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    <link:label id="lab_clny_OfficeLeasesMember_FCF4AB6556A3627AECD26A52282E52B6_verboseLabel_en-US" xlink:label="lab_clny_OfficeLeasesMember_FCF4AB6556A3627AECD26A52282E52B6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Corporate Offices</link:label>
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    <link:loc xlink:href="clny-20191231.xsd#clny_OfficeLeasesMember" xlink:label="loc_clny_OfficeLeasesMember_FCF4AB6556A3627AECD26A52282E52B6" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LessorLeaseDescriptionLineItems_AB1C877EEC5E3491B2F96A52282ED28B_terseLabel_en-US" xlink:label="lab_us-gaap_LessorLeaseDescriptionLineItems_AB1C877EEC5E3491B2F96A52282ED28B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lessor, Lease, Description [Line Items]</link:label>
    <link:label id="lab_us-gaap_LessorLeaseDescriptionLineItems_AB1C877EEC5E3491B2F96A52282ED28B_label_en-US" xlink:label="lab_us-gaap_LessorLeaseDescriptionLineItems_AB1C877EEC5E3491B2F96A52282ED28B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Lease, Description [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorLeaseDescriptionLineItems" xlink:label="loc_us-gaap_LessorLeaseDescriptionLineItems_AB1C877EEC5E3491B2F96A52282ED28B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_FA603AEAEC7659DC00586A52282EBA5D_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_FA603AEAEC7659DC00586A52282EBA5D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020</link:label>
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    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_66E69ADD4471C5DBFA7D6A52282F4563_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_66E69ADD4471C5DBFA7D6A52282F4563" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2021</link:label>
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    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_5D858730C28A4BE7596B6A52282F628F_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_5D858730C28A4BE7596B6A52282F628F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2022</link:label>
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    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_02E7BF74E5A8CF42FEF86A52282F5496_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_02E7BF74E5A8CF42FEF86A52282F5496" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2024</link:label>
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    <link:label id="lab_us-gaap_InterestReceivable_CD6BBB2971D9BD4D38D9554171E31EBA_label_en-US" xlink:label="lab_us-gaap_InterestReceivable_CD6BBB2971D9BD4D38D9554171E31EBA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Receivable</link:label>
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    <link:label id="lab_clny_InvestmentDepositsAndPendingDealCosts_00B988615FB53BBE9C0F554171E48A87_documentation_en-US" xlink:label="lab_clny_InvestmentDepositsAndPendingDealCosts_00B988615FB53BBE9C0F554171E48A87" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment Deposits And Pending Deal Costs</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_InvestmentDepositsAndPendingDealCosts" xlink:label="loc_clny_InvestmentDepositsAndPendingDealCosts_00B988615FB53BBE9C0F554171E48A87" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DerivativeAssets_24B04F9D58CF3AB45E55554171E454A9_label_en-US" xlink:label="lab_us-gaap_DerivativeAssets_24B04F9D58CF3AB45E55554171E454A9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Asset</link:label>
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    <link:label id="lab_clny_DeferredTaxAssetsPrepaidTaxesandDeferredTaxAssets_B0DD7403724350998064554171E50BBC_terseLabel_en-US" xlink:label="lab_clny_DeferredTaxAssetsPrepaidTaxesandDeferredTaxAssets_B0DD7403724350998064554171E50BBC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepaid taxes and deferred tax assets, net</link:label>
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    <link:label id="lab_clny_DeferredTaxAssetsPrepaidTaxesandDeferredTaxAssets_B0DD7403724350998064554171E50BBC_documentation_en-US" xlink:label="lab_clny_DeferredTaxAssetsPrepaidTaxesandDeferredTaxAssets_B0DD7403724350998064554171E50BBC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Prepaid Taxes and Deferred Tax Assets</link:label>
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    <link:label id="lab_clny_ResolutionOfInvestmentsReceivable_C494A0B294255C466C28554171E599C1_terseLabel_en-US" xlink:label="lab_clny_ResolutionOfInvestmentsReceivable_C494A0B294255C466C28554171E599C1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivables from resolution of investments</link:label>
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    <link:label id="lab_clny_ResolutionOfInvestmentsReceivable_C494A0B294255C466C28554171E599C1_documentation_en-US" xlink:label="lab_clny_ResolutionOfInvestmentsReceivable_C494A0B294255C466C28554171E599C1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Resolution Of Investments Receivable</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_ResolutionOfInvestmentsReceivable" xlink:label="loc_clny_ResolutionOfInvestmentsReceivable_C494A0B294255C466C28554171E599C1" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OperatingLeaseRightOfUseAsset_3309B7C842512A18D4FD554171E598CC_verboseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseRightOfUseAsset_3309B7C842512A18D4FD554171E598CC" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Operating lease right-of-use asset, net</link:label>
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    <link:label id="lab_srt_MortgageLoansOnRealEstateAbstract_7DBF40BD9CCA438E4DEB1B23EB6C77B1_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateAbstract_7DBF40BD9CCA438E4DEB1B23EB6C77B1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]</link:label>
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    <link:label id="lab_us-gaap_MortgageLoansOnRealEstate_DB3547F6BEC460AD187F1B23EB6D16F6_periodStartLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstate_DB3547F6BEC460AD187F1B23EB6D16F6" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at January 1</link:label>
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    <link:label id="lab_clny_MortgageLoansonRealEstatePaidinKIndInterestAddedtoLoanPrincipal_2E8DE4D0391ECC2DEE9D1B23EB6EBCC5_terseLabel_en-US" xlink:label="lab_clny_MortgageLoansonRealEstatePaidinKIndInterestAddedtoLoanPrincipal_2E8DE4D0391ECC2DEE9D1B23EB6EBCC5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Paid-in-kind interest added to loan principal</link:label>
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    <link:label id="lab_clny_SECSchedule1229RealEstateCompaniesInvestmentinMortgageLoansonRealEstateTransferofLoansHeldforSale_5467BF7ED430610E29411B4F45814047_negatedTerseLabel_en-US" xlink:label="lab_clny_SECSchedule1229RealEstateCompaniesInvestmentinMortgageLoansonRealEstateTransferofLoansHeldforSale_5467BF7ED430610E29411B4F45814047" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Transfer to loans held for sale</link:label>
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    <link:loc xlink:href="clny-20191231.xsd#clny_SECSchedule1229RealEstateCompaniesInvestmentinMortgageLoansonRealEstateTransferofLoansHeldforSale" xlink:label="loc_clny_SECSchedule1229RealEstateCompaniesInvestmentinMortgageLoansonRealEstateTransferofLoansHeldforSale_5467BF7ED430610E29411B4F45814047" xlink:type="locator" />
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    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold_3B4560D30CE2D30705D81B4F4A634FBE_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold_3B4560D30CE2D30705D81B4F4A634FBE" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Carrying value of loans sold</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold" xlink:label="loc_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold_3B4560D30CE2D30705D81B4F4A634FBE" xlink:type="locator" />
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    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateForeclosures_F115FD80C34C5DB4C2B11B50051FBB7D_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateForeclosures_F115FD80C34C5DB4C2B11B50051FBB7D" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Foreclosures and other conversions to real estate</link:label>
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    <link:label id="lab_clny_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateLoansReceivableContributed_E89D232242E3601449EE1B23EB6FB292_negatedTerseLabel_en-US" xlink:label="lab_clny_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateLoansReceivableContributed_E89D232242E3601449EE1B23EB6FB292" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Loans receivable contributed to Colony Credit (Note 4)</link:label>
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    <link:loc xlink:href="clny-20191231.xsd#clny_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateLoansReceivableContributed" xlink:label="loc_clny_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateLoansReceivableContributed_E89D232242E3601449EE1B23EB6FB292" xlink:type="locator" />
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    <link:label id="lab_clny_CompanySponsoredFundsMember_C6347BDE89482F68D76B38F816461C58_terseLabel_en-US" xlink:label="lab_clny_CompanySponsoredFundsMember_297E39ACC411559AB9BA36615314FA71" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company Sponsored Funds</link:label>
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    <link:loc xlink:href="clny-20191231.xsd#clny_CompanySponsoredFundsMember" xlink:label="loc_clny_CompanySponsoredFundsMember_297E39ACC411559AB9BA36615314FA71" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clny_CompanySponsoredFundsMember_297E39ACC411559AB9BA36615314FA71" xlink:to="lab_clny_CompanySponsoredFundsMember_297E39ACC411559AB9BA36615314FA71" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_898993E2E6AF2A0D0B9B38F816464C29_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_A264D32BB67555DDB7AB5CAC0FE28E95" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_898993E2E6AF2A0D0B9B38F816464C29_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_A264D32BB67555DDB7AB5CAC0FE28E95" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:label="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_A264D32BB67555DDB7AB5CAC0FE28E95" xlink:type="locator" />
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    <link:label id="lab_clny_ConsolidatedopenendfundMember_6AAF2C78A602D8C31ACC38F816461E3C_verboseLabel_en-US" xlink:label="lab_clny_ConsolidatedopenendfundMember_DED4769625895187B7F465AD8BD97868" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Consolidated open-end fund</link:label>
    <link:label id="lab_clny_ConsolidatedopenendfundMember_6AAF2C78A602D8C31ACC38F816461E3C_label_en-US" xlink:label="lab_clny_ConsolidatedopenendfundMember_DED4769625895187B7F465AD8BD97868" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated open-end fund [Member]</link:label>
    <link:label id="lab_clny_ConsolidatedopenendfundMember_6AAF2C78A602D8C31ACC38F816461E3C_documentation_en-US" xlink:label="lab_clny_ConsolidatedopenendfundMember_DED4769625895187B7F465AD8BD97868" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Consolidated open-end fund [Member]</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clny_ConsolidatedopenendfundMember_DED4769625895187B7F465AD8BD97868" xlink:to="lab_clny_ConsolidatedopenendfundMember_DED4769625895187B7F465AD8BD97868" xlink:type="arc" />
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    <link:label id="lab_clny_VariableInterestEntityUnconsolidatedMember_02E4B5FF0C0178EF1D3E38F81646981E_label_en-US" xlink:label="lab_clny_VariableInterestEntityUnconsolidatedMember_8744072CE7265564ADEE2B170CDAC078" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Unconsolidated [Member]</link:label>
