accumulated depreciation, was comprised of $825.1 million of commercial and $302.4 million of residential real estate properties. During the quarter, the Company invested $9.7 million in its operating properties.

Commercial Operating

The Company’s commercial operating properties represent a diverse pool of 31 assets across a broad range of geographies and collateral types such as office, retail and hotel properties. These properties generated $28.8 million of revenue offset by $20.2 million of expenses during the quarter. The Company generally seeks to reposition or redevelop these assets with the objective of maximizing their values through the infusion of capital and/or intensive asset management efforts.

At the end of the quarter, the Company had $182.3 million of stabilized commercial operating properties that were 88% leased and generated an unleveraged weighted average effective yield of 9.5% on gross carrying value for the quarter. The Company generated $24.5 million of proceeds from the sale of commercial operating properties and recorded a $4.9 million gain for the quarter.

The remaining commercial operating properties were 56% leased and generated an unleveraged weighted average effective yield of 2.9% on gross carrying value for the quarter. iStar is actively working to lease up and stabilize these properties. During the quarter, the Company executed approximately 50 commercial operating property leases covering 300,000 square feet.

Residential Operating

At the end of the quarter, the residential operating portfolio was comprised of 805 condominium units, generally located within luxury condominium projects located in major U.S. cities. The Company’s strategy is to continue selling its remaining condominium inventory and to maximize net proceeds. During the quarter, the Company sold 118 condominium units, resulting in $92.4 million of proceeds and recorded $36.3 million of income, offset by $4.6 million of expenses.

Land

At the end of the quarter, the Company’s land portfolio totaling $962.2 million, gross of accumulated depreciation, was comprised of 11 master planned community projects, seven urban infill land parcels and six waterfront land parcels located throughout the United States. During the quarter, the Company invested $8.3 million in its land portfolio through capital expenditures.

Master planned communities represent large-scale residential projects that the Company will entitle, plan and/or develop. These projects are currently entitled for more than 25,000 lots. The remainder of the Company’s land includes infill and waterfront parcels located in and around major cities that the Company will develop, sell to or partner with commercial real estate developers. These projects are currently entitled for approximately 6,000 residential units, and select projects which include commercial, retail and office uses.

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At June 30, 2013, the Company had five land projects in production, nine in development and 10 in the pre-development phase. During the quarter, iStar contributed a land parcel to a joint venture for the development of Marina Palms, a luxury water-front condominium and yacht club in Miami, FL, in exchange for $21.4 million of proceeds, as well as both a preferred partnership interest and a 47.5% equity interest in the development joint venture. The Company recorded a $3.4 million gain associated with this transaction.

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[Financial Tables to Follow]

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iStar Financial Inc. (NYSE: SFI) is a fully-integrated finance and investment company focused on the commercial real estate industry. The Company provides custom-tailored investment capital to high-end private and corporate owners of real estate and invests directly across a range of real estate sectors. The Company, which is taxed as a real estate investment trust (“REIT”), has invested more than $35 billion over the past two decades. Additional information on iStar Financial is available on the Company’s website at www.istarfinancial.com.

iStar Financial will hold a quarterly earnings conference call at 10:00 a.m. ET today, July 25, 2013. This conference call will be broadcast live over the Internet and can be accessed by all interested parties through iStar Financial’s website, www.istarfinancial.com, under the “Investor Relations” section. To listen to the live call, please go to the website’s “Investor Relations” section at least 15 minutes prior to the start of the call to register, download and install any necessary audio software. For those who are not available to listen to the live broadcast, a replay will be available shortly after the call on the iStar Financial website.

(Note: Statements in this press release which are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although iStar Financial Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from iStar Financial’s expectations include general economic conditions and conditions in the commercial real estate and credit markets, the Company’s ability to generate liquidity and to repay indebtedness as it comes due, additional loan loss provisions, the amount and timing of asset sales, increases in NPLs, the Company’s ability to reduce NPLs, repayment levels, the Company’s ability to make new investments, the Company’s ability to maintain compliance with its debt covenants, actual results of condominium sales meeting our expectations, the Company’s ability to generate income and gains from non-performing loans, operating properties and land and other risks detailed from time to time in iStar Financial Inc.’s SEC reports.

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iStar Financial Inc.

Consolidated Statements of Operations

(In thousands)

(unaudited)

(1) For the three months ended June 30, 2013 and 2012, includes $4,719 and $3,447 of stock-based compensation expense, respectively.  For the six months ended June 30, 2013 and 2012, includes $9,921 and $8,113 of stock-based compensation expense, respectively.

(2) HPU Holders are current and former Company employees who purchased high performance common stock units under the Company’s High Performance Unit Program. Participating Security holders are Company employees and directors who hold unvested restricted stock units, restricted stock awards and common stock equivalents granted under the Company’s LTIP that are eligible to participate in dividends.

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iStar Financial Inc.

Earnings Per Share Information

(In thousands, except per share amounts)

(unaudited)

(1) Adjusted Income (loss) allocable to common shareholders should be examined in conjunction with net income (loss) as shown in the Consolidated Statements of Operations. This non-GAAP financial measure should not be considered as an alternative to net income (determined in accordance with GAAP) as an indicator of the Company’s performance, or to cash flows from operating activities (determined in accordance with GAAP) as a measure of the Company’s liquidity, nor is it indicative of funds available to fund the Company’s cash needs or available for distribution to shareholders. It should be noted that the Company’s manner of calculating this non-GAAP financial measure may differ from the calculations of similarly-titled measures by other companies. Management believes that it is useful to consider Adjusted Income because the adjustments are non-cash items that do not necessarily reflect an actual change in the long-term economic value or performance of our assets. Management considers this non-GAAP financial measure as supplemental information to net income in analyzing the performance of our underlying business. Depreciation and amortization and impairment of assets exclude adjustments from discontinued operations of $11 and $427, respectively, for the three months ended June 30, 2013 and $441 and $1,346 respectively, for the three months ended June 30, 2012. Depreciation and amortization and impairment of assets exclude adjustments from discontinued operations of $82 and $395, respectively, for the six months ended June 30, 2013 and $1,509 and $16,620, respectively, for the six months ended June 30, 2012.

(2) Including preferred dividends, net (income) loss from noncontrolling interests and income from sales of residential property.

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iStar Financial Inc.

Consolidated Balance Sheets

(In thousands)

(unaudited)

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iStar Financial Inc.

Segment Analysis

(In thousands)

(unaudited)

FOR THE THREE MONTHS ENDED JUNE 30, 2013

AS OF JUNE 30, 2013

(1) Includes revenue and real estate expense classified to discontinued operations.

(2) Excludes $4,719 of stock-based compensation expense.

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iStar Financial Inc.

Supplemental Information

(In thousands)

(unaudited)

(1) Includes $12,917 of joint venture depreciation.

(2) Unencumbered assets is calculated in accordance with the indentures governing the Company’s unsecured debt securities.

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iStar Financial Inc.

Supplemental Information

(In thousands)

(unaudited)

LOANS RECEIVABLE CREDIT STATISTICS

(1) Gross carrying value represents iStar’s carrying value of loans, gross of loan loss reserves.

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iStar Financial Inc.

Supplemental Information

(In millions)

(unaudited)

PORTFOLIO STATISTICS AS OF JUNE 30, 2013 (1)

(1) Based on carrying value of the Company’s total investment portfolio, gross of accumulated depreciation and general loan loss reserves.

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