Income 2 got a 100 million line of credit. Now it can use leverage to make loans. From 8-K:
"On October 15, 2013, CB Loan NT-II, LLC (“CB Loan II”), an indirect wholly-owned subsidiary of NorthStar Real Estate Income II, Inc. (“NorthStar Income II”), entered into a Master Repurchase Agreement (the “Citi Credit Facility”) with Citibank, N.A. (“Citibank”). The Citi Credit Facility provides up to $100 million to finance first mortgage loans and senior loan participations secured by commercial real estate, as described in more detail in the Citi Credit Facility documentation.
Advances under the Citi Credit Facility accrue interest at per annum rates ranging from the one-month London Interbank Offered Rate (the “LIBOR Rate”), plus a spread of 2.50% to 3.00%. The Citi Credit Facility provides for advance rates up to 75%, depending on asset type, subject to adjustment. The initial maturity date of the Citi Credit Facility is October 15, 2016 (the “Initial Term”), with a one-year extension at NorthStar Income II’s option, which may be exercised upon the satisfaction of certain conditions set forth in the Citi Credit Facility. During the Initial Term, the Citi Credit Facility acts as a revolving credit facility that can be paid down and subsequently re-drawn."
Also, from 424B3, supplement 5:
" As of October 15, 2013, we received and accepted subscriptions in our offering for 0.29 million shares, or $2.69 million, including 0.2 million shares, or $2.0 million, sold to an affiliate of NorthStar Realty Finance Corp., "
So, they have 690K from the public as of 10/15. The ramp will be interesting to watch, as with Healthcare.