NorthStar Real Estate Income Trust 10-K 27 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Mar. 26, 2015	Jun. 30, 2014
Document and Entity Information
Entity Registrant Name	NorthStar Real Estate Income Trust, Inc.
Entity Central Index Key	1455650
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Document Type	10-K
Entity Common Stock, Shares Outstanding		118,693,137
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Public Float			$0

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets
Cash	$35,755	$119,595
Restricted cash	125,459	223,002
Real estate debt investments, net	1,327,925	1,074,773
Real estate debt investments, held for sale	0	17,500
Operating real estate, net	403,347	125,168
Investments in unconsolidated ventures	195,860	156,616
Real estate securities, available for sale	79,636	66,450
Receivables, net	12,080	30,500
Deferred costs and other assets, net	12,836	17,500
Total assets	2,192,898	1,831,104
Liabilities
Securitization bonds payable	413,510	506,929
Mortgage notes payable	318,062	102,500
Credit facilities	269,483	28,323
Due to related party	0	3,076
Accounts payable and accrued expenses	13,812	3,843
Escrow deposits payable	104,325	172,623
Other liabilities	11,009	8,585
Total liabilities	1,130,201	825,879
Commitments and contingencies
NorthStar Real Estate Income Trust, Inc. Stockholders’ Equity
Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares issued and outstanding as of December 31, 2014 and 2013	0	0
Common stock, $0.01 par value, 400,000,000 shares authorized, 117,846,562 and 114,536,134 shares issued and outstanding as of December 31, 2014 and 2013, respectively	1,178	1,145
Additional paid-in capital	1,050,632	1,019,348
Retained earnings (accumulated deficit)	-36,884	-32,886
Accumulated other comprehensive income (loss)	28,414	13,044
Total NorthStar Real Estate Income Trust, Inc. stockholders’ equity	1,043,340	1,000,651
Non-controlling interests	19,357	4,574
Total equity	1,062,697	1,005,225
Total liabilities and equity	$2,192,898	$1,831,104

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	117,846,562	114,536,134
Common stock, shares outstanding	117,846,562	114,536,134

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Net interest income
Interest income	$102,697	$77,553	$24,601
Interest expense	21,100	15,179	3,299
Net interest income	81,597	62,374	21,302
Other revenues
Rental and other income	29,342	1,970	0
Total other revenues	29,342	1,970	0
Expenses
Asset management and other fees - related party	24,676	17,925	3,360
Mortgage notes interest expense	7,763	583	0
Transaction costs	2,777	2,862	0
Property operating expenses	15,433	823	0
General and administrative expenses (refer to Note 8)	13,265	8,659	3,209
Depreciation and amortization	6,427	503	0
Total expenses	70,341	31,355	6,569
Other income (loss)
Realized gain (loss) on investments and other	397	0	3,028
Unrealized gain (loss) on investments and other	11,764	0	-2,457
Income (loss) before equity in earnings (losses) of unconsolidated ventures	52,759	32,989	15,304
Equity in earnings (losses) of unconsolidated ventures	36,194	28,028	0
Net income (loss)	88,953	61,017	15,304
Net (income) loss attributable to non-controlling interests	171	254	0
Net income (loss) attributable to NorthStar Real Estate Income Trust, Inc. common stockholders	$89,124	$61,271	$15,304
Net income (loss) per share of common stock, basic/diluted	$0.77	$0.63	$0.44
Weighted average number of shares of common stock outstanding, basic/diluted	116,121,313	97,827,244	34,928,761

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Comprehensive Income [Abstract]
Net income (loss)	$88,953	$61,017	$15,304
Other comprehensive income (loss):
Unrealized gain (loss) on real estate securities, available for sale	15,370	12,586	365
Total other comprehensive income (loss)	15,370	12,586	365
Comprehensive income (loss)	104,323	73,603	15,669
Comprehensive (income) loss attributable to non-controlling interests	171	254	0
Comprehensive income (loss) attributable to NorthStar Real Estate Income Trust, Inc.	$104,494	$73,857	$15,669

CONSOLIDATED_STATEMENTS_OF_EQU

