Paul, Weiss client NorthStar Realty Finance Corp. announced that it has agreed to sell a $1 billion joint venture interest in its health care real estate portfolio, at a total valuation of $6.1 billion, to Taikang Insurance Group. Taikang, a leading Chinese insurer, will have a 19 percent interest following the transaction, which is expected to close in the first quarter of 2017.

The Paul, Weiss team included corporate partners Robert Schumer, Ellen Ching, Jeanette Chan and Bruce Gutenplan and counsel Paul Donnelly and David Lee; tax partner Scott Sontag; real estate partners Harris Freidus and Salvatore Gogliormella; international trade counsel Richard Elliott; and litigation partner Moses Silverman.