    <link:label id="lab_clny_VariableInterestEntityUnconsolidatedMember_02E4B5FF0C0178EF1D3E38F81646981E_documentation_en-US" xlink:label="lab_clny_VariableInterestEntityUnconsolidatedMember_8744072CE7265564ADEE2B170CDAC078" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Unconsolidated [Member]</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_VariableInterestEntityUnconsolidatedMember" xlink:label="loc_clny_VariableInterestEntityUnconsolidatedMember_8744072CE7265564ADEE2B170CDAC078" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clny_VariableInterestEntityUnconsolidatedMember_8744072CE7265564ADEE2B170CDAC078" xlink:to="lab_clny_VariableInterestEntityUnconsolidatedMember_8744072CE7265564ADEE2B170CDAC078" xlink:type="arc" />
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    <link:label id="lab_clny_TrustMember_4989622C923BC6630BB238F81646B08C_documentation_en-US" xlink:label="lab_clny_TrustMember_B067D09A937E584CB58143F0EB4BC900" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Trust [Member]</link:label>
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    <link:label id="lab_us-gaap_VariableInterestEntityLineItems_252916F213947A0B9CAB38F816465153_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems_BFB2139187F55CE2984E40455F13A0F2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityLineItems_252916F213947A0B9CAB38F816465153_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems_BFB2139187F55CE2984E40455F13A0F2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
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    <link:label id="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_3598EF352A4BD1B2603E38F81646FEAA_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_E4D88708F3AE5289BD1F97A5814FB438" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exposure to the obligations of the investment entities</link:label>
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    <link:label id="lab_us-gaap_Assets_D4902E0DAF69BF6C8B9A38F816469F53_terseLabel_en-US" xlink:label="lab_us-gaap_Assets_AE6D7BB0D7DF5032B8B53A5203A776EB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total assets of consolidated private fund</link:label>
    <link:label id="lab_us-gaap_Assets_D4902E0DAF69BF6C8B9A38F816469F53_label_en-US" xlink:label="lab_us-gaap_Assets_AE6D7BB0D7DF5032B8B53A5203A776EB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
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    <link:label id="lab_us-gaap_Liabilities_F779DF08B85B521C3A6A38F816464522_terseLabel_en-US" xlink:label="lab_us-gaap_Liabilities_59C0036DB5B954BFB90B8FE19169A008" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total liabilities of consolidated private fund</link:label>
    <link:label id="lab_us-gaap_Liabilities_F779DF08B85B521C3A6A38F816464522_label_en-US" xlink:label="lab_us-gaap_Liabilities_59C0036DB5B954BFB90B8FE19169A008" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
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    <link:label id="lab_clny_VariableInterestEntitySecuritizationVehiclesHeld_B8C1525B1291B747280A38F816462CC2_terseLabel_en-US" xlink:label="lab_clny_VariableInterestEntitySecuritizationVehiclesHeld_A88DE42BFA46599491E7C20F19E0876F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of securitization vehicles held</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clny_VariableInterestEntitySecuritizationVehiclesHeld_A88DE42BFA46599491E7C20F19E0876F" xlink:to="lab_clny_VariableInterestEntitySecuritizationVehiclesHeld_A88DE42BFA46599491E7C20F19E0876F" xlink:type="arc" />
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    <link:label id="lab_us-gaap_OtherNonoperatingIncomeExpense_62B3098EF5847A4CEEED5B02F200075F_terseLabel_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncomeExpense_62B3098EF5847A4CEEED5B02F200075F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other gain (loss), net</link:label>
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    <link:label id="lab_clny_AnnualDividendAmountPerShare_970FBA4253B70DC238C55B02F200C815_terseLabel_en-US" xlink:label="lab_clny_AnnualDividendAmountPerShare_970FBA4253B70DC238C55B02F200C815" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annualized dividend (in dollars per share)</link:label>
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    <link:label id="lab_us-gaap_SaleOfStockPricePerShare_9BC9741BB9C0906143ED5B02F200FA88_terseLabel_en-US" xlink:label="lab_us-gaap_SaleOfStockPricePerShare_9BC9741BB9C0906143ED5B02F200FA88" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale price of outstanding stock (in usd per share)</link:label>
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    <link:label id="lab_clny_AssetsHeldForSaleIncludingDiscontinuedOperations_4C96F412FADA52C91EF0F7A8E3F6685A_documentation_en-US" xlink:label="lab_clny_AssetsHeldForSaleIncludingDiscontinuedOperations_4C96F412FADA52C91EF0F7A8E3F6685A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Assets-Held-For-Sale, Including Discontinued Operations</link:label>
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    <link:label id="lab_us-gaap_OtherAssets_921492C944CB1B0DF312F7A8E3F7B082_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets_921492C944CB1B0DF312F7A8E3F7B082" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other assets ($21,386 and $33,558 at fair value, respectively)</link:label>
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    <link:label id="lab_us-gaap_LiabilitiesAbstract_6D4D0290C350DDC47BE1F7A8E3F76CCE_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract_6D4D0290C350DDC47BE1F7A8E3F76CCE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="loc_us-gaap_LiabilitiesAbstract_6D4D0290C350DDC47BE1F7A8E3F76CCE" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LongTermDebt_6A7E832E75B4D446A335F7A8E3F70910_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt_6A7E832E75B4D446A335F7A8E3F70910" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Debt, net</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_6A7E832E75B4D446A335F7A8E3F70910_label_en-US" xlink:label="lab_us-gaap_LongTermDebt_6A7E832E75B4D446A335F7A8E3F70910" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_6A7E832E75B4D446A335F7A8E3F70910" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AccruedLiabilitiesAndOtherLiabilities_29A1DE09EEBFFEAE6D15F7A8E3F82B7E_terseLabel_en-US" xlink:label="lab_us-gaap_AccruedLiabilitiesAndOtherLiabilities_29A1DE09EEBFFEAE6D15F7A8E3F82B7E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued and other liabilities ($136,861 and $141,711 at fair value, respectively)</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_AccruedLiabilitiesAndOtherLiabilities" xlink:label="loc_us-gaap_AccruedLiabilitiesAndOtherLiabilities_29A1DE09EEBFFEAE6D15F7A8E3F82B7E" xlink:type="locator" />
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    <link:label id="lab_clny_IntangibleLiabilitiesNet_C68BB44BD953E0DF5D22F7A8E3F8EE28_terseLabel_en-US" xlink:label="lab_clny_IntangibleLiabilitiesNet_C68BB44BD953E0DF5D22F7A8E3F8EE28" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible liabilities, net</link:label>
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    <link:label id="lab_clny_IntangibleLiabilitiesNet_C68BB44BD953E0DF5D22F7A8E3F8EE28_documentation_en-US" xlink:label="lab_clny_IntangibleLiabilitiesNet_C68BB44BD953E0DF5D22F7A8E3F8EE28" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible Liabilities, Net</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_IntangibleLiabilitiesNet" xlink:label="loc_clny_IntangibleLiabilitiesNet_C68BB44BD953E0DF5D22F7A8E3F8EE28" xlink:type="locator" />
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    <link:label id="lab_clny_RealEstateLiabilitiesHeldforsale_92E765A5301E9F77C069F7A8E3F89A33_terseLabel_en-US" xlink:label="lab_clny_RealEstateLiabilitiesHeldforsale_92E765A5301E9F77C069F7A8E3F89A33" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities related to assets held for sale</link:label>
    <link:label id="lab_clny_RealEstateLiabilitiesHeldforsale_92E765A5301E9F77C069F7A8E3F89A33_label_en-US" xlink:label="lab_clny_RealEstateLiabilitiesHeldforsale_92E765A5301E9F77C069F7A8E3F89A33" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Liabilities Held-for-sale</link:label>
    <link:label id="lab_clny_RealEstateLiabilitiesHeldforsale_92E765A5301E9F77C069F7A8E3F89A33_documentation_en-US" xlink:label="lab_clny_RealEstateLiabilitiesHeldforsale_92E765A5301E9F77C069F7A8E3F89A33" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Liabilities Held-for-sale</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_RealEstateLiabilitiesHeldforsale" xlink:label="loc_clny_RealEstateLiabilitiesHeldforsale_92E765A5301E9F77C069F7A8E3F89A33" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clny_RealEstateLiabilitiesHeldforsale_92E765A5301E9F77C069F7A8E3F89A33" xlink:to="lab_clny_RealEstateLiabilitiesHeldforsale_92E765A5301E9F77C069F7A8E3F89A33" xlink:type="arc" />
    <link:label id="lab_us-gaap_Liabilities_2AD76DCE10BBAB08323EF7A8E3F94E8F_totalLabel_en-US" xlink:label="lab_us-gaap_Liabilities_2AD76DCE10BBAB08323EF7A8E3F94E8F" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_us-gaap_Liabilities_2AD76DCE10BBAB08323EF7A8E3F94E8F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Liabilities_2AD76DCE10BBAB08323EF7A8E3F94E8F" xlink:to="lab_us-gaap_Liabilities_2AD76DCE10BBAB08323EF7A8E3F94E8F" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_1D7B05D4452B040DE5D0F7A8E3F92CC6_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies_1D7B05D4452B040DE5D0F7A8E3F92CC6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and contingencies (Note 22)</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_1D7B05D4452B040DE5D0F7A8E3F92CC6_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies_1D7B05D4452B040DE5D0F7A8E3F92CC6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="loc_us-gaap_CommitmentsAndContingencies_1D7B05D4452B040DE5D0F7A8E3F92CC6" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount_36EE920A574A0B34E3D9F7A8E3F906BC_terseLabel_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount_36EE920A574A0B34E3D9F7A8E3F906BC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redeemable noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount_36EE920A574A0B34E3D9F7A8E3F906BC_label_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestEquityCarryingAmount_36EE920A574A0B34E3D9F7A8E3F906BC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redeemable Noncontrolling Interest, Equity, Carrying Amount</link:label>
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    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_80AFDA4C1327064AFFE9F7A8E3F9681E_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_80AFDA4C1327064AFFE9F7A8E3F9681E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_80AFDA4C1327064AFFE9F7A8E3F9681E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_80AFDA4C1327064AFFE9F7A8E3F9681E" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_80AFDA4C1327064AFFE9F7A8E3F9681E" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquityAbstract_A588F70BAE692A1A334FF7A8E3F9FECB_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract_A588F70BAE692A1A334FF7A8E3F9FECB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stockholders&#8217; equity:</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityAbstract_A588F70BAE692A1A334FF7A8E3F9FECB_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract_A588F70BAE692A1A334FF7A8E3F9FECB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Attributable to Parent [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="loc_us-gaap_StockholdersEquityAbstract_A588F70BAE692A1A334FF7A8E3F9FECB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityAbstract_A588F70BAE692A1A334FF7A8E3F9FECB" xlink:to="lab_us-gaap_StockholdersEquityAbstract_A588F70BAE692A1A334FF7A8E3F9FECB" xlink:type="arc" />
    <link:label id="lab_us-gaap_PreferredStockValue_E62A5549C5C4DEDEB60EF7A8E3FAD953_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockValue_E62A5549C5C4DEDEB60EF7A8E3FAD953" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, $0.01 par value per share; $1,033,750 and $1,436,605 liquidation preference, respectively; 250,000 shares authorized; 41,350 and 57,464 shares issued and outstanding, respectively</link:label>