CONSOLIDATED STATEMENTS OF EQUITY (USD $)	Total	Total Company's Stockholders' Equity	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)	Non- controlling Interests
In Thousands, except Share data, unless otherwise specified
Beginning Balance at Dec. 31, 2011	$135,907	$135,903	$159	$138,968	($3,317)	$93	$4
Beginning Balance (in shares) at Dec. 31, 2011			15,847,000
Increase (Decrease) in Stockholders' Equity
Number of shares issued	43,400,000		43,407,000
Net proceeds from issuance of common stock	385,098	385,098	433	384,665
Proceeds from distribution reinvestment plan	1,100,000		1,085,000
Proceeds from distribution reinvestment plan	10,305	10,305	11	10,294
Shares redeemed for cash	-141,503		-142,000
Shares redeemed for cash	-1,371	-1,371	-1	-1,370
Issuance and amortization of equity-based compensation (in shares)			8,000
Issuance and amortization of equity-based compensation	60	60		60
Other comprehensive income (loss)	365	365				365	0
Distributions declared	-27,922	-27,922			-27,922
Net income (loss)	15,304	15,304			15,304		0
Ending Balance at Dec. 31, 2012	517,746	517,742	602	532,617	-15,935	458	4
Ending Balance (in shares) at Dec. 31, 2012			60,205,000
Increase (Decrease) in Stockholders' Equity
Number of shares issued	51,500,000		51,475,000
Net proceeds from issuance of common stock	460,225	460,225	515	459,710
Proceeds from distribution reinvestment plan	3,400,000		3,438,000
Proceeds from distribution reinvestment plan	32,649	32,649	34	32,615
Shares redeemed for cash	-593,226		-593,000
Shares redeemed for cash	-5,694	-5,694	-6	-5,688
Issuance and amortization of equity-based compensation (in shares)			11,000
Issuance and amortization of equity-based compensation	94	94		94
Other comprehensive income (loss)	12,586	12,586				12,586	0
Distributions declared	-78,222	-78,222			-78,222
Net income (loss)	61,017	61,271			61,271		-254
Non-controlling interests - contributions	4,824						4,824
Ending Balance at Dec. 31, 2013	1,005,225	1,000,651	1,145	1,019,348	-32,886	13,044	4,574
Ending Balance (in shares) at Dec. 31, 2013			114,536,000
Increase (Decrease) in Stockholders' Equity
Proceeds from distribution reinvestment plan	4,500,000		4,493,000
Proceeds from distribution reinvestment plan	42,659	42,659	45	42,614
Shares redeemed for cash	-1,190,000		-1,193,000
Shares redeemed for cash	-11,468	-11,468	-12	-11,456
Issuance and amortization of equity-based compensation (in shares)			11,000
Issuance and amortization of equity-based compensation	126	126		126
Other comprehensive income (loss)	15,370	15,370				15,370
Distributions declared	-93,122	-93,122			-93,122
Net income (loss)	88,953	89,124			89,124		-171
Non-controlling interests - contributions	15,727						15,727
Non-controlling interests - distributions	-773						-773
Ending Balance at Dec. 31, 2014	$1,062,697	$1,043,340	$1,178	$1,050,632	($36,884)	$28,414	$19,357
Ending Balance (in shares) at Dec. 31, 2014			117,847,000

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net income (loss)	$88,953	$61,017	$15,304
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Equity in (earnings) losses of unconsolidated ventures	-36,194	-28,028	0
Depreciation and amortization	6,427	503	0
Straight line rental income	-199	0	0
Amortization of premium/accretion of discount and fees on investments and borrowings, net	2,894	3,171	470
Amortization of deferred financing costs	4,261	3,258	391
Interest accretion on investments	-1,318	140	-301
Distributions from unconsolidated ventures (refer to Note 5)	36,194	28,665	0
Realized (gain) loss on investments and other	-397	0	-3,028
Unrealized (gain) loss on investments and other	-11,764	0	2,457
Amortization of equity-based compensation	126	94	60
Changes in assets and liabilities:
Restricted cash	-2,764	-903	-417
Receivables, net	4,374	-3,227	-1,524
Deferred costs and other assets	-490	-1,047	0
Due to related party	-3,076	1,857	-94
Accounts payable and accrued expenses	4,165	297	49
Other liabilities	2,200	803	0
Net cash provided by (used in) operating activities	93,392	66,600	13,367
Cash flows from investing activities:
Origination of real estate debt investments, net	-490,467	-615,430	-445,630
