NorthStar Real Estate Income Trust Announces Closing of its $1.1 Billion Offering

   NorthStar Real Estate Income Trust Announces Closing of its $1.1 Billion

PR Newswire

NEW YORK, July 1, 2013

NEW YORK, July 1, 2013 /PRNewswire/ --NorthStar Real Estate Income Trust,
Inc. ("NorthStar Income") announced today that it successfully completed its
primary offering period having raised $1.1 billion in aggregate gross offering
proceeds, including over $528 million of capital raised year to date, through
its dealer manager, NorthStar Realty Securities, LLC.

As of June 30, 2013, NorthStar Income's portfolio consists of over $1.2
billion in principal commitments of predominantly directly originated
commercial real estate debt investments, which as of the same date produced an
overall weighted average leveraged expected current yield on invested equity
of approximately 13.3%.

Daniel R. Gilbert, chief executive officer and president, commented "We are
extremely pleased with the successful completion of our primary offering and
investor support for this initial NorthStar-sponsored product. We are
especially pleased to be the market's first widely accepted non-traded REIT
focused mainly on commercial real estate debt and with the market's
recognition of the benefits derived from our affiliation with our sponsor
NorthStar Realty Finance Corp. We are well positioned to continue to execute
our business plan and look forward to continuing to drive value for our

About NorthStar Real Estate Income Trust, Inc. (NorthStar Income)

NorthStar Income is a REIT formed to originate, invest in, and manage a
diversified portfolio of commercial real estate debt, securities and select
equity investments. The portfolio is diversified across a variety of
underlying commercial property types and geographic locations and is secured
primarily by U.S.-based collateral. For more information, visit

The overall weighted average leveraged expected current yield of approximately
13.3% does not reflect the fees and expenses of NorthStar Income and does not
represent the distribution rate paid by NorthStar Income to its investors.

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 Income'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 Income 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 Income's expectations include, but
are not limited to, ability to execute on the business plan and drive 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,
ability to maintain a qualified diversified portfolio, impact of local
economics, ability to successfully implement an exit strategy, 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 Income's Annual Report on Form 10-K for the year ended December 31,
2012 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 Income 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.

SOURCE NorthStar Real Estate Income Trust, Inc.

Contact: Joe Calabrese, 212.827.3772,
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