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    <link:label id="lab_us-gaap_RealEstateGrossAtCarryingValue_0169AFB93F62F5826FC85A8585B37438_periodStartLabel_en-US" xlink:label="lab_us-gaap_RealEstateGrossAtCarryingValue_0169AFB93F62F5826FC85A8585B37438" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at January 1</link:label>
    <link:label id="lab_us-gaap_RealEstateGrossAtCarryingValue_0169AFB93F62F5826FC85A8585B37438_label_en-US" xlink:label="lab_us-gaap_RealEstateGrossAtCarryingValue_0169AFB93F62F5826FC85A8585B37438" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross</link:label>
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    <link:label id="lab_clny_SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAssumedThroughBusinessCombinations_937472F76B6C72D291D05AF34873BE75_terseLabel_en-US" xlink:label="lab_clny_SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAssumedThroughBusinessCombinations_937472F76B6C72D291D05AF34873BE75" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assumed through the Merger</link:label>
    <link:label id="lab_clny_SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAssumedThroughBusinessCombinations_937472F76B6C72D291D05AF34873BE75_label_en-US" xlink:label="lab_clny_SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAssumedThroughBusinessCombinations_937472F76B6C72D291D05AF34873BE75" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment In Real Estate, Assumed Through Business Combinations</link:label>
    <link:label id="lab_clny_SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAssumedThroughBusinessCombinations_937472F76B6C72D291D05AF34873BE75_documentation_en-US" xlink:label="lab_clny_SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAssumedThroughBusinessCombinations_937472F76B6C72D291D05AF34873BE75" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment In Real Estate, Assumed Through Business Combinations</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAssumedThroughBusinessCombinations" xlink:label="loc_clny_SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAssumedThroughBusinessCombinations_937472F76B6C72D291D05AF34873BE75" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RealEstateAcquisitionsThroughForeclosures_139DCB2608A411011BB55A8585B3EF66_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAcquisitionsThroughForeclosures_139DCB2608A411011BB55A8585B3EF66" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assumed through foreclosures or restructuring of mortgage loans</link:label>
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    <link:label id="lab_us-gaap_RealEstateOtherAcquisitions_8C095ABAB1A087C23E5D5A8585B491B4_verboseLabel_en-US" xlink:label="lab_us-gaap_RealEstateOtherAcquisitions_8C095ABAB1A087C23E5D5A8585B491B4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Acquisitions</link:label>
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    <link:label id="lab_us-gaap_RealEstateImprovements_BE59ABE66DD9BB75E0475A8585B41EC5_label_en-US" xlink:label="lab_us-gaap_RealEstateImprovements_BE59ABE66DD9BB75E0475A8585B41EC5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Improvements</link:label>
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    <link:label id="lab_clny_SECScheduleIIIRealEstateDeconsolidationByInvestmentEntity_01B03532183ABD667E285A8585B4AFB2_documentation_en-US" xlink:label="lab_clny_SECScheduleIIIRealEstateDeconsolidationByInvestmentEntity_01B03532183ABD667E285A8585B4AFB2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Deconsolidation By Investment Entity</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_SECScheduleIIIRealEstateDeconsolidationByInvestmentEntity" xlink:label="loc_clny_SECScheduleIIIRealEstateDeconsolidationByInvestmentEntity_01B03532183ABD667E285A8585B4AFB2" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RealEstateCostOfRealEstateSold_E76CA5E467536A875A325A8585B4BF75_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RealEstateCostOfRealEstateSold_E76CA5E467536A875A325A8585B4BF75" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Dispositions</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateCostOfRealEstateSold" xlink:label="loc_us-gaap_RealEstateCostOfRealEstateSold_E76CA5E467536A875A325A8585B4BF75" xlink:type="locator" />
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    <link:label id="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_E74A2DAB01C4E904D6B15A8585B4EC1E_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_E74A2DAB01C4E904D6B15A8585B4EC1E" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Impairment</link:label>
    <link:label id="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_E74A2DAB01C4E904D6B15A8585B4EC1E_label_en-US" xlink:label="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_E74A2DAB01C4E904D6B15A8585B4EC1E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Write-down or Reserve, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount" xlink:label="loc_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_E74A2DAB01C4E904D6B15A8585B4EC1E" xlink:type="locator" />
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    <link:label id="lab_clny_SECSchedule1228RealEstateCompaniesInvestmentinRealEstateGrossEffectofChangesinForeignExchangeRates_4BC55CE2793B9C35FCB35A8585B44A86_terseLabel_en-US" xlink:label="lab_clny_SECSchedule1228RealEstateCompaniesInvestmentinRealEstateGrossEffectofChangesinForeignExchangeRates_4BC55CE2793B9C35FCB35A8585B44A86" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of changes in foreign exchange rates</link:label>
    <link:label id="lab_clny_SECSchedule1228RealEstateCompaniesInvestmentinRealEstateGrossEffectofChangesinForeignExchangeRates_4BC55CE2793B9C35FCB35A8585B44A86_label_en-US" xlink:label="lab_clny_SECSchedule1228RealEstateCompaniesInvestmentinRealEstateGrossEffectofChangesinForeignExchangeRates_4BC55CE2793B9C35FCB35A8585B44A86" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross, Effect of Changes in Foreign Exchange Rates</link:label>
    <link:label id="lab_clny_SECSchedule1228RealEstateCompaniesInvestmentinRealEstateGrossEffectofChangesinForeignExchangeRates_4BC55CE2793B9C35FCB35A8585B44A86_documentation_en-US" xlink:label="lab_clny_SECSchedule1228RealEstateCompaniesInvestmentinRealEstateGrossEffectofChangesinForeignExchangeRates_4BC55CE2793B9C35FCB35A8585B44A86" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross, Effect of Changes in Foreign Exchange Rates</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_SECSchedule1228RealEstateCompaniesInvestmentinRealEstateGrossEffectofChangesinForeignExchangeRates" xlink:label="loc_clny_SECSchedule1228RealEstateCompaniesInvestmentinRealEstateGrossEffectofChangesinForeignExchangeRates_4BC55CE2793B9C35FCB35A8585B44A86" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RealEstateGrossAtCarryingValue_3B04DD10D75444944A4A5A8585B5D4D3_periodEndLabel_en-US" xlink:label="lab_us-gaap_RealEstateGrossAtCarryingValue_3B04DD10D75444944A4A5A8585B5D4D3" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at December 31</link:label>
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    <link:label id="lab_clny_SECScheduleIIIRealEstateGrossHeldforSaleNet_112F75EE112C64E358115A8585B558ED_negatedTerseLabel_en-US" xlink:label="lab_clny_SECScheduleIIIRealEstateGrossHeldforSaleNet_112F75EE112C64E358115A8585B558ED" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Classified as held for sale, net</link:label>
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    <link:label id="lab_clny_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetContribution_05F6948397E30271F4E95B02EFBEA04F_documentation_en-US" xlink:label="lab_clny_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetContribution_05F6948397E30271F4E95B02EFBEA04F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Contribution</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetContribution" xlink:label="loc_clny_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetContribution_05F6948397E30271F4E95B02EFBEA04F" xlink:type="locator" />
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    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1_2A27EB077BA32F681C0D5B02EFBEBD61_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1_2A27EB077BA32F681C0D5B02EFBEBD61" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Realized and unrealized gains (losses) in earnings, net</link:label>
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    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_51C3CE1226880676C8D05B02EFBE2EC2_periodEndLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_51C3CE1226880676C8D05B02EFBE2EC2" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Fair value, asset value</link:label>
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    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_334E6A861CEF22D4C2A75B02EFBFFF9A_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_334E6A861CEF22D4C2A75B02EFBFFF9A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrealized gains (losses) on ending balance in earnings</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_334E6A861CEF22D4C2A75B02EFBFFF9A_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_334E6A861CEF22D4C2A75B02EFBFFF9A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss_334E6A861CEF22D4C2A75B02EFBFFF9A" xlink:type="locator" />
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    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_7F73BD6D15D453C543195B02EFBF4D98_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_7F73BD6D15D453C543195B02EFBF4D98" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 3 Liabilities</link:label>
    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_7F73BD6D15D453C543195B02EFBF4D98_label_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_7F73BD6D15D453C543195B02EFBF4D98" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_7F73BD6D15D453C543195B02EFBF4D98" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_93F80FDFC43D500A99F95B02EFBF8B83" xlink:type="locator" />
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    <link:label id="lab_clny_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisLiabilityConsiderationForBusinessCombination_6493B5CBE35183D126C65B02EFC04F7E_negatedTerseLabel_en-US" xlink:label="lab_clny_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisLiabilityConsiderationForBusinessCombination_6493B5CBE35183D126C65B02EFC04F7E" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Consideration for business combination</link:label>
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    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases_DA71CD1AD6DE3CD9C7655B02EFC0DAE7_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases_DA71CD1AD6DE3CD9C7655B02EFC0DAE7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchases, contribution or accretion</link:label>
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    <link:label id="lab_us-gaap_IncomeStatementAbstract_549E3C7E8CB2C2B38C5D1730061454B4_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract_549E3C7E8CB2C2B38C5D1730061454B4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
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    <link:label id="lab_us-gaap_RealEstateOtherMember_53A4740C462CD6220A95173006144DB4_verboseLabel_en-US" xlink:label="lab_us-gaap_RealEstateOtherMember_53A4740C462CD6220A95173006144DB4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other Income</link:label>
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    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_BFDA4A02353A6DDF3F161730061432E8_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_BFDA4A02353A6DDF3F161730061432E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party [Axis]</link:label>
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    <link:label id="lab_us-gaap_RelatedPartyDomain_47452DDC1938B453DBC317300614390E_label_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain_47452DDC1938B453DBC317300614390E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party [Domain]</link:label>
