NEW YORK, Feb. 29, 2012 /PRNewswire/ -- NorthStar Realty Finance Corp. (NYSE: NRF) announced today that its sponsored non-listed commercial real estate debt oriented REIT, NorthStar Real Estate Income Trust, Inc. ("NSREIT"), has entered into a new $100 million credit facility with Wells Fargo Bank, N.A. The credit facility will be used by NSREIT to finance a variety of senior commercial real estate debt investments. The facility has an initial term of two years, with two one-year extension options at NSREIT's election.
David Hamamoto, chairman and chief executive officer of NorthStar Realty Finance Corp., commented, "Obtaining this new credit facility for NSREIT demonstrates NorthStar's strength as a sponsor in the non-listed REIT space. This new facility will position us, as NSREIT's advisor, to accelerate NSREIT's origination and investment pace consistent with NSREIT's business plan."
About NorthStar Realty Finance Corp.
NorthStar Realty Finance Corp. is a finance REIT that originates, acquires and manages portfolios of commercial real estate debt, commercial real estate securities and net lease properties. In addition, NorthStar engages in asset management and other activities related to real estate and real estate finance. For more information about NorthStar Realty Finance Corp., please visit