by admin

NEW YORK CITY — NorthStar Real Estate Income II Inc. has originated a $45.75 million senior loan, which is secured by a portfolio of three full-service hotels in Pennsylvania and Florida. The loan includes a 36-month term and two one-year extension options. The hotel portfolio features a total of 680 rooms and more than 26,000 square feet of total meeting space. Additionally, more than $17 million has been invested in the properties over the past 18 months. Proceeds from the senior loan will be used for additional planned improvements. NorthStar Income II’s portfolio consists of six loans with an aggregate principal amount of $227.8 million as of August 28, 2014. NorthStar Income II is a public, non-traded real estate investment trust sponsored by NorthStar Asset Management Group Inc.

You may also like