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    <link:label id="lab_srt_AffiliatedEntityMember_5AC4F0A0564C4E7347F61730061D5CFE_terseLabel_en-US" xlink:label="lab_srt_AffiliatedEntityMember_5AC4F0A0564C4E7347F61730061D5CFE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Affiliated Entity</link:label>
    <link:label id="lab_srt_AffiliatedEntityMember_5AC4F0A0564C4E7347F61730061D5CFE_label_en-US" xlink:label="lab_srt_AffiliatedEntityMember_5AC4F0A0564C4E7347F61730061D5CFE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Affiliated Entity [Member]</link:label>
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_4EC245891BCCE60242985A105C8B342D_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_4EC245891BCCE60242985A105C8B342D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_4EC245891BCCE60242985A105C8B342D_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_4EC245891BCCE60242985A105C8B342D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payments to be Received, Next Twelve Months</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_4EC245891BCCE60242985A105C8B342D" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_0BB0AF30A3D0E4C7E6785A105C8B2515_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_0BB0AF30A3D0E4C7E6785A105C8B2515" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2021</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_0BB0AF30A3D0E4C7E6785A105C8B2515" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_3D0CA0506BBDF54E085D5A105C8CF4CF_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_3D0CA0506BBDF54E085D5A105C8CF4CF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2022</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_3D0CA0506BBDF54E085D5A105C8CF4CF_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_3D0CA0506BBDF54E085D5A105C8CF4CF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payments to be Received, Three Years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_3D0CA0506BBDF54E085D5A105C8CF4CF" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_94C564EE790DA8A777FB5A105C8CDB5F_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_94C564EE790DA8A777FB5A105C8CDB5F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2023</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_94C564EE790DA8A777FB5A105C8CDB5F" xlink:type="locator" />
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears_29240A1918CBC117016F5A105C8C76AC" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears_29240A1918CBC117016F5A105C8C76AC" xlink:type="arc" />
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_B9472FB6448B523B5F175A105C8C72A7_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_B9472FB6448B523B5F175A105C8C72A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2025 and thereafter</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_B9472FB6448B523B5F175A105C8C72A7_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_B9472FB6448B523B5F175A105C8C72A7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payments to be Received, Thereafter</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_B9472FB6448B523B5F175A105C8C72A7" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_54E8173FE68F85A5F3F15A105C8C222E_totalLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_54E8173FE68F85A5F3F15A105C8C222E" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_54E8173FE68F85A5F3F15A105C8C222E_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_54E8173FE68F85A5F3F15A105C8C222E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payments to be Received</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_F492A489736FCF2EB6DBF917145E55B9_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_F492A489736FCF2EB6DBF917145E55B9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Credit Quality Indicator [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable" xlink:label="loc_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_F492A489736FCF2EB6DBF917145E55B9" xlink:type="locator" />
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    <link:label id="lab_clny_FixedRateCommercialMortgageMember_19734E6D788E68A9DA9BF9171460F0A4_terseLabel_en-US" xlink:label="lab_clny_FixedRateCommercialMortgageMember_19734E6D788E68A9DA9BF9171460F0A4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed rate</link:label>
    <link:label id="lab_clny_FixedRateCommercialMortgageMember_19734E6D788E68A9DA9BF9171460F0A4_label_en-US" xlink:label="lab_clny_FixedRateCommercialMortgageMember_19734E6D788E68A9DA9BF9171460F0A4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed Rate Commercial Mortgage [Member]</link:label>
    <link:label id="lab_clny_FixedRateCommercialMortgageMember_19734E6D788E68A9DA9BF9171460F0A4_documentation_en-US" xlink:label="lab_clny_FixedRateCommercialMortgageMember_19734E6D788E68A9DA9BF9171460F0A4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fixed Rate Commercial Mortgage [Member]</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_FixedRateCommercialMortgageMember" xlink:label="loc_clny_FixedRateCommercialMortgageMember_19734E6D788E68A9DA9BF9171460F0A4" xlink:type="locator" />
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    <link:label id="lab_clny_AdjustableRateCommercialMortgageMember_C45F02C709014557EC19F917146078B9_terseLabel_en-US" xlink:label="lab_clny_AdjustableRateCommercialMortgageMember_C45F02C709014557EC19F917146078B9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable rate</link:label>
    <link:label id="lab_clny_AdjustableRateCommercialMortgageMember_C45F02C709014557EC19F917146078B9_label_en-US" xlink:label="lab_clny_AdjustableRateCommercialMortgageMember_C45F02C709014557EC19F917146078B9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustable Rate Commercial Mortgage [Member]</link:label>
    <link:label id="lab_clny_AdjustableRateCommercialMortgageMember_C45F02C709014557EC19F917146078B9_documentation_en-US" xlink:label="lab_clny_AdjustableRateCommercialMortgageMember_C45F02C709014557EC19F917146078B9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustable Rate Commercial Mortgage [Member]</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_AdjustableRateCommercialMortgageMember" xlink:label="loc_clny_AdjustableRateCommercialMortgageMember_C45F02C709014557EC19F917146078B9" xlink:type="locator" />
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    <link:label id="lab_us-gaap_MortgageReceivablesMember_BEA125C797F644DEA047F917146282C6_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageReceivablesMember_BEA125C797F644DEA047F917146282C6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage loans</link:label>
    <link:label id="lab_us-gaap_MortgageReceivablesMember_BEA125C797F644DEA047F917146282C6_label_en-US" xlink:label="lab_us-gaap_MortgageReceivablesMember_BEA125C797F644DEA047F917146282C6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Receivable [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_MortgageReceivablesMember" xlink:label="loc_us-gaap_MortgageReceivablesMember_BEA125C797F644DEA047F917146282C6" xlink:type="locator" />
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    <link:label id="lab_clny_MezzanineLoansMember_E641D084E514785819E9F9171462F544_terseLabel_en-US" xlink:label="lab_clny_MezzanineLoansMember_E641D084E514785819E9F9171462F544" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mezzanine loans</link:label>
    <link:label id="lab_clny_MezzanineLoansMember_E641D084E514785819E9F9171462F544_label_en-US" xlink:label="lab_clny_MezzanineLoansMember_E641D084E514785819E9F9171462F544" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mezzanine Loans [Member]</link:label>
    <link:label id="lab_clny_MezzanineLoansMember_E641D084E514785819E9F9171462F544_documentation_en-US" xlink:label="lab_clny_MezzanineLoansMember_E641D084E514785819E9F9171462F544" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents information pertaining to mezzanine loans.</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_MezzanineLoansMember" xlink:label="loc_clny_MezzanineLoansMember_E641D084E514785819E9F9171462F544" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clny_MezzanineLoansMember_E641D084E514785819E9F9171462F544" xlink:to="lab_clny_MezzanineLoansMember_E641D084E514785819E9F9171462F544" xlink:type="arc" />
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_4B58C88B4F673ECE58EDF917146248AE_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_4B58C88B4F673ECE58EDF917146248AE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing Receivable, Credit Quality Indicator [Line Items]</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_4B58C88B4F673ECE58EDF917146248AE_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_4B58C88B4F673ECE58EDF917146248AE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Credit Quality Indicator [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentLineItems_4B58C88B4F673ECE58EDF917146248AE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRecordedInvestmentLineItems_4B58C88B4F673ECE58EDF917146248AE" xlink:to="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_4B58C88B4F673ECE58EDF917146248AE" xlink:type="arc" />
    <link:label id="lab_us-gaap_PrincipalAmountOutstandingOfLoansHeldInPortfolio_D5043014EA45ACF8292BF917146336B4_verboseLabel_en-US" xlink:label="lab_us-gaap_PrincipalAmountOutstandingOfLoansHeldInPortfolio_D5043014EA45ACF8292BF917146336B4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Unpaid Principal Balance</link:label>
    <link:label id="lab_us-gaap_PrincipalAmountOutstandingOfLoansHeldInPortfolio_D5043014EA45ACF8292BF917146336B4_label_en-US" xlink:label="lab_us-gaap_PrincipalAmountOutstandingOfLoansHeldInPortfolio_D5043014EA45ACF8292BF917146336B4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Principal Amount Outstanding of Loans Held-in-portfolio</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PrincipalAmountOutstandingOfLoansHeldInPortfolio" xlink:label="loc_us-gaap_PrincipalAmountOutstandingOfLoansHeldInPortfolio_D5043014EA45ACF8292BF917146336B4" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_54891F3BCADB171F4282F917146311DF_verboseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_54891F3BCADB171F4282F917146311DF" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Carrying Value</link:label>
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_54891F3BCADB171F4282F917146311DF_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_54891F3BCADB171F4282F917146311DF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans and Leases Receivable, Net of Deferred Income</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_54891F3BCADB171F4282F917146311DF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_54891F3BCADB171F4282F917146311DF" xlink:to="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_54891F3BCADB171F4282F917146311DF" xlink:type="arc" />
    <link:label id="lab_clny_WeightedAverageCouponRateOfLoans_9766BC8A486FE360ECEEF9171463F8F7_terseLabel_en-US" xlink:label="lab_clny_WeightedAverageCouponRateOfLoans_9766BC8A486FE360ECEEF9171463F8F7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted Average Coupon, percentage</link:label>
    <link:label id="lab_clny_WeightedAverageCouponRateOfLoans_9766BC8A486FE360ECEEF9171463F8F7_label_en-US" xlink:label="lab_clny_WeightedAverageCouponRateOfLoans_9766BC8A486FE360ECEEF9171463F8F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Coupon Rate Of Loans</link:label>
    <link:label id="lab_clny_WeightedAverageCouponRateOfLoans_9766BC8A486FE360ECEEF9171463F8F7_documentation_en-US" xlink:label="lab_clny_WeightedAverageCouponRateOfLoans_9766BC8A486FE360ECEEF9171463F8F7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Weighted Average Coupon Rate Of Loans</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_WeightedAverageCouponRateOfLoans" xlink:label="loc_clny_WeightedAverageCouponRateOfLoans_9766BC8A486FE360ECEEF9171463F8F7" xlink:type="locator" />
