Downtown-based real estate investment firm Colony Capital Inc. reported widening losses in the second quarter as its struggles deepened following the acquisition of NorthStar asset management and realty finance in early 2017.

The firm posted a loss of $442 million in the three months ended June 30 versus a loss of $65.4 million in the same year-ago quarter. Revenue was $573.4 million, down 6.8% from $615.5 million a year earlier.

To raise money, Colony Capital said it intends to sell its multibillion-dollar industrial portfolio of 450 properties by the end of 2019.

Colony Capital has faced a difficult turnaround since January 2017 when it bought the commercial real estate manager NorthStar Asset Management Group Inc. and real estate investment trust NorthStar Realty Finance Corp.

On the heels of the deal, the company reported $198 million in losses in 2017 and $520 million last year.

Dividends were cut 59% on an annualized basis during that two-year period to 44 cents a share from $1.08. Colony Capital’s stock price has dropped 66% since it took over the NorthStar operations.

To pump more value into the company, Colony Capital announced its strategic review of its business in February that analysts believe will lead to the sale of assets across its four main lines of business – including healthcare, industrial, hospitality and lodging, and various “other equity debt” investments that are privately held.

In midday trading, Colony Capital’s stock traded at $5.44 a share, down 9 cents.

Finance reporter Pat Maio can be reached at [email protected] or (323) 556-8329.