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NorthStar Income II Closes $100MM Credit Facility With Deutsche Bank

July 18, 2014, 07:11 AM
Filed Under: Real Estate

NorthStar Real Estate Income II, Inc. (NorthStar Income II) has entered into a $100 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 $200 million, including its existing facility with Citibank, N.A.

"This facility represents a core component of our business strategy and highlights the importance of our sponsor's established relationships with institutional financing partners," said Daniel R. Gilbert, chief executive officer and president. "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 $157.2 million as of July 16, 2014.

NorthStar Income II is a public, non-traded real estate investment trust (REIT) sponsored by NorthStar Asset Management Group Inc. NorthStar Income II was formed to originate, acquire and asset manage a diversified portfolio of commercial real estate debt, select equity and securities investments.

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