NorthStar Real Estate Income Trust Announces New $200 Million Credit Facility

NEW YORK, March 12, 2013 /PRNewswire/ -- NorthStar Real Estate Income Trust, Inc. ("NorthStar Income") announced today that it has entered into a new $200 million credit facility with Deutsche Bank AG, Cayman Islands Branch ("Deutsche Bank").  The credit facility will be used to finance commercial real estate debt investments and has a term of five years, inclusive of extension options. The closing of this new credit facility brings our total capacity under all our credit facilities to $440 million.

Daniel Gilbert, chief executive officer of NorthStar Income remarked, "This additional credit facility demonstrates our sponsor's strong relationships with large institutions such as Deutsche Bank and highlights our ability to access attractive and diversified sources of capital to selectively lever our debt investments.  This new credit facility further enhances our ability to diversify our equity capital while continuing to build a portfolio of complimentary investments that are consistent with our business plan and accretive to our distribution." 

About NorthStar Real Estate Income Trust, Inc. (NorthStar Income) 
NorthStar Income is a REIT formed to originate, invest in, and manage a diversified portfolio of commercial real estate debt, commercial real estate securities and select commercial real estate equity investments.  The portfolio will be diversified across a variety of underlying commercial property types and geographic locations and is secured primarily by U.S.-based collateral.  For more information, visit www.northstarreit.com/income.

Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words like "seek," "believe," "will," and similar expressions.  These statements are based on NorthStar Income's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward looking statements; NorthStar Income can give no assurance that its expectations will be attained.  Forward-looking statements are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying any forward-looking statements will not materialize or will vary significantly from actual results.  Variations of assumptions and results may be material.  Factors that could cause actual results to differ materially from NorthStar Income's expectations include, but are not limited to, whether NorthStar Income will be able to satisfy the conditions required to extend the maturity of the credit facility, whether NorthStar Income and its operating partnership will be able to satisfy the covenants contained in the credit facility and related agreements, whether NorthStar Income will be able to meet the conditions to financing with respect to any particular asset, whether and to what extent NorthStar Income will be able to diversify its equity capital while continuing to build a portfolio of complimentary investments that are consistent with its business plan and accretive to its distribution, whether current and expected yields and returns will continue in the future, whether NorthStar Income will be able generate accretive yields for its stockholders, impact of any losses on cash flows and returns, market rental rates and property level cash flows, borrower's ability to renew existing leases on favorable terms, if at all, changes in economic conditions generally and the real estate and debt markets specifically, impact of local economics, availability of investment opportunities, availability of capital, ability to achieve targeted returns, generally accepted accounting principles and policies and rules applicable to REITs.  Factors that could cause actual results to differ materially from those in the forward-looking statements are specified in NorthStar Income's Annual Report on Form 10-K for the year ended December 31, 2012 and its other filings with the Securities and Exchange Commission.  Such forward-looking statements speak only as of the date of this press release.  NorthStar Income expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

 

SOURCE NorthStar Real Estate Income Trust, Inc.



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http://www.northstarreit.com

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