NorthStar REIT Recently Closes Five Loans Totaling $69 Million
NEW YORK CITY—NorthStar Real Estate Income Trust Inc. is pleased to announce the direct origination of five new real estate loans totaling $69.0 million, with a weighted average current interest rate of 9.15%. The proceeds from the loans, which are summarized below, were used to finance a variety of different real estate properties, further diversifying NorthStar REIT's portfolio.
*January 18, 2012: $13.5 million first mortgage senior loan secured by a 693-unit multifamily property in Jacksonville, Fla.
*January 6, 2012: $12.0 million first mortgage senior loan secured by a 69-room hotel located in Miami Beach, Fla.
*December 29, 2011: $9.2 million first mortgage senior loan secured by a 111-room hotel located in Panama City, Fla.
*December 16, 2011: $29.8 million in four cross-collateralized, cross-defaulted first mortgage loans secured by four hotel properties containing 500 rooms located in Va.
*December 9, 2011: $4.5 million mezzanine loan secured by a pledge of ownership interests in four assisted living facilities containing 390 beds located in El Paso, Texas.
Together with these five loans, NorthStar REIT has invested over $132.7 million of capital in eight loans and three Commercial Mortgage Backed Securities. The portfolio has an overall current yield of approximately 8.9%.
Acceptable Use Policy blog comments powered by Disqus
Want to use this article? Click here for options!
© 2012 Penton Media Inc.
advertisement
Photo Galleries
Hudson Yards Development
Check out images for Coach's new global headquarters, which will anchor the initial tower of the Eastern Rail Yards site within the 26-acre mixed-use Hudson Yards Development on Manhattan's far West Side.
Outstanding Women in Commercial Real Estate
From housing low-income families in Southern California to closing some of Manhattan's largest office leases, women leaders are using commercial real estate as a platform to reshape communities while they drive investor returns.
Click here to view more photo galleries.
Videos
NREI TV at the MBA CREF 2012 Conference
Check out these videos of NREI Editorial Director David Bodamer speaking with industry experts from Atlanta.
Click here to view more videos.
This Week's Most Popular
Current Issue
|
|
advertisement
Blogs
|
Traffic Court |
|
BlackSwan |







