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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
Safe Harbor Statement
Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management'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 can give no assurance that its expectations, which are speculative in nature, will be attained, that NSREIT will be able to exercise its options to extend the credit facility or that NorthStar will be able to accelerate NSREIT's origination and investment pace and continue to build its asset management business. Factors that could cause actual results to differ materially from those in the forward-looking statements are specified in the Company's Annual Report on Form 10-K, for the year ended
December 31, 2011. Such forward-looking statements speak only as of the date of this press release. NorthStar 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.