Exhibit 23.2
Consent of Independent Auditors
We consent to the incorporation by reference in the following Registration Statements:
| (1) | Registration Statement (Form S-3ASR No. 333-187610) of Colony Financial, Inc. pertaining to the registration of common stock, preferred stock, depositary shares, warrants, rights and debt securities; |
| (2) | Registration Statement (Form S-8 No. 333-197883) pertaining to the Colony Financial, Inc. 2014 Equity Incentive Plan; |
| (3) | Registration Statement (Form S-8 No. 333-177829) pertaining to the Colony Financial, Inc. 2011 Equity Incentive Plan; |
| (4) | Registration Statement (Form S-8 No. 333-162188) pertaining to the Colony Financial, Inc. 2009 Non-Executive Director Stock Plan; |
of our report dated March 31, 2015 relating to the consolidated financial statements of CAH Operating Partnership, L.P. and Subsidiaries included in this Form 10-K/A of Colony Financial, Inc.
/s/ Ernst & Young LLP
Los Angeles, California
March 31, 2015