Acquisition of real estate debt investments, related party	0	-79,095	0
Repayment on real estate debt investments	252,824	59,184	4,750
Proceeds from sale of real estate debt investments	17,325	41,383	0
Acquisition of operating real estate, net	-247,625	-125,671	0
Improvement of operating real estate	-7,818	0	0
Investments in unconsolidated ventures (refer to Note 5)	-52,885	-204,192	0
Distributions from unconsolidated ventures (refer to Note 5)	30,344	41,130	0
Acquisition of real estate securities, available for sale	0	-23,285	-26,144
Proceeds from sales of real estate securities, available for sale	4,008	0	32,379
Purchase of derivative instrument	0	0	-9,750
Change in restricted cash	-9,793	-6,450	0
Deferred costs and other assets, net	0	-1,359	0
Net cash provided by (used in) investing activities	-504,087	-913,785	-444,395
Cash flows from financing activities:
Net proceeds from issuance of common stock	0	460,094	382,937
Proceeds from issuance of common stock, related party	0	0	2,293
Proceeds from distribution reinvestment plan	42,659	32,649	10,305
Shares redeemed for cash	-11,468	-5,694	-1,371
Distributions paid on common stock	-92,896	-74,345	-25,013
Repayment of secured term loans	0	0	-24,061
Repayment of mortgage notes	-121	0	0
Borrowings from mortgage notes	186,550	102,500	0
Borrowings from credit facilities	257,798	99,550	244,048
Repayment of credit facilities	-16,638	-197,548	-117,727
Proceeds from securitization bonds	0	382,046	129,216
Repayment of securitization bonds	-93,475	0	-4,750
Change in restricted cash	41,801	-42,608	0
Payment of deferred financing costs	-2,309	-8,415	-4,981
Distributions to non-controlling interests	15,727	4,824	0
Distributions to non-controlling interests	-773	0	0
Net cash provided by (used in) financing activities	326,855	753,053	590,896
Net increase (decrease) in cash	-83,840	-94,132	159,868
Cash - beginning of period	119,595	213,727	53,859
Cash - end of period	35,755	119,595	213,727
Supplemental disclosure of cash flow information:
Cash paid for interest	24,148	11,751	2,700
Supplemental disclosure of non-cash investing and financing activities:
Escrow deposits payable related to real estate debt investments	68,298	100,776	65,148
Due to related party	0	0	11,795
Distribution payable	8,007	7,782	3,905
Accrued cost of capital	0	0	2,373
Non-cash related to PE Investments (refer to Note 5)	2,990	6,446	0
CRE debt investment payoff due from servicer	0	15,107	0
Acquisition of operating real estate / assumption of mortgage notes payable	29,133	0	0
Subscriptions receivable, gross	$0	$0	$2,241

Business_and_Organization

Business and Organization	12 Months Ended
	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Organization	Business and Organization
	NorthStar Real Estate Income Trust, Inc. (the “Company”) was formed to originate, acquire and asset manage a diversified portfolio of commercial real estate (“CRE”) debt, select equity and securities investments, predominantly in the United States. The Company may also invest in CRE investments internationally. CRE debt investments include first mortgage loans, subordinate mortgage and mezzanine loans and participations in such loans and preferred equity interests. Real estate equity investments include the Company’s direct ownership in properties, which may be owned through a joint venture and may be structurally senior to a third-party partner’s equity and indirect interests in real estate through real estate private equity funds (“PE Investments”). CRE securities primarily consist of commercial mortgage-backed securities (“CMBS”) and may include unsecured real estate investment trust (“REIT”) debt, collateralized debt obligation (“CDO”) notes and other securities. The Company was formed in January 2009 as a Maryland corporation and commenced operations in October 2010. The Company elected to be taxed as a REIT under the Internal Revenue Code of 1986 commencing with the taxable year ended December 31, 2010. The Company conducts its operations so as to continue to qualify as a REIT for U.S. federal income tax purposes.
