NorthStar Income II secures USD100m credit facility with Deutsche Bank
NorthStar Real Estate Income II has entered into a USD100 million credit facility with Deutsche Bank.
NorthStar Income II will use the credit facility to finance first mortgage loans and senior loan participations secured by commercial real estate.
This transaction brings NorthStar Income II's total credit facility capacity to USD200 million, including its existing facility with Citibank.
"This facility represents a core component of our business strategy and highlights the importance of our sponsor's established relationships with institutional financing partners," says Daniel R Gilbert, chief executive officer and president of NorthStar Income II. "As we continue to drive investment activity, this credit facility will provide efficient financing to selectively lever our debt investments and further diversify the NorthStar Income II portfolio."
NorthStar Income II's portfolio consists of four senior mortgage loans with a combined principal amount of USD157.2 million as of 16 July 2014.
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