We remain disciplined in managing our balance sheet and continue to maintain a healthy liquidity position, especially relative to our near-term corporate debt maturity. For the last several quarters, we’ve highlighted that given the significant volume of commercial real estate loans maturing over the next several years and the limited liquidity available to commercial real estate owners relative to historic norm, there is a compelling investment environment for lenders to have access to capital and an established commercial real estate loan origination platform with a strong track recordTowards this end, since the beginning of 2012, we have directly originated 18 loans with a principle balance of $451 million including $265 million on behalf of our non-traded REIT, NorthStar Real Estate Income Trust or NorthStar Income. Originations year-to-date were primarily first mortgages and the loans originated for NRF balance sheet are expected to generate a 17% return on invested equity.
NorthStar Realty Finance's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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