Ranch Lake Plaza, Bradenton, FL

Investment Profile*
*The loan information is specific to this investment and does not reflect NorthStar Income’s entire portfolio.
Ranch Lake Plaza, Bradenton, FL
Whole Loan Origination
NorthStar Real Estate Income Trust, Inc. (“NorthStar Income”)
a public, non-traded real estate investment trust (REIT)
directly originated a $9.5MM senior loan (the “Loan”) for the
refinancing of an 85,565 square foot grocery-anchored retail
center (the “Property”) owned by an experienced full-service
real estate company (the “Owner”).
Key Deal Strengths & Highlights
Loan Information
• The Loan has a current pay 8.25% coupon.1
Loan Amount:
$9,500,000
Origination Date:
September 28, 2011
Investment Type:
Senior Loan
Initial Term:
36 Months
Extension Options:
Two 1-year options
Interest Rate:
8.25%1
Fees:
1.0% upfront
Exposure Per Sq. Ft.:
$111
• The Parent Company identified Sweetbay as the third
largest grocery chain on the west coast of Florida as of
December 2010.
Loan-to-Value:
76%2
• Sweetbay occupies approximately 58% of the Property.
Location:
Bradenton, FL
Property Description
Property Type:
Grocery-Anchored Retail
Class:
A
• The Property was completed in 2002 and is currently
96%4 occupied.
Year Built:
2002
Buildings:
2 + one outparcel
Parking Spaces:
392
Current Net Income:
$1.1M3
2011 Occupancy:
96%4
• The Owner has developed and acquired approximately
4 million square feet of retail space nationwide.
• The Property is anchored by Sweetbay Supermarket
(“Sweetbay”), with a remaining lease term of 11 years as
of September 2011. The lease is guaranteed by Delhaize
America, Inc., an affiliate of Delhaize Group S.A. (the
“Parent Company”).
Property Information
• Ranch Lake Plaza is anchored by Sweetbay and contains
McGee Tires, Crispers, Anytime Fitness and a variety of
local retail and service tenants.
• The Property is centrally located near I-75, the main
north-south transportation corridor on Florida’s west
coast and enjoys great visibility.
1) The Owner pays one month Libor + 5% but with a minimum coupon 8.25%. The
current interest rate shown is for this specific loan and does not reflect the distribution
rate paid by NorthStar Income to its stockholders. 2) Based on current appraised
value as determined by CBRE – Valuation & Advisory services August 2011.
3) Based on in place rent roll less 2010 operating expenses. 4) As of September 2011.
NorthStar Income does not own the property depicted in the photo and instead it
represents the real estate collateral securing the Loan. All information provided is as
of the origination date unless otherwise noted.
This literature must be read in conjunction with the prospectus in order to
fully understand all of the implications and risks of the offering of securities
to which the prospectus relates. A copy of the prospectus must be made
available to you in connection with any offering.
Market Overview
• The Property is proximate to Lakewood Ranch, an 8,500 acre
master planned community that is home to approximately 15,000
people and 1,200 businesses.
Ranch Lake Plaza
• Lakewood Ranch features a Main Street with theaters, a
hospital, the Sarasota Polo Club and four million square feet of
commercial property.
• The Sarasota-Bradenton MSA has proven resilient over the past
12 months, with hiring in the following sectors: Manufacturing,
Leisure & Hospitality, and Education and Health Services.6
6) CBRE Market View - Sarasota-Bradenton Office, Second Quarter 2011.
Disclosure
This Investment Profile includes forward-looking statements that can be identified by the use of words such as “will,” “may,” “should,” or other
comparable terminology. Statements concerning projections, future performance, cash flows, occupancy growth or maintenance and improvements,
contributions of additional value-add work and any other guidance on present or future periods constitute forward-looking statements. Forward-looking
statements involve significant risks and uncertainties and you should not unduly rely on these statements. You should be aware that a number of
important factors could cause our actual results to differ materially from those in these forward-looking statements. The statements made herein are
as of the date hereof and we undertake no obligation to update these statements except as may be required by applicable securities laws. 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 or change of events, conditions or circumstances on which any statement is based.
Consider the following risks before making an investment in NorthStar Income, a public, non-traded real estate investment trust (REIT):
• If we are unable to find suitable investments, we may not be able to achieve our investment objectives or pay distributions.
• We have limited operating history and depend upon our advisor to manage our business.
• We pay substantial fees to our advisor that were not negotiated at arm’s length.
• We have not identified most of the investments we will acquire with the net proceeds of our offering.
• If we raise substantially less than the maximum offering, we may not be able to acquire a diversified portfolio of investments.
• If we pay distributions from sources other than our cash flow from operations, including offering proceeds or borrowings, we will have fewer
funds available for investments.
• As with any real estate investment, there are various risks including but not limited to: unfavorable market conditions, loss of principal and
limited liquidity.
• No public market currently exists for our shares and we are not obligated to effectuate a liquidity event by a certain date.
• Our advisor faces conflicts of interest.
• Failure to qualify as a REIT would adversely affect our operations and our ability to make distributions.
This material is neither an offer to sell nor a solicitation of an offer to buy securities. An offering is made only by the prospectus. This literature must be
read in conjunction with the prospectus in order to fully understand all of the implications and risks of the offering of securities to which
the prospectus relates. A copy of the prospectus must be made available to you in connection with any offering. No offering is made except
by a prospectus filed with the Department of Law of the State of New York. Neither the Attorney-General of the State of New York nor any other State
regulators have passed on or endorsed the merits of the offering made by the prospectus. Any representation to the contrary is unlawful.
877.940.8777
NorthStarREIT.com/Income
Securities offered through NorthStar Realty Securities, LLC, member FINRA/SIPC, an affiliate of NorthStar Income, the dealer manager for NorthStar Income.
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