	The Company is externally managed and has no employees. Prior to June 30, 2014, the Company was managed by an affiliate of NorthStar Realty Finance Corp. (NYSE: NRF) (“NorthStar Realty”). Effective June 30, 2014, NorthStar Realty spun-off its asset management business into a separate publicly traded company, NorthStar Asset Management Group Inc. (NYSE: NSAM) (the “Sponsor”). The Sponsor and its affiliates provide asset management and other services to the Company, NorthStar Realty, other sponsored public non-traded companies and any other companies the Sponsor and its affiliates may manage in the future (collectively, the “NSAM Managed Companies”), both in the United States and internationally. Concurrent with the spin-off, affiliates of the Sponsor entered into a new advisory agreement with the Company and each of the other NSAM Managed Companies. Pursuant to the Company’s advisory agreement, NSAM J-NSI Ltd, an affiliate of the Sponsor (the “Advisor”), agreed to manage the day-to-day operations of the Company on terms substantially similar to those set forth in the Company’s prior advisory agreement with NS Real Estate Income Trust Advisor, LLC (the “Prior Advisor”). References to the “Prior Advisor” herein refer to the services performed by and fees paid and accrued to the Prior Advisor during the period prior to June 30, 2014. The spin-off of NorthStar Realty’s asset management business had no impact on the Company’s operations.
	Substantially all business is conducted through NorthStar Real Estate Income Trust Operating Partnership, LP (the “Operating Partnership”). The Company is the sole general partner of the Operating Partnership. The limited partners of the Operating Partnership are NS Real Estate Income Trust Advisor, LLC and NorthStar OP Holdings, LLC (the “Special Unit Holder”), each an affiliate of the Sponsor. An affiliate of the Sponsor invested $1,000 in the Operating Partnership in exchange for common units and the Special Unit Holder invested $1,000 in the Operating Partnership and has been issued a separate class of limited partnership units (the “Special Units”), which are collectively recorded as non-controlling interests on the consolidated balance sheets as of December 31, 2014 and 2013. As the Company accepted subscriptions for shares in its continuous, public offering which closed in July 2013, it contributed substantially all of the net proceeds to the Operating Partnership as a capital contribution. As of December 31, 2014, the Company’s limited partnership interest in the Operating Partnership was 99.98%.
	The Company’s charter authorizes the issuance of up to 400,000,000 shares of common stock with a par value of $0.01 per share and up to 50,000,000 shares of preferred stock with a par value of $0.01 per share. The board of directors of the Company is authorized to amend its charter, without the approval of the stockholders, to increase the aggregate number of authorized shares of capital stock or the number of shares of any class or series that the Company has authority to issue.
	The Company initially registered to offer up to 100,000,000 shares pursuant to the primary offering (the “Primary Offering”) and up to 10,526,315 shares pursuant to the distribution reinvestment plan (the “DRP”), which are herein collectively referred to as the Offering. In April 2013, the board of directors of the Company authorized the reallocation of shares available under the DRP to the Primary Offering. The Primary Offering (including 7.6 million shares reallocated from the DRP, the “Total Primary Offering”) was completed on July 1, 2013 and all of the shares initially registered for the Offering were issued. As a result of a registration statement to offer up to an additional 15.0 million shares pursuant to the DRP, the Company continues to offer shares beyond the Total Primary Offering.
	From inception through March 26, 2015, the Company raised total gross proceeds of $1.2 billion.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies
	Basis of Accounting
	The accompanying consolidated financial statements and related notes of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”).
	Principles of Consolidation
	The consolidated financial statements include the accounts of the Company, the Operating Partnership and their consolidated subsidiaries. The Company consolidates variable interest entities (“VIE”) where the Company is the primary beneficiary and voting interest entities which are generally majority owned or otherwise controlled by the Company. All significant intercompany balances are eliminated in consolidation.
	Variable Interest Entities
	A VIE is an entity that lacks one or more of the characteristics of a voting interest entity. A VIE is defined as an entity in which equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. The determination of whether an entity is a VIE includes both a qualitative and quantitative analysis. The Company bases its qualitative analysis on its review of the design of the entity, its organizational structure including decision-making ability and relevant financial agreements and the quantitative analysis on the forecasted cash flow of the entity. The Company reassesses its initial evaluation of an entity as a VIE upon the occurrence of certain reconsideration events.
