NorthStar Realty Finance Announces $100 Million Credit Facility
NEW YORK, Nov. 28, 2011 /PRNewswire/ -- NorthStar Realty Finance Corp. (NYSE: NRF) announced today that it has entered into a new $100 million credit facility with Wells Fargo Bank, N.A. The credit facility will be used to finance commercial real estate debt investments and has an initial term of two years with two one-year extension options at NorthStar's election.
David Hamamoto, chairman and chief executive officer, commented, "This new credit facility further demonstrates the strength and sophistication of our commercial real estate platform and our continued ability to access attractive capital. With this new facility, we are well positioned to take advantage of opportunities we see in the market and build on the positive momentum we are experiencing."
Mr. Hamamoto continued, "In addition, we are in the process of obtaining a $100 million credit facility for our real estate debt-oriented non-listed REIT, NorthStar Real Estate Income Trust, which demonstrates our strong presence and differentiation in that sector, and will allow us to continue to build our asset management business."
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 www.nrfc.com.
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 or that it will be able to exercise its options to extend the credit facility, that it will be able to continue to access attractive capital, that it will be able to take advantage of the opportunities it sees in the market, that it will be able to build on its positive momentum, that it will be able to continue to build its asset management business, that NorthStar Real Estate Income Trust will be able to obtain a credit facility on favorable terms, if at all or the size of the credit facility. 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, as amended, for the year ended December 31, 2010. 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.
SOURCE NorthStar Realty Finance Corp.
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