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    <link:label id="lab_clny_LoansWeightedAverageMaturityInYears_DF7BF75032CC372EE373F91714634927_documentation_en-US" xlink:label="lab_clny_LoansWeightedAverageMaturityInYears_DF7BF75032CC372EE373F91714634927" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loans Weighted Average Maturity In Years</link:label>
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    <link:label id="lab_us-gaap_LoansAndLeasesReceivableAllowance_3F5316B6119617A45312F9171463B59E_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowance_3F5316B6119617A45312F9171463B59E" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Allowance for loan losses</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_LoansAndLeasesReceivableAllowance" xlink:label="loc_us-gaap_LoansAndLeasesReceivableAllowance_3F5316B6119617A45312F9171463B59E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_SeriesAPreferredStockMember_4447D4AE178943929A951B69A19F3F56_label_en-US" xlink:label="lab_us-gaap_SeriesAPreferredStockMember_4447D4AE178943929A951B69A19F3F56" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series A Preferred Stock [Member]</link:label>
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    <link:label id="lab_us-gaap_SeriesBPreferredStockMember_57988740EEDD7649A0301B69A19F3E67_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesBPreferredStockMember_57988740EEDD7649A0301B69A19F3E67" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series B 8.25%</link:label>
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    <link:label id="lab_us-gaap_SeriesCPreferredStockMember_6487C369C73463DD920D1B69A19F375E_label_en-US" xlink:label="lab_us-gaap_SeriesCPreferredStockMember_6487C369C73463DD920D1B69A19F375E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series C Preferred Stock [Member]</link:label>
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    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_FCD0AD9F4CA41585AD1506A04751376A_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_FCD0AD9F4CA41585AD1506A04751376A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020</link:label>
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    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_0DB7BE5E0E05CA5321D306A047518404_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_0DB7BE5E0E05CA5321D306A047518404" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2021</link:label>
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    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_2EFB73809E42733ECAE306A047571BD2_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_2EFB73809E42733ECAE306A047571BD2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2022</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_2EFB73809E42733ECAE306A047571BD2_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_2EFB73809E42733ECAE306A047571BD2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Four Years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_2EFB73809E42733ECAE306A047571BD2" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_FA1A2D5F2BD76239D0D306A04757894E_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_FA1A2D5F2BD76239D0D306A04757894E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2023</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_FA1A2D5F2BD76239D0D306A04757894E_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_FA1A2D5F2BD76239D0D306A04757894E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Five Years</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_FA1A2D5F2BD76239D0D306A04757894E" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_FA1A2D5F2BD76239D0D306A04757894E" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_6819E5797A04F0A8676B06A047578BCD_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_6819E5797A04F0A8676B06A047578BCD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2024 and thereafter</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_NoncontrollingInterestIncreaseFromBusinessCombination" xlink:label="loc_us-gaap_NoncontrollingInterestIncreaseFromBusinessCombination_23DF2914BCB36A0823AA0BAE0F1E502C" xlink:type="locator" />
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    <link:label id="lab_us-gaap_StraightLineRent_416EC42CCB1B2B40D4F392B7F9F53139_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StraightLineRent_416EC42CCB1B2B40D4F392B7F9F53139" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Straight-line rents</link:label>
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    <link:label id="lab_us-gaap_AmortizationOfAboveAndBelowMarketLeases_8882CBC3B0F6E1F3A97E92B7F9F6D68E_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfAboveAndBelowMarketLeases_8882CBC3B0F6E1F3A97E92B7F9F6D68E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of above- and below-market lease values, net</link:label>
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    <link:label id="lab_clny_IncomeLossFromEquityMethodInvestmentsIncludingCarriedInterest_7EA676508F0C071A523892B7F9F69BEA_negatedLabel_en-US" xlink:label="lab_clny_IncomeLossFromEquityMethodInvestmentsIncludingCarriedInterest_7EA676508F0C071A523892B7F9F69BEA" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Equity method (earnings) losses</link:label>
    <link:label id="lab_clny_IncomeLossFromEquityMethodInvestmentsIncludingCarriedInterest_7EA676508F0C071A523892B7F9F69BEA_label_en-US" xlink:label="lab_clny_IncomeLossFromEquityMethodInvestmentsIncludingCarriedInterest_7EA676508F0C071A523892B7F9F69BEA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) From Equity Method Investments, Including Carried Interest</link:label>
    <link:label id="lab_clny_IncomeLossFromEquityMethodInvestmentsIncludingCarriedInterest_7EA676508F0C071A523892B7F9F69BEA_documentation_en-US" xlink:label="lab_clny_IncomeLossFromEquityMethodInvestmentsIncludingCarriedInterest_7EA676508F0C071A523892B7F9F69BEA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income (Loss) From Equity Method Investments, Including Carried Interest</link:label>
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    <link:label id="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_660326946FD0FBA0D41C92B7F9F6449A_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_660326946FD0FBA0D41C92B7F9F6449A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distributions of income from equity method investments</link:label>
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    <link:label id="lab_us-gaap_ProvisionForLoanAndLeaseLosses_A6916E9AD6CE84C0C5F392B7F9F64C8B_label_en-US" xlink:label="lab_us-gaap_ProvisionForLoanAndLeaseLosses_A6916E9AD6CE84C0C5F392B7F9F64C8B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provision for Loan and Lease Losses</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProvisionForLoanAndLeaseLosses" xlink:label="loc_us-gaap_ProvisionForLoanAndLeaseLosses_A6916E9AD6CE84C0C5F392B7F9F64C8B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProvisionForLoanAndLeaseLosses_A6916E9AD6CE84C0C5F392B7F9F64C8B" xlink:to="lab_us-gaap_ProvisionForLoanAndLeaseLosses_A6916E9AD6CE84C0C5F392B7F9F64C8B" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProvisionForDoubtfulAccounts_9453A6F56974ED0B0B4992B7F9F621E1_terseLabel_en-US" xlink:label="lab_us-gaap_ProvisionForDoubtfulAccounts_9453A6F56974ED0B0B4992B7F9F621E1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Allowance for doubtful accounts</link:label>
    <link:label id="lab_us-gaap_ProvisionForDoubtfulAccounts_9453A6F56974ED0B0B4992B7F9F621E1_label_en-US" xlink:label="lab_us-gaap_ProvisionForDoubtfulAccounts_9453A6F56974ED0B0B4992B7F9F621E1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable, Credit Loss Expense (Reversal)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="loc_us-gaap_ProvisionForDoubtfulAccounts_9453A6F56974ED0B0B4992B7F9F621E1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProvisionForDoubtfulAccounts_9453A6F56974ED0B0B4992B7F9F621E1" xlink:to="lab_us-gaap_ProvisionForDoubtfulAccounts_9453A6F56974ED0B0B4992B7F9F621E1" xlink:type="arc" />
    <link:label id="lab_us-gaap_DepreciationAmortizationAndAccretionNet_D1328FFFFE93118BBD1292B7F9F79490_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationAmortizationAndAccretionNet_D1328FFFFE93118BBD1292B7F9F79490" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_DepreciationAmortizationAndAccretionNet_D1328FFFFE93118BBD1292B7F9F79490_label_en-US" xlink:label="lab_us-gaap_DepreciationAmortizationAndAccretionNet_D1328FFFFE93118BBD1292B7F9F79490" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Amortization and Accretion, Net</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensation_4437EC46C8F981D355C092B7F9F7E519_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation_4437EC46C8F981D355C092B7F9F7E519" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity-based compensation</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensation_4437EC46C8F981D355C092B7F9F7E519_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation_4437EC46C8F981D355C092B7F9F7E519" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement, Noncash Expense</link:label>
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    <link:label id="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_119917D29D52588E01C992B7F9F7DC5B_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_119917D29D52588E01C992B7F9F7DC5B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in fair value of contingent consideration&#8212;Internalization (Note 12)</link:label>
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    <link:label id="lab_clny_GainsLossesOnSalesOfRealEstateAssetsNet_A267D7294E1DDCFA0B3992B7F9F772DE_negatedTerseLabel_en-US" xlink:label="lab_clny_GainsLossesOnSalesOfRealEstateAssetsNet_A267D7294E1DDCFA0B3992B7F9F772DE" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Gain on sales of real estate, net</link:label>
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    <link:label id="lab_us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates_EBDDB57BD18C35B546A392B7F9F9E953_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates_EBDDB57BD18C35B546A392B7F9F9E953" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Contributions to and acquisition of equity investments</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital_118C04BFC5F20BD8249292B7F9F9EDB7_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital_118C04BFC5F20BD8249292B7F9F9EDB7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Return of capital from equity method investments</link:label>
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    <link:label id="lab_clny_ProceedsfromExcessofAccretiononNonperformingFinancingReceivable_3BF1FB31A87C839F275E92B7F9FA66DE_documentation_en-US" xlink:label="lab_clny_ProceedsfromExcessofAccretiononNonperformingFinancingReceivable_3BF1FB31A87C839F275E92B7F9FA66DE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from Excess of Accretion on Nonperforming Financing Receivable</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_ProceedsfromExcessofAccretiononNonperformingFinancingReceivable" xlink:label="loc_clny_ProceedsfromExcessofAccretiononNonperformingFinancingReceivable_3BF1FB31A87C839F275E92B7F9FA66DE" xlink:type="locator" />
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    <link:label id="lab_clny_PaymentsToAcquireRealEstateAndRelatedIntangibleAssetsAndLeasingCommissions_D279465EFFF657C3861D92B7F9FBC038_negatedLabel_en-US" xlink:label="lab_clny_PaymentsToAcquireRealEstateAndRelatedIntangibleAssetsAndLeasingCommissions_D279465EFFF657C3861D92B7F9FBC038" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisition of and additions to real estate, related intangibles and leasing commissions</link:label>
    <link:label id="lab_clny_PaymentsToAcquireRealEstateAndRelatedIntangibleAssetsAndLeasingCommissions_D279465EFFF657C3861D92B7F9FBC038_label_en-US" xlink:label="lab_clny_PaymentsToAcquireRealEstateAndRelatedIntangibleAssetsAndLeasingCommissions_D279465EFFF657C3861D92B7F9FBC038" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments To Acquire Real Estate And Related Intangible Assets And Leasing Commissions</link:label>
