NEW YORK, NY (November 10, 2016) – NorthStar Real Estate Income Trust, Inc. (NorthStar Income) announced that it participated in a $284.2 million non-recourse, match-term, non-mark-to-market financing transaction in the form of a commercial mortgage-backed securitization, NorthStar 2016-1. The transaction is collateralized by a pool of 10 commercial real estate mortgage loans, all but one of which was directly originated by NorthStar Real Estate Income II, Inc. (NorthStar Income II) and three senior participations originated by NorthStar Income. NorthStar Income contributed approximately $29.5 million of senior participations providing permanent financing for its assets, and will retain the junior participations of approximately $15.0 million. NorthStar Income II contributed the remaining $254.7 million of collateral. Net proceeds from the transaction will be used by NorthStar Income to, among other things, repay one of its credit facilities, which will generally create new availability under the facility to finance and enhance the returns of future mortgage loan investments. The transaction closed on November 9, 2016.
NEW YORK, NY (August 16, 2013) NorthStar Real Estate Income Trust, Inc. (“NorthStar Income”) announced today the pricing of a $531.5 million non-recourse, floating-rate CMBS financing transaction, NorthStar 2013-1, at a weighted average coupon of LIBOR + 2.68%. The transaction will initially be collateralized by commercial real estate first mortgages and senior participations originated by NorthStar Income and its sponsor, NorthStar Realty Finance Corp (the “Sponsor”). NorthStar Income will contribute $346.1 million of collateral to the transaction and will have the flexibility to contribute up to $106.3 million of additional collateral within six months of closing. The Sponsor will contribute the remaining $79.1 million of collateral. The transaction is expected to close by the end of August.
NEW YORK, NY - July 1, 2013 - NorthStar Real Estate Income Trust, Inc. (“NorthStar Income”) announced today that it successfully completed its primary offering period having raised $1.1 billion in aggregate gross offering proceeds, including over $528 million of capital raised year to date, through its dealer manager, NorthStar Realty Securities, LLC.
New York, NY (May 1, 2013) – NorthStar Real Estate Income Trust, Inc. (NorthStar Income) and NorthStar Realty Finance Corp. (the Sponsor) directly originated a $255 million participating senior loan secured by a leasehold mortgage in the recently renovated 1,331 room Milford Plaza hotel located at the epicenter of Times Square, New York City. NorthStar Income originated $89 million of the loan and the Sponsor originated the remaining $166 million of the loan on a pari passu basis. The $255 million loan was financed with $130 million from credit facilities with Deutsche Bank AG, pro-rata between NorthStar Income and the Sponsor.