CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Net interest income
Interest income	$ 26,901	$ 16,191	$ 51,002	$ 28,858
Interest expense	5,710	3,263	11,294	5,801
Net interest income	21,191	12,928	39,708	23,057
Other revenues
Rental and other income	5,634	0	10,478	0
Total other revenues	5,634	0	10,478	0
Expenses
Asset management and other fees - related party	5,723	2,765	10,642	6,188
Other interest expense	1,519	0	2,805	0
Transaction costs	758	687	770	994
Property operating expenses	2,787	0	5,245	0
General and administrative expenses (refer to Note 8)	3,529	2,346	6,090	4,038
Depreciation	1,420	0	2,603	0
Total expenses	15,736	5,798	28,155	11,220
Income (loss) from operations	11,089	7,130	22,031	11,837
Equity in earnings (losses) of unconsolidated ventures	8,961	5,827	18,098	9,042
Realized gain (loss) on investments and other	0	0	(175)	0
Net income (loss)	20,050	12,957	39,954	20,879
Net (income) loss attributable to non-controlling interests	178	0	205	0
Net income (loss) attributable to NorthStar Real Estate Income Trust, Inc. common stockholders	$ 20,228	$ 12,957	$ 40,159	$ 20,879
Net income (loss) per share of common stock, basic / diluted (usd per share)	$ 0.17	$ 0.14	$ 0.35	$ 0.26
Weighted average number of shares of common stock outstanding, basic/diluted (shares)	116,020,563	94,726,276	115,572,651	81,619,944
Distributions declared per share of common stock (usd per share)	$ 0.20	$ 0.20	$ 0.40	$ 0.40