NorthStar REIT Announces $100 Million Credit Facility

NEW YORK, Feb. 29, 2012 /PRNewswire/ -- NorthStar Real Estate Income Trust, Inc. (NorthStar REIT) announced today that it has entered into a $100 million credit facility with Wells Fargo Bank, N.A. (Wells Fargo).  The credit facility will be used by NorthStar REIT 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 NorthStar REIT's election.

Daniel Gilbert, president and chief investment officer, commented, "Obtaining this credit facility from Wells Fargo, one of the largest and most successful financial institutions, further establishes NorthStar REIT and its sponsor as best in class and leaders in the industry."  Mr. Gilbert continued, "The credit facility, combined with our origination platform augments our ability to execute on our attractive pipeline of loan originations and therefore allows us to take advantage of the favorable opportunities we are seeing on behalf of our investors."

To date, NorthStar REIT has invested over $130 million of capital in eight loans and three commercial mortgage-backed securities. 

About NorthStar Real Estate Income Trust, Inc.

NorthStar REIT is a real estate investment trust formed to originate, invest in, and manage a diversified portfolio of commercial real estate debt, commercial real estate debt-related securities and select commercial real estate equity investments. 

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, which can be identified by words like "seek," "believe," "will," and similar expressions.  These statements are based on NorthStar REIT'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 REIT 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 REIT's expectations include, but are not limited to, NorthStar REIT's ability to continue to execute its investment strategy and grow its portfolio of performing commercial real estate debt investments at the anticipated rate, whether NorthStar REIT's commercial real estate debt investments will provide investors with consistent income while diversifying their portfolio, whether current yields will continue in the future, whether NorthStar REIT will be able to execute on its pipeline of loan originations and take advantage of opportunities in the market, future value, income-producing ability, impact of any losses on cash flows and returns, market rental rates and property level cash flows, changes in economic conditions generally and the real estate and debt markets specifically, impact of local economics, availability of investment opportunities, availability of capital, ability to achieve targeted returns, generally accepted accounting principles and policies and rules applicable to REITs.  Factors that could cause actual results to differ materially from those in the forward-looking statements are specified in NorthStar REIT's Annual Report on Form 10-K for the year ended December 31, 2010 and its other filings with the Securities and Exchange Commission.  Such forward-looking statements speak only as of the date of this press release.  NorthStar REIT 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.

THIS IS NEITHER AN OFFER TO SELL NOR AN OFFER TO BUY ANY SECURITIES DESCRIBED HEREIN. OFFERINGS ARE MADE ONLY BY MEANS OF A PROSPECTUS.

SOURCE NorthStar Real Estate Income Trust, Inc.