Newcastle Investment Corp.

Real Estate Debtprint

We actively manage CDOs and other real estate investments. Our investments are primarily secured by or related to commercial real estate. To enhance our returns, we seek to execute on strategies such as collapsing our CDOs or opportunistically investing within our CDOs.

At June 30, 2015, our real estate debt portfolio consists of $575 million face amount, or $455 million fair value, of assets as detailed below:

  1. $373 million face amount of non-agency assets, or $247 million fair value

  2. $202 million face amount of agency assets, or $208 million fair value

Fair Value of Legacy Real Estate Debt Portfolio



Face Amount Fair Value
  (%) ($)
Non-Agency Assets
Bank Loans $185 73.0 $135
Commercial Loans 41 56.1 23
Other Securities & Loans 72 51.4 37
CDO VI 75 69.4 52
Total Non-Agency $373 66.2 247
Agency Securities 202 103.0 208
Total Assets $575 79.1 $455

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.