    <link:label id="lab_clny_PaymentsToAcquireRealEstateAndRelatedIntangibleAssetsAndLeasingCommissions_D279465EFFF657C3861D92B7F9FBC038_documentation_en-US" xlink:label="lab_clny_PaymentsToAcquireRealEstateAndRelatedIntangibleAssetsAndLeasingCommissions_D279465EFFF657C3861D92B7F9FBC038" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payments to acquire real estate and related intangible assets and leasing commissions</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_PaymentsToAcquireRealEstateAndRelatedIntangibleAssetsAndLeasingCommissions" xlink:label="loc_clny_PaymentsToAcquireRealEstateAndRelatedIntangibleAssetsAndLeasingCommissions_D279465EFFF657C3861D92B7F9FBC038" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_D3C40390AF41E42A008692B7F9FBCD5C_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_D3C40390AF41E42A008692B7F9FBCD5C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sales of real estate</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_D3C40390AF41E42A008692B7F9FBCD5C_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_D3C40390AF41E42A008692B7F9FBCD5C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale of Real Estate Held-for-investment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:label="loc_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_D3C40390AF41E42A008692B7F9FBCD5C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_D3C40390AF41E42A008692B7F9FBCD5C" xlink:to="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_D3C40390AF41E42A008692B7F9FBCD5C" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_E22D40DFADC85AFD3E5992B7F9FBB2B9_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_E22D40DFADC85AFD3E5992B7F9FBB2B9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from paydown and maturity of debt securities</link:label>
    <link:label id="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_E22D40DFADC85AFD3E5992B7F9FBB2B9_label_en-US" xlink:label="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_E22D40DFADC85AFD3E5992B7F9FBB2B9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_E22D40DFADC85AFD3E5992B7F9FBB2B9" xlink:to="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_E22D40DFADC85AFD3E5992B7F9FBB2B9" xlink:type="arc" />
    <link:label id="lab_clny_PaymentsOfCashAndRestrictedCashToSubsidiary_EA5E280A0A596640391F92B7F9FB2101_negatedTerseLabel_en-US" xlink:label="lab_clny_PaymentsOfCashAndRestrictedCashToSubsidiary_EA5E280A0A596640391F92B7F9FB2101" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Cash and restricted cash contributed to CLNC (Note 6)</link:label>
    <link:label id="lab_clny_PaymentsOfCashAndRestrictedCashToSubsidiary_EA5E280A0A596640391F92B7F9FB2101_label_en-US" xlink:label="lab_clny_PaymentsOfCashAndRestrictedCashToSubsidiary_EA5E280A0A596640391F92B7F9FB2101" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments Of Cash And Restricted Cash To Subsidiary</link:label>
    <link:label id="lab_clny_PaymentsOfCashAndRestrictedCashToSubsidiary_EA5E280A0A596640391F92B7F9FB2101_documentation_en-US" xlink:label="lab_clny_PaymentsOfCashAndRestrictedCashToSubsidiary_EA5E280A0A596640391F92B7F9FB2101" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payments Of Cash And Restricted Cash To Subsidiary</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromSaleOfEquityMethodInvestments_9179133D0FDB7783423E92B7F9FB0E37_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfEquityMethodInvestments_9179133D0FDB7783423E92B7F9FB0E37" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sale of equity interests in securitization trusts, net of cash and restricted cash deconsolidated (Note 13)</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfEquityMethodInvestments_9179133D0FDB7783423E92B7F9FB0E37_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfEquityMethodInvestments_9179133D0FDB7783423E92B7F9FB0E37" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale of Equity Method Investments</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivables_ABEC50A959595509F14292B7F9FB82A8_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivables_ABEC50A959595509F14292B7F9FB82A8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sale of equity interests in securitization trusts, net of cash and restricted cash deconsolidated (Note 13)</link:label>
    <link:label id="lab_us-gaap_ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivables_ABEC50A959595509F14292B7F9FB82A8_label_en-US" xlink:label="lab_us-gaap_ProceedsFromCollectionOfRetainedInterestInSecuritizedReceivables_ABEC50A959595509F14292B7F9FB82A8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Collection of Retained Interest in Securitized Receivables</link:label>
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    <link:label id="lab_clny_Proceedsfromsyndicationofinvestmentnetofcashdeconsolidated_6E7AA70BD76BD3C069AA92B7F9FCEFA7_terseLabel_en-US" xlink:label="lab_clny_Proceedsfromsyndicationofinvestmentnetofcashdeconsolidated_6E7AA70BD76BD3C069AA92B7F9FCEFA7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from syndication of investment, net of cash and restricted cash deconsolidated</link:label>
    <link:label id="lab_clny_Proceedsfromsyndicationofinvestmentnetofcashdeconsolidated_6E7AA70BD76BD3C069AA92B7F9FCEFA7_label_en-US" xlink:label="lab_clny_Proceedsfromsyndicationofinvestmentnetofcashdeconsolidated_6E7AA70BD76BD3C069AA92B7F9FCEFA7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from syndication of investment, net of cash deconsolidated</link:label>
    <link:label id="lab_clny_Proceedsfromsyndicationofinvestmentnetofcashdeconsolidated_6E7AA70BD76BD3C069AA92B7F9FCEFA7_documentation_en-US" xlink:label="lab_clny_Proceedsfromsyndicationofinvestmentnetofcashdeconsolidated_6E7AA70BD76BD3C069AA92B7F9FCEFA7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from syndication of investment, net of cash deconsolidated</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clny_Proceedsfromsyndicationofinvestmentnetofcashdeconsolidated_6E7AA70BD76BD3C069AA92B7F9FCEFA7" xlink:to="lab_clny_Proceedsfromsyndicationofinvestmentnetofcashdeconsolidated_6E7AA70BD76BD3C069AA92B7F9FCEFA7" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested_A1F0CAB70A93FED0E13E92B7F9FC19EE_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested_A1F0CAB70A93FED0E13E92B7F9FC19EE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sale of Townsend, net of cash assumed by buyer (Note 18)</link:label>
    <link:label id="lab_us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested_A1F0CAB70A93FED0E13E92B7F9FC19EE_label_en-US" xlink:label="lab_us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested_A1F0CAB70A93FED0E13E92B7F9FC19EE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Divestiture of Businesses, Net of Cash Divested</link:label>
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    <link:label id="lab_clny_PaymentsForInvestmentDeposits_99B8F64E1062525E205C92B7F9FC2CF7_negatedTerseLabel_en-US" xlink:label="lab_clny_PaymentsForInvestmentDeposits_99B8F64E1062525E205C92B7F9FC2CF7" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Investment deposits</link:label>
    <link:label id="lab_clny_PaymentsForInvestmentDeposits_99B8F64E1062525E205C92B7F9FC2CF7_label_en-US" xlink:label="lab_clny_PaymentsForInvestmentDeposits_99B8F64E1062525E205C92B7F9FC2CF7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments For Investment Deposits</link:label>
    <link:label id="lab_clny_PaymentsForInvestmentDeposits_99B8F64E1062525E205C92B7F9FC2CF7_documentation_en-US" xlink:label="lab_clny_PaymentsForInvestmentDeposits_99B8F64E1062525E205C92B7F9FC2CF7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payments For Investment Deposits</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_PaymentsForInvestmentDeposits" xlink:label="loc_clny_PaymentsForInvestmentDeposits_99B8F64E1062525E205C92B7F9FC2CF7" xlink:type="locator" />
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    <link:label id="lab_clny_IncreaseDecreaseinEscrowPayable_23C46EF4F471400A770592B7F9FC5825_terseLabel_en-US" xlink:label="lab_clny_IncreaseDecreaseinEscrowPayable_23C46EF4F471400A770592B7F9FC5825" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Return of borrower escrow deposits</link:label>
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    <link:label id="lab_clny_IncreaseDecreaseinEscrowPayable_23C46EF4F471400A770592B7F9FC5825_documentation_en-US" xlink:label="lab_clny_IncreaseDecreaseinEscrowPayable_23C46EF4F471400A770592B7F9FC5825" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Escrow Payable</link:label>
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    <link:label id="lab_us-gaap_PaymentsForProceedsFromDerivativeInstrumentInvestingActivities_835552734EF1D8B7A7D592B7F9FCFC29_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromDerivativeInstrumentInvestingActivities_835552734EF1D8B7A7D592B7F9FCFC29" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Net receipts (payments) on settlement of derivatives</link:label>
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    <link:label id="lab_us-gaap_ValuationAllowancesAndReservesAdjustments_D70C74C544D7E9A6A03C5B02EB763AF4_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationAllowancesAndReservesAdjustments_D70C74C544D7E9A6A03C5B02EB763AF4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of changes in foreign exchange rates</link:label>
    <link:label id="lab_us-gaap_ValuationAllowancesAndReservesAdjustments_D70C74C544D7E9A6A03C5B02EB763AF4_label_en-US" xlink:label="lab_us-gaap_ValuationAllowancesAndReservesAdjustments_D70C74C544D7E9A6A03C5B02EB763AF4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-09, Valuation Allowances and Reserves, Increase (Decrease) Adjustment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ValuationAllowancesAndReservesAdjustments" xlink:label="loc_us-gaap_ValuationAllowancesAndReservesAdjustments_D70C74C544D7E9A6A03C5B02EB763AF4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ValuationAllowancesAndReservesAdjustments_D70C74C544D7E9A6A03C5B02EB763AF4" xlink:to="lab_us-gaap_ValuationAllowancesAndReservesAdjustments_D70C74C544D7E9A6A03C5B02EB763AF4" xlink:type="arc" />
    <link:label id="lab_us-gaap_ValuationAllowancesAndReservesBalance_45CF44E604116313C7715B02EB7695A7_periodEndLabel_en-US" xlink:label="lab_us-gaap_ValuationAllowancesAndReservesBalance_45CF44E604116313C7715B02EB7695A7" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at December 31</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ValuationAllowancesAndReservesBalance" xlink:label="loc_us-gaap_ValuationAllowancesAndReservesBalance_45CF44E604116313C7715B02EB7695A7" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_552032011CECE407DE0C0CA644871794_terseLabel_en-US" xlink:label="lab_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_552032011CECE407DE0C0CA644871794" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Depreciation</link:label>
    <link:label id="lab_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_552032011CECE407DE0C0CA644871794_label_en-US" xlink:label="lab_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_552032011CECE407DE0C0CA644871794" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:label="loc_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_552032011CECE407DE0C0CA644871794" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RealEstateAccumulatedDepreciation_8AD055A492295F8D54C80CA64488E11B_periodStartLabel_en-US" xlink:label="lab_us-gaap_RealEstateAccumulatedDepreciation_8AD055A492295F8D54C80CA64488E11B" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at January 1</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateAccumulatedDepreciation" xlink:label="loc_us-gaap_RealEstateAccumulatedDepreciation_8AD055A492295F8D54C80CA64488E11B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAccumulatedDepreciation_8AD055A492295F8D54C80CA64488E11B" xlink:to="lab_us-gaap_RealEstateAccumulatedDepreciation_8AD055A492295F8D54C80CA64488E11B" xlink:type="arc" />
