Consolidated Balance Sheets (USD $)	Sep. 30, 2011	Dec. 31, 2010
Assets
Cash	$ 40,588,178	$ 20,404,832
Restricted cash	4,945,802	0
Real estate securities, available for sale	34,255,310	31,264,331
Real estate debt investments, net	29,225,791	0
Interest receivable	273,784	128,287
Subscriptions receivable, net	721,598	234,267
Deferred financing costs, net	38,332	46,216
Other assets	7,375	0
Total assets	110,056,170	52,077,933
Liabilities
Borrowings	24,061,212	24,061,212
Accounts payable and accrued expenses	1,000,300	255,874
Escrow deposits payable	4,945,802	0
Distribution payable	559,507	208,594
Total liabilities	30,566,821	24,525,680
NorthStar Real Estate Income Trust, Inc. Stockholders' Equity
Preferred stock, $0.01 par value per share; 50,000,000 shares authorized, no shares issued and outstanding at September 30, 2011 and December 31, 2010
Common stock, $0.01 par value per share; 400,000,000 shares authorized, 9,349,865 and 3,193,414 shares issued and outstanding at September 30, 2011 and December 31, 2010, respectively	93,498	31,934
Additional paid-in capital	81,448,420	26,775,538
Retained (deficit) earnings	(2,100,369)	740,547
Accumulated other comprehensive income	43,527	0
Total NorthStar Real Estate Income Trust, Inc. stockholders' equity	79,485,076	27,548,019
Non-controlling interests	4,273	4,234
Total equity	79,489,349	27,552,253
Total liabilities and equity	$ 110,056,170	$ 52,077,933