NorthStar Income II Completes $1.0 Billion in Investments

NEW YORK, July 28, 2015 /PRNewswire/ -- NorthStar Real Estate Income II, Inc. (NorthStar Income II) announced today that its investment portfolio has reached over $1.0 billion in total assets, consisting of 14 commercial real estate debt investments with combined principal commitments of $671.0 million, an industrial portfolio with a total cost of approximately $335.0 million and a portfolio of real estate private equity fund interests with a carrying value of $38.4 million.

"With over $450 million of new investments closed in the second quarter, NorthStar Income II continues to demonstrate our ability to leverage our sponsor's extensive industry relationships and execute on high quality investments throughout the real estate capital structure," said Daniel R. Gilbert, chief executive officer and president. "We have gained significant momentum in 2015 as we build our portfolio and remain committed to deploying capital in a disciplined manner consistent with our business plan."

Emery Bay at Lakepointe | Lewisville, TX

• $39.2 million senior loan secured by a 360-unit apartment community located in Lewisville, Texas.
• The borrower is an experienced regional owner and operator of multifamily properties and currently manages approximately 18,000 multifamily units across more than 70 properties, including 14 assets in the Dallas-Fort Worth metro area.

Office Building | Lake Success, NY

• $45.0 million senior loan secured by a 348,000 square foot Class-A office building located in Lake Success, New York, approximately 15 miles from New York City.
• The borrower is a joint venture between two regional owners and operators of commercial real estate with a combined 5.7 million square feet of property currently owned or under management. 

Hampton Inn & Suites | Gainesville, FL

• $21.2 million senior loan secured by a Hilton branded select-service hotel located in Gainesville, Florida.
• The borrower is an affiliate of a publicly traded hospitality REIT with approximately $4.8 billion of assets under management across 85 hotels located in 21 states.

Office Building | San Diego, CA

• $18.0 million senior loan secured by an 82,000 square foot, 100% leased office complex located in San Diego, California.
• The borrower is a joint venture between an institutional fund manager with $4.7 billion in assets under management and a seasoned commercial real estate operator with extensive experience managing similar properties.

Industrial Portfolio | Various Locations

• $335.0 million industrial portfolio acquisition
• Portfolio contains 6.7 million square feet across 22 industrial properties located in seven states
• Portfolio is approximately 99% leased to 28 tenants and is managed by a national operator of industrial real estate properties with over 85 million square feet of industrial real estate assets under management.

About NorthStar Real Estate Income II, Inc.
NorthStar Income II is a public, non-traded REIT sponsored by NorthStar Asset Management Group Inc. NorthStar Income II was formed to originate, acquire and asset manage a diversified portfolio of commercial real estate debt, select equity and securities investments.

This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "will," "may," "plans," "intends" or other similar words or expressions. These statements are based on NorthStar Income II'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 II 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 II's expectations include, but are not limited to, NorthStar Income II's ability to diversify and grow its portfolio, NorthStar Income II's ability to leverage its sponsor's extensive industry relationships and ability to underwrite and execute on high quality investments throughout the capital stack, NorthStar Income II's ability to deploy capital in a disciplined manner consistent with its business plan, the ability of the borrowers to effectively manage the properties securing NorthStar Income II's loan investments, the borrowers' ability to comply with the terms, including financial and other covenants, of the respective loan agreements, whether the borrowers determine to extend the loans, changes in market rates for commercial properties, future property values, the impact of any losses from NorthStar Income II's investments on cash flow and returns, property level cash flow, changes in economic conditions generally and the real estate and debt markets specifically, availability of capital, the ability to achieve targeted returns, changes to generally accepted accounting principles, policies and rules applicable to REITs and the factors specified in in Part I, Item 1A of NorthStar Income II's Annual Report on Form 10-K for the fiscal year ended December 31, 2014, as well as in NorthStar Income II's other filings with the Securities and Exchange Commission. The foregoing list of factors is not exhaustive. All forward-looking statements included in this press release are based upon information available to NorthStar Income II on the date of this report and NorthStar Income II is under no duty to update any of the forward-looking statements after the date of this report to conform these statements to actual results.

SOURCE NorthStar Real Estate Income II, Inc.

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