NorthStar Real Estate Income Trust has entered into a new USD200 million credit facility with Deutsche Bank AG, Cayman Islands Branch. The credit facility will be used to finance commercial real estate debt investments and has a term of five years, inclusive of extension options.
The closing of this new credit facility brings the company’s total capacity under all its credit facilities to USD440 million.
Daniel Gilbert, chief executive officer of NorthStar Income, says: "This additional credit facility demonstrates our sponsor's strong relationships with large institutions such as Deutsche Bank and highlights our ability to access attractive and diversified sources of capital to selectively lever our debt investments. This new credit facility further enhances our ability to diversify our equity capital while continuing to build a portfolio of complimentary investments that are consistent with our business plan and accretive to our distribution."