Exhibit 1

AGREEMENT OF JOINT FILING

(iSTAR FINANCIAL INC.)

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned hereby confirm the agreement by and among them to the joint filing on behalf of them of the Statement on Schedule 13G and any and all further amendments thereto, with respect to the securities of the above referenced issuer, and that this Agreement be included as an Exhibit to such filing.  This Agreement may be executed in any number of counterparts each of which shall be deemed to be an original and all of which together shall be deemed to constitute one and the same Agreement.

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of May 8, 2014.

APOLLO VALUE INVESTMENT MASTER FUND, L.P.
By:	Apollo Value Advisors, L.P.
	its managing general partner
	By:	Apollo Value Capital Management, LLC
		its general partner
		By:		/s/ Joseph D. Glatt
				Joseph D. Glatt
				Vice President
APOLLO VALUE ADVISORS, L.P.
By:	Apollo Value Capital Management, LLC
	its general partner
By:			/s/ Joseph D. Glatt
			Joseph D. Glatt
			Vice President
APOLLO VALUE CAPITAL MANAGEMENT, LLC
By:			/s/ Joseph D. Glatt
			Joseph D. Glatt
			Vice President

APOLLO VALUE MANAGEMENT, L.P.
By:		Apollo Value Management GP, LLC
		its general partner
		By:				/s/ Joseph D. Glatt
						Joseph D. Glatt
						Vice President
APOLLO VALUE MANAGEMENT GP, LLC
By:	/s/ Joseph D. Glatt
	Joseph D. Glatt
	Vice President
APOLLO SPECIAL OPPORTUNITIES
MANAGED ACCOUNT, L.P.
By:		Apollo SOMA Advisors, L.P.
		its general partner
		By:			Apollo SOMA Capital Management, LLC
					its general partner
					By:		/s/ Joseph D. Glatt
							Joseph D. Glatt
							Vice President
APOLLO SOMA ADVISORS, L.P.
By:			Apollo SOMA Capital Management, LLC
			its general partner
			By:	/s/ Joseph D. Glatt
				Joseph D. Glatt
				Vice President
APOLLO SOMA CAPITAL MANAGEMENT, LLC
By:								/s/ Joseph D. Glatt
								Joseph D. Glatt
								Vice President

APOLLO SVF MANAGEMENT, L.P.
By:			Apollo SVF Management GP, LLC
			its general partner
			By:	/s/ Joseph D. Glatt
				Joseph D. Glatt
				Vice President
APOLLO SVF MANAGEMENT GP, LLC
By:	/s/ Joseph D. Glatt
	Joseph D. Glatt
	Vice President
APOLLO CENTRE STREET PARTNERSHIP, L.P.
By:		Apollo Centre Street Advisors (APO DC), L.P.
		its general partner
		By:			Apollo Centre Street Advisors (APO DC-GP), LLC
					its general partner
					By:	/s/ Joseph D. Glatt
						Joseph D. Glatt
						Vice President
APOLLO CENTRE STREET MANAGEMENT, LLC
By:	/s/ Joseph D. Glatt
	Joseph D. Glatt
	Vice President
APOLLO CREDIT STRATEGIES MASTER FUND LTD.
By:			Apollo ST Fund Management LLC
			its investment manager
			By:	/s/ Joseph D. Glatt
				Joseph D. Glatt
				Vice President

APOLLO ST FUND MANAGEMENT LLC
By:	/s/ Joseph D. Glatt
	Joseph D. Glatt
	Vice President
APOLLO ST OPERATING LP
By:		Apollo ST Capital LLC
		its general partner
		By:		/s/ Joseph D. Glatt
				Joseph D. Glatt
				Vice President
APOLLO ST CAPITAL LLC
By:	/s/ Joseph D. Glatt
	Joseph D. Glatt
	Vice President
ST MANAGEMENT HOLDINGS LLC
By:	/s/ Joseph D. Glatt
	Joseph D. Glatt
	Vice President
APOLLO SK STRATEGIC INVESTMENTS, L.P.
By:		Apollo SK Strategic Advisors, L.P.
		its general partner
			By:		Apollo SK Strategic Advisors, LLC
					its general partner
					By:	/s/ Joseph D. Glatt
						Joseph D. Glatt
						Vice President

APOLLO SK STRATEGIC MANAGEMENT, LLC
			By:		/s/ Joseph D. Glatt
					Joseph D. Glatt
					Vice President
APOLLO CAPITAL SPECTRUM FUND, L.P.
By:		Apollo Capital Spectrum Advisors, LLC
		its general partner
		By:		/s/ Joseph D. Glatt
				Joseph D. Glatt
				Vice President
APOLLO CAPITAL SPECTRUM ADVISORS, LLC
By:	/s/ Joseph D. Glatt
	Joseph D. Glatt
	Vice President
APOLLO CAPITAL SPECTRUM MANAGEMENT, LLC
By:	/s/ Joseph D. Glatt
	Joseph D. Glatt
	Vice President
APOLLO FRANKLIN PARTNERSHIP, L.P.
By:			Apollo Franklin Advisors (APO DC), L.P.
			its general partner
			By:			Apollo Franklin Advisors (APO DC-GP), LLC
						its general partner
		By:		/s/ Joseph D. Glatt
				Joseph D. Glatt
				Vice President

APOLLO FRANKLIN MANAGEMENT, LLC
By:	/s/ Joseph D. Glatt
	Joseph D. Glatt
	Vice President
APOLLO CAPITAL MANAGEMENT, L.P.
By:		Apollo Capital Management GP, LLC
		its general partner
		By:	/s/ Joseph D. Glatt
			Joseph D. Glatt
			Vice President
APOLLO CAPITAL MANAGEMENT GP, LLC
By:	/s/ Joseph D. Glatt
	Joseph D. Glatt
	Vice President
APOLLO PRINCIPAL HOLDINGS II, L.P.
By:		Apollo Principal Holdings II GP, LLC
		its general partner
		By:		/s/ Joseph D. Glatt
				Joseph D. Glatt
				Vice President
APOLLO PRINCIPAL HOLDINGS II GP, LLC
By:	/s/ Joseph D. Glatt
	Joseph D. Glatt
	Vice President
APOLLO MANAGEMENT HOLDINGS, L.P.
By:		Apollo Management Holdings GP, LLC
		its general partner
		By:	/s/ Joseph D. Glatt
			Joseph D. Glatt
			Vice President

APOLLO MANAGEMENT HOLDINGS GP, LLC
By:	/s/ Joseph D. Glatt
	Joseph D. Glatt
	Vice President