Newcastle Investment Corp.

Investment Strategyprint

Newcastle Investment Corp. (NYSE: NCT) is a real estate investment trust that focuses on investing in, and actively managing, real estate related assets and primarily invests in: (1)  Real Estate Debt and (2) Golf & Other Investments.

Our primary investment areas are summarized below.

Real Estate Debt

We invest in real estate and other related debt throughout over a decade of dynamic market conditions.

We actively manage CDOs and several other real estate investments.  To enhance our returns, we seek to opportunistically buy back our liabilities at a significant discount, and to execute on other niche opportunities, such as collapsing our CDOs.


In December, Newcastle completed the restructuring of an existing debt investment in National Golf Properties. Through the transaction, Newcastle acquired the equity of National Golf Properties and its affiliate, American Golf Corporation (together the “Golf Business”), and Newcastle invested $49 million, which consisted of an approximately $47 million senior loan and $2 million of equity.

As of September 2014, we are the fifth largest operator and third largest owner of golf courses in the U.S. - operating or owning a portfolio of 90 golf courses across 15 states.

More detailed information about our business is included in our reports filed with the Securities and Exchange Commission (SEC). These reports describe, among other things, certain risks that could have a material adverse impact on our ability to achieve our business objectives, realize our expected investment returns, and pay dividends. We urge you to review these risks and the other information in our SEC reports.