	A VIE must be consolidated only by its primary beneficiary, which is defined as the party who, along with its affiliates and agents has both the: (i) power to direct the activities that most significantly impact the VIE’s economic performance; and (ii) obligation to absorb the losses of the VIE or the right to receive the benefits from the VIE, which could be significant to the VIE. The Company determines whether it is the primary beneficiary of a VIE by considering qualitative and quantitative factors, including, but not limited to: which activities most significantly impact the VIE’s economic performance and which party controls such activities; the amount and characteristics of its investment; the obligation or likelihood for the Company or other interests to provide financial support; consideration of the VIE’s purpose and design, including the risks the VIE was designed to create and pass through to its variable interest holders and the similarity with and significance to the business activities of the Company and the other interests. The Company reassesses its determination of whether it is the primary beneficiary of a VIE each reporting period. Significant judgments related to these determinations include estimates about the current and future fair value and performance of investments held by these VIEs and general market conditions.
	The Company evaluates its investments and financings, including investments in unconsolidated ventures and securitization financing transactions to determine whether they are a VIE. The Company analyzes new investments and financings, as well as reconsideration events for existing investments and financings, which vary depending on type of investment or financing. As of December 31, 2014, the Company identified one VIE related to its securities investments. The VIE has a carrying value of $52.6 million as of December 31, 2014. The Company’s maximum exposure to loss as of December 31, 2014 would not exceed the carrying value of its investment. Based on management’s analysis, the Company determined that it does not currently or potentially hold a significant interest in this VIE and, therefore, is not the primary beneficiary. Accordingly, the VIE is not consolidated in the Company’s financial statements as of December 31, 2014. The Company did not provide financial support to its unconsolidated VIE during the year ended December 31, 2014. As of December 31, 2014, there were no explicit arrangements or implicit variable interests that could require the Company to provide financial support to its unconsolidated VIE. An affiliate of the Sponsor is named special servicer of the VIE.
	Voting Interest Entities
	A voting interest entity is an entity in which the total equity investment at risk is sufficient to enable it to finance its activities independently and the equity holders have the power to direct the activities of the entity that most significantly impact its economic performance, the obligation to absorb the losses of the entity and the right to receive the residual returns of the entity. The usual condition for a controlling financial interest in a voting interest entity is ownership of a majority voting interest. If the Company has a majority voting interest in a voting interest entity, the entity will generally be consolidated. The Company does not consolidate a voting interest entity if there are substantive participating rights by other parties and/or kick-out rights by a single party.
	The Company performs on-going reassessments of whether entities previously evaluated under the voting interest framework have become VIEs, based on certain events, and therefore subject to the VIE consolidation framework.
	Investments in Unconsolidated Ventures
	Non-controlling, unconsolidated ownership interests in an entity may be accounted for using the equity method, at fair value or the cost method.
	Under the equity method, the investment is adjusted each period for capital contributions and distributions and its share of the entity’s net income (loss). Capital contributions, distributions and net income (loss) of such entities are recorded in accordance with the terms of the governing documents. An allocation of net income (loss) may differ from the stated ownership percentage interest in such entity as a result of preferred returns and allocation formulas, if any, as described in such governing documents. Equity method investments are recognized using a cost accumulation model in which the investment is recognized based on the cost to the investor, which includes acquisition fees. Acquisition fees incurred directly in connection with the investment in a joint venture are capitalized and amortized using the straight-line method over the estimated useful life of the underlying joint venture assets.
	The Company may account for an investment in an unconsolidated entity at fair value by electing the fair value option. The Company elected the fair value option for PE Investments. The Company records the change in fair value for its share of the projected future cash flow of such investments from one period to another in equity in earnings (losses) from unconsolidated ventures in the consolidated statements of operations. Any change in fair value attributed to market related assumptions is considered unrealized gain (loss).
	The Company may account for an investment that does not qualify for equity method accounting or for which the fair value option was not elected using the cost method if the Company determines the investment in the unconsolidated entity is insignificant. Under the cost method, equity in earnings is recorded as dividends are received to the extent they are not considered a return of capital, which is recorded as a reduction of cost of the investment.
	Non-controlling Interests
	A non-controlling interest in a consolidated subsidiary is defined as the portion of the equity (net assets) in a subsidiary not attributable, directly or indirectly, to the Company. A non-controlling interest is required to be presented as a separate component of equity on the consolidated balance sheets and presented separately as net income (loss) and other comprehensive income (loss) (“OCI”) attributable to controlling and non-controlling interests. An allocation to a non-controlling interest may differ from the stated ownership percentage interest in such entity as a result of preferred returns and allocation formulas, if any, as described in such governing documents.