    <link:label id="lab_us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense_DDA6BC0E9332C7C004AF0CA64488E4E4_terseLabel_en-US" xlink:label="lab_us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense_DDA6BC0E9332C7C004AF0CA64488E4E4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense" xlink:label="loc_us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense_DDA6BC0E9332C7C004AF0CA64488E4E4" xlink:type="locator" />
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    <link:label id="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationDeconsolidationByInvestmentEntity_722AD76989DC8C192B300CA644882AA3_documentation_en-US" xlink:label="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationDeconsolidationByInvestmentEntity_722AD76989DC8C192B300CA644882AA3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate Accumulated Depreciation, Deconsolidation By Investment Entity</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_SECScheduleIIIRealEstateAccumulatedDepreciationDeconsolidationByInvestmentEntity" xlink:label="loc_clny_SECScheduleIIIRealEstateAccumulatedDepreciationDeconsolidationByInvestmentEntity_722AD76989DC8C192B300CA644882AA3" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold_00F8843CC2E77751CB2A0CA644885782_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold_00F8843CC2E77751CB2A0CA644885782" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Dispositions</link:label>
    <link:label id="lab_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold_00F8843CC2E77751CB2A0CA644885782_label_en-US" xlink:label="lab_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold_00F8843CC2E77751CB2A0CA644885782" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation, Investment in Real Estate Sold</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:label="loc_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold_00F8843CC2E77751CB2A0CA644885782" xlink:type="locator" />
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    <link:label id="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationEffectofForeignExchangeRates_7B579716D201FA6EC9C40CA644882678_verboseLabel_en-US" xlink:label="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationEffectofForeignExchangeRates_7B579716D201FA6EC9C40CA644882678" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Effect of changes in foreign exchange rates</link:label>
    <link:label id="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationEffectofForeignExchangeRates_7B579716D201FA6EC9C40CA644882678_label_en-US" xlink:label="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationEffectofForeignExchangeRates_7B579716D201FA6EC9C40CA644882678" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate Accumulated Depreciation, Effect of Foreign Exchange Rates</link:label>
    <link:label id="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationEffectofForeignExchangeRates_7B579716D201FA6EC9C40CA644882678_documentation_en-US" xlink:label="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationEffectofForeignExchangeRates_7B579716D201FA6EC9C40CA644882678" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate Accumulated Depreciation, Effect of Foreign Exchange Rates</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_SECScheduleIIIRealEstateAccumulatedDepreciationEffectofForeignExchangeRates" xlink:label="loc_clny_SECScheduleIIIRealEstateAccumulatedDepreciationEffectofForeignExchangeRates_7B579716D201FA6EC9C40CA644882678" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RealEstateAccumulatedDepreciation_CC888C3AC83A0EAEB1490CA6448962D6_periodEndLabel_en-US" xlink:label="lab_us-gaap_RealEstateAccumulatedDepreciation_CC888C3AC83A0EAEB1490CA6448962D6" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at December 31, held for investment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_RealEstateAccumulatedDepreciation" xlink:label="loc_us-gaap_RealEstateAccumulatedDepreciation_CC888C3AC83A0EAEB1490CA6448962D6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAccumulatedDepreciation_CC888C3AC83A0EAEB1490CA6448962D6" xlink:to="lab_us-gaap_RealEstateAccumulatedDepreciation_CC888C3AC83A0EAEB1490CA6448962D6" xlink:type="arc" />
    <link:label id="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationRealEstateHeldforSaleNet_AC1489C876DF2035BAA30CA644897EBA_negatedLabel_en-US" xlink:label="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationRealEstateHeldforSaleNet_AC1489C876DF2035BAA30CA644897EBA" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Classified as held for sale, net</link:label>
    <link:label id="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationRealEstateHeldforSaleNet_AC1489C876DF2035BAA30CA644897EBA_label_en-US" xlink:label="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationRealEstateHeldforSaleNet_AC1489C876DF2035BAA30CA644897EBA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate Accumulated Depreciation, Real Estate Held for Sale, Net</link:label>
    <link:label id="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationRealEstateHeldforSaleNet_AC1489C876DF2035BAA30CA644897EBA_documentation_en-US" xlink:label="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationRealEstateHeldforSaleNet_AC1489C876DF2035BAA30CA644897EBA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate Accumulated Depreciation, Real Estate Held for Sale, Net</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_SECScheduleIIIRealEstateAccumulatedDepreciationRealEstateHeldforSaleNet" xlink:label="loc_clny_SECScheduleIIIRealEstateAccumulatedDepreciationRealEstateHeldforSaleNet_AC1489C876DF2035BAA30CA644897EBA" xlink:type="locator" />
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    <link:label id="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationBeforeReclassificationtoHeldforSale_13A83958912322A7359D0CA644894B44_totalLabel_en-US" xlink:label="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationBeforeReclassificationtoHeldforSale_13A83958912322A7359D0CA644894B44" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Balance at December 31, before reclassification to held for sale</link:label>
    <link:label id="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationBeforeReclassificationtoHeldforSale_13A83958912322A7359D0CA644894B44_label_en-US" xlink:label="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationBeforeReclassificationtoHeldforSale_13A83958912322A7359D0CA644894B44" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate Accumulated Depreciation, Before Reclassification to Held for Sale</link:label>
    <link:label id="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationBeforeReclassificationtoHeldforSale_13A83958912322A7359D0CA644894B44_documentation_en-US" xlink:label="lab_clny_SECScheduleIIIRealEstateAccumulatedDepreciationBeforeReclassificationtoHeldforSale_13A83958912322A7359D0CA644894B44" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate Accumulated Depreciation, Before Reclassification to Held for Sale</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_SECScheduleIIIRealEstateAccumulatedDepreciationBeforeReclassificationtoHeldforSale" xlink:label="loc_clny_SECScheduleIIIRealEstateAccumulatedDepreciationBeforeReclassificationtoHeldforSale_13A83958912322A7359D0CA644894B44" xlink:type="locator" />
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    <link:label id="lab_clny_HospitalityMember_6644AFF87FBFC8C9F78E929CB2187318_verboseLabel_en-US" xlink:label="lab_clny_HospitalityMember_6644AFF87FBFC8C9F78E929CB2187318" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Hospitality</link:label>
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    <link:label id="lab_us-gaap_DebtConversionConvertedInstrumentSharesIssued1_1E1B5307AE897D9FC2871CE3437BE18A_label_en-US" xlink:label="lab_us-gaap_DebtConversionConvertedInstrumentSharesIssued1_1E1B5307AE897D9FC2871CE3437BE18A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Conversion, Converted Instrument, Shares Issued</link:label>
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    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_893F182E6359AAFF12651CE3437BD250_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_893F182E6359AAFF12651CE3437BD250" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_893F182E6359AAFF12651CE3437BD250" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="loc_us-gaap_PreferredStockSharesOutstanding_BFBFD8BF82075EC84B201CE3437FA75B" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="loc_us-gaap_CommonStockSharesOutstanding_B1F6EA05269860C8CE521CE3437F6476" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_7CDCD0855D1FEB28A0DB1CE3437F4753" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ManagementServiceMember_975A39F8644BB0927262929CB990A841_terseLabel_en-US" xlink:label="lab_us-gaap_ManagementServiceMember_975A39F8644BB0927262929CB990A841" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fee income ($220,584, $143,218 and $180,892 from affiliates, respectively)</link:label>
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    <link:label id="lab_us-gaap_InvestmentIncomeInterest_59AD02B9290FD96888B9929CB991173F_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentIncomeInterest_59AD02B9290FD96888B9929CB991173F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest income</link:label>
    <link:label id="lab_us-gaap_InvestmentIncomeInterest_59AD02B9290FD96888B9929CB991173F_label_en-US" xlink:label="lab_us-gaap_InvestmentIncomeInterest_59AD02B9290FD96888B9929CB991173F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Income, Interest</link:label>
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    <link:label id="lab_us-gaap_InterestExpenseDebt_C1927FCAAF461C4DDC7F929CB99269CA_label_en-US" xlink:label="lab_us-gaap_InterestExpenseDebt_C1927FCAAF461C4DDC7F929CB99269CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Debt</link:label>
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    <link:label id="lab_clny_PublicFundsMember_F4AE90410755BA691762599909C5AC75_documentation_en-US" xlink:label="lab_clny_PublicFundsMember_F4AE90410755BA691762599909C5AC75" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Funds [Member]</link:label>
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    <link:label id="lab_clny_OtherMember_026A7165B6E3963A9A50599909C53743_terseLabel_en-US" xlink:label="lab_clny_OtherMember_026A7165B6E3963A9A50599909C53743" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_clny_OtherMember_026A7165B6E3963A9A50599909C53743_label_en-US" xlink:label="lab_clny_OtherMember_026A7165B6E3963A9A50599909C53743" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other [Member]</link:label>
    <link:label id="lab_clny_OtherMember_026A7165B6E3963A9A50599909C53743_documentation_en-US" xlink:label="lab_clny_OtherMember_026A7165B6E3963A9A50599909C53743" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other [Member]</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clny_OtherMember_026A7165B6E3963A9A50599909C53743" xlink:to="lab_clny_OtherMember_026A7165B6E3963A9A50599909C53743" xlink:type="arc" />
    <link:label id="lab_us-gaap_ManagementServiceBaseMember_A5C3518C61D43D341167599909C69C8E_terseLabel_en-US" xlink:label="lab_us-gaap_ManagementServiceBaseMember_A5C3518C61D43D341167599909C69C8E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Base management fees ($151,452, $130,384, and $161,414 from affiliates, respectively)</link:label>
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    <link:label id="lab_us-gaap_AssetManagement1Member_1356CF408E68C884E447599909C6F152_terseLabel_en-US" xlink:label="lab_us-gaap_AssetManagement1Member_1356CF408E68C884E447599909C6F152" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset management fees ($2,371, $2,078, and $3,069 from affiliates, respectively)</link:label>
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    <link:label id="lab_clny_ManagementServiceAcquisitionAndDispositionMember_3FF1C83F7CAAAF06055C599909C6DA96_terseLabel_en-US" xlink:label="lab_clny_ManagementServiceAcquisitionAndDispositionMember_3FF1C83F7CAAAF06055C599909C6DA96" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition and disposition fees&#8212;from affiliates</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_ManagementServiceAcquisitionAndDispositionMember" xlink:label="loc_clny_ManagementServiceAcquisitionAndDispositionMember_3FF1C83F7CAAAF06055C599909C6DA96" xlink:type="locator" />
