NorthStar Realty Finance Announces Completion of $1.1 Billion Offering for its First Sponsored Non-Traded REIT

NorthStar Realty Finance Announces Completion of $1.1 Billion Offering for its
                       First Sponsored Non-Traded REIT

PR Newswire

NEW YORK, July 1, 2013

NEW YORK, July 1, 2013 /PRNewswire/ --NorthStar Realty Finance Corp. (NYSE:
NRF) announced today that NorthStar Real Estate Income Trust, Inc. ("NorthStar
Income") successfully completed its primary offering having raised $1.1
billion in aggregate gross offering proceeds, including $528 million
year-to-date, through its captive broker-dealer, NorthStar Realty Securities,
LLC.

David T. Hamamoto, chairman and chief executive officer, commented, "We are
extremely pleased with the successful completion of our first sponsored
non-traded REIT and are looking forward to capitalizing on this strong
momentum with our $2.75 billion of additional non-traded products currently
being offered. These programs are expected to generate substantial long-term
fee income for our shareholders and the completion of NorthStar Income is a
strong testament to the growth of our asset management business and our
diverse and broad commercial real estate platform."

About NorthStar Realty Finance Corp.

NorthStar Realty Finance Corp. is a diversified commercial real estate
investment and asset management company that is organized as an internally
managed REIT. For more information, visit www.nrfc.com.

Safe Harbor Statement

This press release contains certain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995, Section27A
of the Securities Act of 1933, as amended, or Securities Act, and Section21E
of the Securities Exchange Act of 1934, as amended, or Exchange Act.
Forward-looking statements are generally identifiable by use of
forward-looking terminology such as "potential," "expect," "could," "future,"
"look forward," or other similar words or expressions. Forward-looking
statements are not guarantees of performance and are based on certain
assumptions, discuss future expectations, describe plans and strategies,
contain projections of results of operations or of financial condition or
state other forward-looking information. Such statements include, but are not
limited to, our ability to earn substantial long-term fee income for our
shareholders; our ability to grow our asset management business by raising
capital for, and effectively implementing the business plans of, the companies
we sponsor and advise in particular our sponsored companies; including our
ability to introduce new products and vehicles; effect of regulatory actions,
litigation and contractual claims against us and our affiliates, including the
potential settlement and litigation of such claims; competition for investment
opportunities; regulatory requirements with respect to our business and the
related cost of compliance; the impact of any conflicts arising from our asset
management business; changes in laws or regulations governing various aspects
of our business; the loss of our exemption from the definition of "investment
company" under the Investment Company Act of 1940, as amended; failure to
maintain effective internal controls; compliance with the rules governing real
estate investment trusts; and the factors described in Item1A. of our Annual
Report on Form10-K for the fiscal year ended December 31, 2012 under the
heading "Risk Factors."

The foregoing list of factors is not exhaustive. All forward-looking
statements included in this press release are based upon information available
to us on the date hereof and we are under no duty to update any of the
forward-looking statements after the date of this report to conform these
statements to actual results.

Factors that could have a material adverse effect on our operations and future
prospects are set forth in "Risk Factors" in our Annual Report on Form10-K
for the fiscal year ended December 31, 2012. The factors set forth in the Risk
Factors section and otherwise described in our filings with United States
Securities and Exchange Commission, could cause our actual results to differ
significantly from those contained in any forward-looking statement contained
in this press release.

SOURCE NorthStar Realty Finance Corp.

Website: http://www.nrfc.com
Contact: Investor Relations, Joe Calabrese, (212) 827-3772