	Estimates
	The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that could affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates and assumptions.
	Reclassifications
	Certain prior period amounts have been reclassified in the consolidated financial statements to conform to current period presentation.
	Comprehensive Income (Loss)
	The Company reports consolidated comprehensive income (loss) in separate statements following the consolidated statements of operations. Comprehensive income (loss) is defined as the change in equity resulting from net income (loss) and OCI. The only component of OCI is unrealized gain (loss) on CRE securities available for sale for which the fair value option was not elected.
	Cash
	The Company considers all highly-liquid investments with a remaining maturity date of three months or less to be cash. Cash, including amounts restricted, may at times exceed the Federal Deposit Insurance Corporation deposit insurance limit of $250,000 per institution. The Company mitigates credit risk by placing cash with major financial institutions. To date, the Company has not experienced any losses on cash.
	Restricted Cash
	Restricted cash consists of amounts related to loan originations (escrow deposits) and operating real estate (escrows for taxes, insurance, capital expenditures, tenant security deposits and payments required under certain lease agreements).
	Fair Value Option
	The fair value option provides an election that allows a company to irrevocably elect fair value for certain financial assets and liabilities on an instrument-by-instrument basis at initial recognition. The Company will generally not elect the fair value option for its assets and liabilities. However, the Company may elect to apply the fair value option for certain investments. Any change in fair value for assets and liabilities for which the election is made is recognized in earnings.
	Real Estate Debt Investments
	CRE debt investments are generally intended to be held to maturity and, accordingly, are carried at cost, net of unamortized loan fees, premium, discount and unfunded commitments. CRE debt investments that are deemed to be impaired are carried at amortized cost less a loan loss reserve, if deemed appropriate, which approximates fair value. CRE debt investments where the Company does not have the intent to hold the loan for the foreseeable future or until its expected payoff are classified as held for sale and recorded at the lower of cost or estimated value.
	Operating Real Estate
	Operating real estate is carried at historical cost less accumulated depreciation. Costs directly related to an acquisition deemed to be a business combination are expensed and included in transaction costs in the consolidated statements of operations. Ordinary repairs and maintenance are expensed as incurred. Major replacements and betterments which improve or extend the life of the asset are capitalized and depreciated over their useful life.
	Operating real estate is depreciated using the straight-line method over the estimated useful lives of the assets, summarized as follows:
	Category:	Term:
	Building (fee interest)	30 to 40 years
	Building improvements	Lesser of the useful life or remaining life of the building
	Building (leasehold interest)	Lesser of 40 years or remaining term of the lease
	Land improvements	6 to 30 years
	Tenant improvements	Lesser of the useful life or remaining term of the lease
	The Company follows the purchase method for an acquisition of operating real estate, where the purchase price is allocated to tangible assets such as land, building, tenant and land improvements and other identified intangibles.
	Real Estate Securities
	The Company classifies its CRE securities investments as available for sale on the acquisition date, which are carried at fair value. Unrealized gains (losses) are recorded as a component of accumulated OCI in the consolidated statements of equity. However, the Company may elect the fair value option for certain of its available for sale securities, and as a result, any unrealized gains (losses) on such securities are recorded in unrealized gain (loss) on investments and other in the consolidated statements of operations. As of December 31, 2014, the Company did not have any CRE securities investments for which it elected the fair value option.
	Acquisition Fees and Expenses
	The total of all acquisition fees and expenses for an investment, including acquisition fees to the Advisor, cannot exceed, in the aggregate, 6.0% of the contract purchase price of such investment unless such excess is approved by a majority of the directors, including independent directors. For the year ended December 31, 2014, total acquisition fees and expenses did not exceed the allowed limit for any investment. An acquisition fee paid to the Advisor related to the origination or acquisition of CRE debt investments is included in CRE debt investments, net on the consolidated balance sheets and is amortized to interest income over the life of the investment using the effective interest method. An acquisition fee incurred related to an equity investment will generally be expensed as incurred.