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    <link:loc xlink:href="clny-20191231.xsd#clny_TerminationFeeMember" xlink:label="loc_clny_TerminationFeeMember_943DC436437039151A54599909C66E0F" xlink:type="locator" />
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    <link:label id="lab_clny_ManagementServiceOtherMember_C59D3771DC480BEB4620599909C7665F_terseLabel_en-US" xlink:label="lab_clny_ManagementServiceOtherMember_C59D3771DC480BEB4620599909C7665F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other fee income ($2,206, $3,389 and $0 from affiliates, respectively)</link:label>
    <link:label id="lab_clny_ManagementServiceOtherMember_C59D3771DC480BEB4620599909C7665F_label_en-US" xlink:label="lab_clny_ManagementServiceOtherMember_C59D3771DC480BEB4620599909C7665F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Service, Other [Member]</link:label>
    <link:label id="lab_clny_ManagementServiceOtherMember_C59D3771DC480BEB4620599909C7665F_documentation_en-US" xlink:label="lab_clny_ManagementServiceOtherMember_C59D3771DC480BEB4620599909C7665F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Service, Other [Member]</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_ManagementServiceOtherMember" xlink:label="loc_clny_ManagementServiceOtherMember_C59D3771DC480BEB4620599909C7665F" xlink:type="locator" />
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    <link:label id="lab_clny_IncomeLossFromContinuingAndDiscontinuedOperationsBeforeIncomeTaxesNoncontrollingInterest_A130F56BBAD8702FC78D9C61F89FAC19_netLabel_en-US" xlink:label="lab_clny_IncomeLossFromContinuingAndDiscontinuedOperationsBeforeIncomeTaxesNoncontrollingInterest_A130F56BBAD8702FC78D9C61F89FAC19" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Income (loss) from continuing and discontinued operations before income taxes</link:label>
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    <link:loc xlink:href="clny-20191231.xsd#clny_IncomeLossFromContinuingAndDiscontinuedOperationsBeforeIncomeTaxesNoncontrollingInterest" xlink:label="loc_clny_IncomeLossFromContinuingAndDiscontinuedOperationsBeforeIncomeTaxesNoncontrollingInterest_A130F56BBAD8702FC78D9C61F89FAC19" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clny_IncomeLossFromContinuingAndDiscontinuedOperationsBeforeIncomeTaxesNoncontrollingInterest_A130F56BBAD8702FC78D9C61F89FAC19" xlink:to="lab_clny_IncomeLossFromContinuingAndDiscontinuedOperationsBeforeIncomeTaxesNoncontrollingInterest_A130F56BBAD8702FC78D9C61F89FAC19" xlink:type="arc" />
    <link:label id="lab_clny_PreTaxIncomeFromPassThroughSubsidiaries_3322EBA31D3B2A994DC39C61F89F7345_terseLabel_en-US" xlink:label="lab_clny_PreTaxIncomeFromPassThroughSubsidiaries_3322EBA31D3B2A994DC39C61F89F7345" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pre-tax income attributable to pass-through subsidiaries</link:label>
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    <link:label id="lab_clny_PreTaxIncomeFromPassThroughSubsidiaries_3322EBA31D3B2A994DC39C61F89F7345_documentation_en-US" xlink:label="lab_clny_PreTaxIncomeFromPassThroughSubsidiaries_3322EBA31D3B2A994DC39C61F89F7345" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Pre-Tax Income From Pass-Through Subsidiaries</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_PreTaxIncomeFromPassThroughSubsidiaries" xlink:label="loc_clny_PreTaxIncomeFromPassThroughSubsidiaries_3322EBA31D3B2A994DC39C61F89F7345" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clny_PreTaxIncomeFromPassThroughSubsidiaries_3322EBA31D3B2A994DC39C61F89F7345" xlink:to="lab_clny_PreTaxIncomeFromPassThroughSubsidiaries_3322EBA31D3B2A994DC39C61F89F7345" xlink:type="arc" />
    <link:label id="lab_clny_PreTaxIncomeFromTaxableSubsidiaries_ED0FD6D23FEC4F5CC96B9C61F89F3B1B_totalLabel_en-US" xlink:label="lab_clny_PreTaxIncomeFromTaxableSubsidiaries_ED0FD6D23FEC4F5CC96B9C61F89F3B1B" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Pre-tax loss attributable to taxable subsidiaries</link:label>
    <link:label id="lab_clny_PreTaxIncomeFromTaxableSubsidiaries_ED0FD6D23FEC4F5CC96B9C61F89F3B1B_label_en-US" xlink:label="lab_clny_PreTaxIncomeFromTaxableSubsidiaries_ED0FD6D23FEC4F5CC96B9C61F89F3B1B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pre-Tax Income From Taxable Subsidiaries</link:label>
    <link:label id="lab_clny_PreTaxIncomeFromTaxableSubsidiaries_ED0FD6D23FEC4F5CC96B9C61F89F3B1B_documentation_en-US" xlink:label="lab_clny_PreTaxIncomeFromTaxableSubsidiaries_ED0FD6D23FEC4F5CC96B9C61F89F3B1B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Pre-Tax Income From Taxable Subsidiaries</link:label>
    <link:loc xlink:href="clny-20191231.xsd#clny_PreTaxIncomeFromTaxableSubsidiaries" xlink:label="loc_clny_PreTaxIncomeFromTaxableSubsidiaries_ED0FD6D23FEC4F5CC96B9C61F89F3B1B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clny_PreTaxIncomeFromTaxableSubsidiaries_ED0FD6D23FEC4F5CC96B9C61F89F3B1B" xlink:to="lab_clny_PreTaxIncomeFromTaxableSubsidiaries_ED0FD6D23FEC4F5CC96B9C61F89F3B1B" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_DC8B5687A3F93B30A6249C61F8A0D50B_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_DC8B5687A3F93B30A6249C61F8A0D50B" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Federal tax benefit at statutory tax rate (35%)</link:label>
    <link:label id="lab_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_DC8B5687A3F93B30A6249C61F8A0D50B_label_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_DC8B5687A3F93B30A6249C61F8A0D50B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:label="loc_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_DC8B5687A3F93B30A6249C61F8A0D50B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_DC8B5687A3F93B30A6249C61F8A0D50B" xlink:to="lab_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_DC8B5687A3F93B30A6249C61F8A0D50B" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_8F2214B590631AEA71C19C61F8A0910D_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_8F2214B590631AEA71C19C61F8A0910D" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">State and local income taxes, net of federal income tax benefit</link:label>
    <link:label id="lab_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_8F2214B590631AEA71C19C61F8A0910D_label_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_8F2214B590631AEA71C19C61F8A0910D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:label="loc_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_8F2214B590631AEA71C19C61F8A0910D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_8F2214B590631AEA71C19C61F8A0910D" xlink:to="lab_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_8F2214B590631AEA71C19C61F8A0910D" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential_EC9A1B734A38720B5EE69C61F8A0631D_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential_EC9A1B734A38720B5EE69C61F8A0631D" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Foreign income tax differential</link:label>
    <link:label id="lab_us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential_EC9A1B734A38720B5EE69C61F8A0631D_label_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential_EC9A1B734A38720B5EE69C61F8A0631D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential" xlink:label="loc_us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential_EC9A1B734A38720B5EE69C61F8A0631D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential_EC9A1B734A38720B5EE69C61F8A0631D" xlink:to="lab_us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential_EC9A1B734A38720B5EE69C61F8A0631D" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses_5B0D944F66AEDA468E0E9C61F8A06A27_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses_5B0D944F66AEDA468E0E9C61F8A06A27" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Nondeductible expenses&#8212;goodwill impairment</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd#us-gaap_IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses" xlink:label="loc_us-gaap_IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses_5B0D944F66AEDA468E0E9C61F8A06A27" xlink:type="locator" />
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    <link:label id="lab_clny_CorporateAircraftUseReimbursementMember_680F28A270FF112B0BC89BFBFD036CBF_terseLabel_en-US" xlink:label="lab_clny_CorporateAircraftUseReimbursementMember_680F28A270FF112B0BC89BFBFD036CBF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Corporate Aircraft Use Reimbursement</link:label>
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    <link:loc xlink:href="clny-20191231.xsd#clny_RelatedPartyTransactionExpectedReimbursableIndirectCostsPercentOfCombinedGeneralAndAdministrativeCosts" xlink:label="loc_clny_RelatedPartyTransactionExpectedReimbursableIndirectCostsPercentOfCombinedGeneralAndAdministrativeCosts_481022CBD88396B9A80E9BFBFD04C8B8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clny_RelatedPartyTransactionExpectedReimbursableIndirectCostsPercentOfCombinedGeneralAndAdministrativeCosts_481022CBD88396B9A80E9BFBFD04C8B8" xlink:to="lab_clny_RelatedPartyTransactionExpectedReimbursableIndirectCostsPercentOfCombinedGeneralAndAdministrativeCosts_481022CBD88396B9A80E9BFBFD04C8B8" xlink:type="arc" />
    <link:label id="lab_clny_RelatedPartyTransactionExpectedReimbursableOrganizationAndOfferingCostsExcludingSellingCommissionsAndDealerManagerFeeAsPercentageOfTotalPrimaryOfferingProceeds_9EF30E9F94FDA3B1F2B89BFBFD056D4F_terseLabel_en-US" xlink:label="lab_clny_RelatedPartyTransactionExpectedReimbursableOrganizationAndOfferingCostsExcludingSellingCommissionsAndDealerManagerFeeAsPercentageOfTotalPrimaryOfferingProceeds_9EF30E9F94FDA3B1F2B89BFBFD056D4F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reimbursement percent for organization and offering costs (percentage)</link:label>
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    <link:label id="lab_clny_RelatedPartyTransactionExpectedReimbursableOrganizationAndOfferingCostsExcludingSellingCommissionsAndDealerManagerFeeAsPercentageOfTotalPrimaryOfferingProceeds_9EF30E9F94FDA3B1F2B89BFBFD056D4F_documentation_en-US" xlink:label="lab_clny_RelatedPartyTransactionExpectedReimbursableOrganizationAndOfferingCostsExcludingSellingCommissionsAndDealerManagerFeeAsPercentageOfTotalPrimaryOfferingProceeds_9EF30E9F94FDA3B1F2B89BFBFD056D4F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the expected reimbursable organization and offering costs, excluding selling commissions and dealer manager fee, as a percentage of total proceeds available to be raised from the primary offering.</link:label>
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    <link:label id="lab_clny_DebtInstrumentTermExtensionOption_C51DBD596C067ABCF3519BFBFD05D5ED_terseLabel_en-US" xlink:label="lab_clny_DebtInstrumentTermExtensionOption_C51DBD596C067ABCF3519BFBFD05D5ED" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extension option, term</link:label>
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    <link:label id="lab_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_1F5C8A1CFD417F2E9D979BFBFD05BC3F_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_1F5C8A1CFD417F2E9D979BFBFD05BC3F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outstanding advances</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromSaleOfEquityMethodInvestments_8709AB65683958B728969BFBFD054482_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfEquityMethodInvestments_8709AB65683958B728969BFBFD054482" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sale of equity method investments</link:label>
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    <link:label id="lab_clny_IncentiveFeePercentage_9DB8E13F29CB8563D3779BFBFD0629D4_terseLabel_en-US" xlink:label="lab_clny_IncentiveFeePercentage_9DB8E13F29CB8563D3779BFBFD0629D4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Incentive fee (percentage)</link:label>
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