Investment Approach

Investment
Approach

Offering Details

 

Class A Shares

Class D Shares

Class I Shares

Fund-T

 

Ticker Symbol

XNAFX

XNDFX

XNIFX

XNTFX

Minimum Investment

$4,000

$4,000

$100,000

$4,000

 

Offering Price Per Share1
(POP as of 3/27/17)

$9.88

$9.28

$9.09

$9.47

 

Distribution Reinvestment Plan (DRP) Share Price
(DRP as of 3/27/17)

 

$9.00

$9.00

$9.00

$9.00

 

Anticipated Distribution Schedule2

Monthly

 

Share Repurchase Program3

A maximum of 5% of outstanding shares once each quarter at NAV (20% annually), subject to additional limits

 
 

 

Share Classes Available for NorthStar Capital Income Fund

Share Class Available for NorthStar Capital Income Fund-T


NorthStar Capital is a master fund in a master/feeder structure, which pools investor capital raised through its feeder funds. There are currently two feeder funds: NorthStar Real Estate Capital Income Fund and NorthStar Real Estate Capital Income Fund-T, which in combination offer four share classes. The public offering price of the shares are subject to sales load and operating expenses. Sales load includes selling commissions and dealer manager fees. Operating expenses include organization and offering expenses. The actual maximum sales load will be calculated using a percentage of the offering price equal to: (i) selling commissions of 6.0% and dealer manager fees of 2.0% for the purchase of Class A Shares, which are also subject to organization and offering expenses of 0.92% of the Fund’s public offering price per share; (ii) dealer manager fees of 2.0%, but no selling commissions, for the purchase of Class D Shares, which are also subject to organization and offering expenses of 0.98% of the Fund’s public offering price per share; (iii) no selling commissions or dealer manager fees for the purchase of Class I Shares, which are subject to organization and offering expenses of 1.0% of the Fund’s public offering price per share; and (iv) selling commissions of 2.0% and dealer manager fees of 2.0% for the purchase of Fund-T Shares, which are also subject to organization and offering expenses of 0.96% of the Fund’s public offering price per share and beginning the first month after the completion of the Fund-T offering, shares will be subject to a distribution and servicing fee at an annualized rate of 1.0% of the net asset value (NAV) per share in order to compensate the dealer manager and participating broker-dealers and investment representatives for services and expenses related to the marketing, sale and distribution of Fund-T and since the distribution and servicing fee is paid out of Fund-T assets on a monthly basis, over time these fees will increase the cost of an investment in Fund-T. Please refer to the “Summary of Fees and Expenses” in the applicable Fund’s prospectus for more information on the fees and expenses associated with an investment in each of the Funds. 

1) The offering price will fluctuate because shares are sold at a price equal to the NAV per share plus selling commissions, dealer manager fees and organization and offering expenses, based on the applicable share class. 2) There is no guarantee of distributions. Distributions may be paid from sources other than cash flow from operations, including offering proceeds, borrowings or sales of assets, which may reduce an investor’s overall return and may constitute a return of capital. 3) Each of NorthStar Real Estate Capital Income Fund and NorthStar Real Estate Capital Income Fund-T (each a “Fund” and together the “Funds”) will limit the number of shares to be repurchased in any calendar quarter to 5.0% of the weighted average number of shares outstanding in the previous full calendar quarter prior to the date upon which the notification to repurchase shares was provided to shareholders of the Fund. In addition, beginning with its second calendar year of operations, each of the Funds will limit the number of shares to be repurchased in any calendar year to 20.0% of the weighted average number of shares outstanding in the prior calendar year. Additionally, each of the Funds currently intends to further limit the number of shares to be repurchased on each date of repurchase to the number of shares the Fund can repurchase with, in the Fund’s Board of Trustee’s (the “Board”) sole discretion, (i) the aggregate proceeds it has received from the issuance of shares pursuant to its DRP for the previous calendar quarter, and/or (ii) the aggregate proceeds it has received from the sale of shares, other than such shares issued pursuant to its DRP, for the previous calendar month, immediately prior to the date upon which the notification to repurchase shares was provided to shareholders of the Fund. The Board may, in its sole discretion, determine to limit the number of shares to be repurchased to an amount that is greater than or less than the amounts described above. Each Fund intends to offer to repurchase shares at a price equal to the NAV per share on each date of repurchase.

 

NorthStar Real Estate Capital Income Master Fund (NorthStar Capital) is a master fund in a master/feeder structure, which pools investor capital raised through its feeder funds, NorthStar Real Estate Capital Income Fund and NorthStar Real Estate Income Fund-T (each a Fund and together the Funds). Each Fund invests substantially all of its assets in NorthStar Capital. Investors in a Fund are purchasing shares of a feeder fund, not NorthStar Capital. The investment results of each of the Funds are directly dependent on the investment results of NorthStar Capital, which seeks to execute the investment strategies described in each Fund’s prospectus. An investment in either Fund involves a high degree of risk and may be considered speculative as well as illiquid and a prospective investor should invest only if they can sustain a complete loss of their investment. Fund shares are not listed on any securities exchange and it is not anticipated that a secondary market will develop. NorthStar Capital and the Funds are recently organized companies and have limited operating history.

This website is neither an offer to sell nor a solicitation of an offer to buy securities. An offering is made only by the applicable Fund prospectus. This website must be read in conjunction with the applicable Fund’s prospectus in order to fully understand all of the implications and risks of the offering of securities to which the prospectus relates. Before investing, investors are advised to carefully read and consider the investment objectives, risks, charges and expenses of NorthStar Capital and the Fund in which they are considering an investment. Each Fund’s prospectus contains this and other information about the Fund. Investors may obtain a copy of a Fund’s prospectus by visiting www.NorthStarSecurities.com/CREfund or by calling 877.940.8777. No offering is made except pursuant to a registration statement declared effective by the U.S. Securities and Exchange Commission (the SEC). Neither the SEC nor any state securities regulator has approved or disapproved of the Funds’ common shares, determined if a prospectus is truthful or complete or passed on or endorsed the merits of the Funds’ offerings. Any representation to the contrary is a criminal offense. NorthStar Securities, LLC is the exclusive wholesale marketing agent for NorthStar Capital. NorthStar Securities, LLC is the exclusive wholesale marketing agent for the Funds. ALPS Distributors, Inc., member FINRA, is the distributor of the Funds. NorthStar Securities, LLC and ALPS Distributors, Inc. are not affiliated. NorthStar Securities, LLC is doing business as NorthStar BD Securities, LLC (DE) in the following states: FL, GA, TX and WA.

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