	Revenue Recognition
	Real Estate Debt Investments
	Interest income is recognized on an accrual basis and any related premium, discount, origination costs and fees are amortized over the life of the investment using the effective interest method. The amortization is reflected as an adjustment to interest income in the consolidated statements of operations. The amortization of a premium or accretion of a discount is discontinued if such loan is reclassified to held for sale.
	Operating Real Estate
	Rental and other income from operating real estate is derived from leasing of space to various types of tenants. The leases are for fixed terms of varying length and generally provide for annual rentals and expense reimbursements to be paid in monthly installments. Rental income from leases is recognized on a straight-line basis over the term of the respective leases.
	Real Estate Securities
	Interest income is recognized using the effective interest method with any premium or discount amortized or accreted through earnings based on expected cash flow through the expected maturity date of the security. Changes to expected cash flow may result in a change to the yield which is then applied retrospectively for high-credit quality securities that cannot be prepaid or otherwise settled in such a way that the holder would not recover substantially all of the investment or prospectively for all other securities to recognize interest income.
	Credit Losses and Impairment on Investments
	Real Estate Debt Investments
	Loans are considered impaired when, based on current information and events, it is probable that the Company will not be able to collect principal and interest amounts due according to the contractual terms. The Company assesses the credit quality of the portfolio and adequacy of loan loss reserves on a quarterly basis or more frequently as necessary. Significant judgment of the Company is required in this analysis. The Company considers the estimated net recoverable value of the loan as well as other factors, including but not limited to the fair value of any collateral, the amount and the status of any senior debt, the quality and financial condition of the borrower and the competitive situation of the area where the underlying collateral is located. Because this determination is based on projections of future economic events, which are inherently subjective, the amount ultimately realized may differ materially from the carrying value as of the balance sheet date. If upon completion of the assessment, the estimated fair value of the underlying collateral is less than the net carrying value of the loan, a loan loss reserve is recorded with a corresponding charge to provision for loan losses. The loan loss reserve for each loan is maintained at a level that is determined to be adequate by management to absorb probable losses.
	Income recognition is suspended for a loan at the earlier of the date at which payments become 90-days past due or when, in the opinion of the Company, a full recovery of income and principal becomes doubtful. When the ultimate collectability of the principal of an impaired loan is in doubt, all payments are applied to principal under the cost recovery method. When the ultimate collectability of the principal of an impaired loan is not in doubt, contractual interest is recorded as interest income when received, under the cash basis method until an accrual is resumed when the loan becomes contractually current and performance is demonstrated to be resumed. A loan is written off when it is no longer realizable and/or legally discharged.
	Operating Real Estate
	The Company’s real estate portfolio is reviewed on a quarterly basis, or more frequently as necessary, to assess whether there are any indicators that the value of its operating real estate may be impaired or that its carrying value may not be recoverable. A property’s value is considered impaired if the Company’s estimate of the aggregate expected future undiscounted cash flow generated by the property is less than the carrying value. In conducting this review, the Company considers U.S. macroeconomic factors, real estate sector conditions and asset specific and other factors. To the extent an impairment has occurred, the loss is measured as the excess of the carrying value of the property over the estimated fair value and recorded in impairment on operating real estate in the consolidated statements of operations.
	An allowance for a doubtful account for a tenant receivable is established based on a periodic review of aged receivables resulting from estimated losses due to the inability of tenants to make required rent and other payments contractually due. Additionally, the Company establishes, on a current basis, an allowance for future tenant credit losses on unbilled rent receivable based on an evaluation of the collectability of such amounts.
	Real Estate Securities
	CRE securities for which the fair value option is elected are not evaluated for other-than-temporary impairment (“OTTI”) as any change in fair value is recorded in the consolidated statements of operations. Realized losses on such securities are reclassified to realized gain (loss) on investments and other as losses occur.
