5/07/2010 | By Jason C. Flynn
NRF Capital Markets will be responsible for selling a new non-traded commercial finance REIT, the NorthStar Real Estate Income Trust. According to Andrew Richardson, chief financial officer of
NorthStar Realty Finance
, the new REIT would have no assets and focus on "lower-leverage, lower-yielding real estate debt and securities."
NorthStar Realty Finance made the announcement on April 28, which included the news that NRF Capital Markets also has been approved as a member of Financial Industry Regulatory Authority, Inc. FINRA.
NRF Capital Markets marks NorthStar Realty Finance's first entry into the non-traded REIT space. However Richardson noted that he is optimistic that success with NRF will open more doors for NorthStar.
"We hope that this initial offering in the non-traded REIT space would lead to more opportunities to sponsor and advise REITs in the non-offered space," Richardson said.