Harness the Benefits of Real Estate Debt

NorthStar Real Estate Capital Income Master Fund (NorthStar Capital) offers retail investors access to an institutionally managed portfolio of commercial real estate (CRE) debt, CRE securities and CRE equity that may provide a source of attractive income through cash distributions1 in today’s low-yield environment.

 

InvestmentObjectives

Institutional Expertise


NorthStar Capital is advised by an affiliate3 of Colony NorthStar, Inc. (Colony NorthStar; NYSE: CLNS). Colony NorthStar is a leading global real estate and investment management firm with approximately $57 billion4 in assets under management. Colony NorthStar strategically manages real estate and other investment platforms in the United States and internationally and was one of the first institutional managers to offer non-traded retail products to individual investors. Colony NorthStar provides retail clients with access to a diverse range of institutional-quality alternative investment programs designed to meet a variety of investor objectives.



*There is no assurance we will achieve any of our investment objectives. 1) There is no guarantee of distributions. Distributions may be paid from sources other than cash flow from operations, such as offering proceeds, borrowings or sales of assets, which may reduce an investor’s overall return and may constitute a return of capital. Investors in Fund-T shares will be subject to a distribution and servicing fee at an annualized rate of 1.0% of the NAV per share. Because 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 Investment Risks for additional information. 2) While CRE debt investments may provide greater downside protection than CRE equity investments, NorthStar Capital’s investments vary in degree of risk depending on their place in the capital structure and may decrease in value, lose value or fluctuate. 3) The fund will be advised by CNI RECF Advisors, LLC (Advisor). 4) Represents balance sheet and third-party AUM as of September 30, 2017. Third party AUM represents capital invested alongside balance sheet, but excludes private equity and retail company interests, which are included in Investment Management AUM. The performance of Colony NorthStar is not indicative of the performance of NorthStar Capital or the Funds. Colony NorthStar and NorthStar Capital are separate companies. An investor purchasing shares in the Funds of NorthStar Capital’s public offering is making an indirect investment in NorthStar Capital, not in Colony NorthStar.

 

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 Capital 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.

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 material 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 clicking the link above 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.

An investment in a 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. The following are some of the risks involved in an investment in a Fund: (i) only a limited number of each Fund’s shares may be eligible for repurchase under a Fund’s share repurchase program, and the share repurchase program may be terminated at any time. As such, you will have limited to no access to the money you invest for an indefinite period of time; (ii) no guarantee of distributions, and it is expected that some of the Funds’ distributions, if any, may be paid from the proceeds from the offerings. Additionally, for Fund-T investors, a distribution and servicing fee is paid out of Fund-T’s assets on a monthly basis, increasing the cost of an investment in Fund-T over time; (iii) as shares are not listed on an exchange and it is not anticipated that a secondary market will develop, investors will have limited liquidity and may not receive a full return of their invested capital if they sell their shares; (iv) the Funds are recently organized companies and have limited operating history; (v) investors will incur immediate dilution as a result of any selling commissions and dealer manager fees paid by an investor and offering expenses the Funds will incur; (vi) no guarantee that the investment objectives of the Funds will be attained; (vii) payment of fees and expenses will reduce the cash available for investment, the net income generated, the cash available for distribution and the book value of the shares; (viii) financial risks associated with real estate investments, including the inability to dispose of certain assets at a fair price; and (ix) NorthStar Capital may make investments in below investment grade securities, which are speculative and may be illiquid and difficult to value.

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.

Learn about the risks associated with investing in NorthStar Capital.

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