NorthStar REIT Fundraising Reaches $100 Million
NEW YORK, Oct. 27, 2011 /PRNewswire/ -- NRF Capital Markets, LLC , the dealer-manager for NorthStar Real Estate Income Trust Inc. (NorthStar REIT), is pleased to announce that NorthStar REIT has achieved an important benchmark in raising $100 million in capital from inception through October 2011. In making the announcement, Tim Toole, president of NRF Capital Markets, said, "We're gratified that many of the major independent broker-dealers have added NorthStar REIT to their alternative investment platforms. In today's volatile markets, an investment offering with the potential to improve portfolio stability and pay attractive and consistent dividends is very appealing."
NorthStar REIT is a real estate investment trust ("REIT") which invests in and manages a portfolio of commercial real estate loans, commercial real estate-related debt securities and select commercial real estate equity investments. Its objective is to deliver an attractive and stable stream of income while preserving and protecting investors' principal. Daniel Gilbert, president and chief investment officer of NorthStar REIT, commented, "NorthStar REIT has gained tremendous momentum this year. I expect fundraising will accelerate in 2012 as we continue to execute effectively on our investment strategy. The economic environment should favor commercial real estate debt investing for the foreseeable future."
About NorthStar Real Estate Income Trust
NorthStar REIT is a REIT formed to originate, invest in, and manage a diversified portfolio of commercial real estate debt, commercial real estate debt-related securities and select commercial real estate equity investments. The portfolio will be diversified across a variety of underlying commercial property types and geographic locations. It will be secured primarily by U.S.-based collateral. For more information, visit www.northstarreit.com.
NorthStar Realty Finance Corp., the sponsor of NorthStar REIT, is a publicly-traded commercial finance REIT that originates, acquires and manages portfolios of commercial real estate debt, commercial real estate securities and net lease properties. In addition, NorthStar Realty Finance Corp. engages in asset management and other activities related to real estate and finance. NorthStar Realty Finance Corp. has established an impressive track record for managing commercial real estate investments. As of June 30, 2011, the company had over $7.3 billion in assets under management.
For more information, visit www.nrfc.com.
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 "anticipate," "believe," "plan," "hope," "goal," "expect," "future," "intend," "will," "could" and "should," and similar expressions. These statements are based on NorthStar REIT'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 REIT 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 REIT's expectations include, but are not limited to, NorthStar REIT's ability to continue to execute its investment strategy and grow its portfolio at the anticipated rate, NorthStar REIT's ability to continue to accelerate fundraising, future value, income-producing ability, impact of any losses on cash flows and returns, market rental rates and property level cash flows, changes in economic conditions generally and the real estate and debt markets specifically, 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 REIT's Annual Report on Form 10-K for the year ended December 31, 2010 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 REIT 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.
THIS IS NEITHER AN OFFER TO SELL NOR AN OFFER TO BUY ANY SECURITIES DESCRIBED HEREIN. OFFERINGS ARE MADE ONLY BY MEANS OF A PROSPECTUS.
SOURCE NorthStar Real Estate Income Trust
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