	CRE securities for which the fair value option is not elected are evaluated for OTTI quarterly. Impairment of a security is considered to be other-than-temporary when: (i) the holder has the intent to sell the impaired security; (ii) it is more likely than not the holder will be required to sell the security; or (iii) the holder does not expect to recover the entire amortized cost of the security. When a CRE security has been deemed to be other-than-temporarily impaired due to (i) or (ii), the security is written down to its fair value and an OTTI is recognized in the consolidated statements of operations. In the case of (iii), the security is written down to its fair value and the amount of OTTI is then bifurcated into: (a) the amount related to expected credit losses; and (b) the amount related to fair value adjustments in excess of expected credit losses. The portion of OTTI related to expected credit losses is recognized in the consolidated statements of operations. The remaining OTTI related to the valuation adjustment is recognized as a component of accumulated OCI in the consolidated statements of equity. The portion of OTTI recognized through earnings is accreted back to the amortized cost basis of the security through interest income, while amounts recognized through OCI are amortized over the life of the security with no impact on earnings. CRE securities which are not high-credit quality are considered to have an OTTI if the security has an unrealized loss and there has been an adverse change in expected cash flow. The amount of OTTI is then bifurcated as discussed above. As of December 31, 2014, the Company did not have any OTTI recorded on its CRE securities.
Derivatives
Derivatives are used to manage exposure to interest rate risk. All cash settlements and any change in fair value are recorded in interest income in the consolidated statements of operations. As of December 31, 2014, the Company had one interest rate floor as a hedge related to its floating-rate investments, maturing in October 2015 with a fair value of $2.8 million and a notional amount of $225.0 million. Derivatives are generally valued using a third-party pricing service. These quotations are not adjusted and are based on observable inputs that can be validated, and as such, are classified as Level 2 of the fair value hierarchy. Refer to Note 12 for further disclosure. The interest rate floor is included in deferred costs and other assets, net on the consolidated balance sheet as of December 31, 2014.
Organization and Offering Costs
The Prior Advisor, or its affiliates, was entitled to receive reimbursement for costs paid on behalf of the Company in connection with the Offering. The Company was obligated to reimburse the Prior Advisor for organization and offering costs to the extent the aggregate of selling commissions, dealer manager fees and other organization and offering costs do not exceed 15.0% of gross offering proceeds from the Total Primary Offering. The Prior Advisor initially expected reimbursable organization and offering costs would not exceed $15.0 million, or 1.5% of the total proceeds available to be raised from the Total Primary Offering. Based on gross proceeds raised of $1,072.9 million from the Total Primary Offering, the Company incurred reimbursable organization and offering costs, excluding selling commissions and dealer manager fees, of 1.0%, which was less than the 1.5% expected. The Company recorded organization and offering costs each period based upon an allocation determined by the expectation of total organization and offering costs to be reimbursed. Organization costs were recorded as an expense in general and administrative expenses in the consolidated statements of operations and offering costs were recorded as a reduction to equity.
Equity-Based Compensation
The Company accounts for equity-based compensation awards using the fair value method, which requires an estimate of fair value of the award at the time of grant. All fixed equity-based awards to directors, which have no vesting conditions other than time of service, are amortized to compensation expense over the awards’ vesting period on a straight-line basis. Equity-based compensation is classified within general and administrative expense in the consolidated statements of operations.
Income Taxes
The Company elected to be taxed as a REIT and to comply with the related provisions of the Internal Revenue Code of 1986, as amended. Accordingly, the Company will generally not be subject to U.S. federal income tax to the extent of its distributions to stockholders and as long as certain asset, income and share ownership tests are met. To maintain its qualification as a REIT, the Company must annually distribute at least 90% of its REIT taxable income to its stockholders and meet certain other requirements. The Company may also be subject to certain state, local and franchise taxes. Under certain circumstances, federal income and excise taxes may be due on its undistributed taxable income. If the Company were to fail to meet these requirements, it would be subject to U.S. federal income tax, which could have a material adverse impact on its results of operations and amounts available for distributions to its stockholders. The Company believes that all of the criteria to maintain the Company’s REIT qualification have been met for the applicable periods, but there can be no assurance that these criteria will continue to be met in subsequent periods. The Company has assessed its tax positions for all open tax years, which include 2010 to 2014, and concluded there were no material uncertainties to be recognized. The Company’s accounting policy with respect to interest and penalties is to classify these amounts as interest expense. The Company has not recognized any such amounts related to uncertain tax positions for the years ended December 31, 2014, 2013 and 2012.
Certain subsidiaries of the Company are subject to taxation by federal, state and foreign authorities for the periods presented. The Company and its U.S. subsidiaries will file a consolidated federal income tax return. Income taxes are accounted for by the asset/liability approach in accordance with U.S. GAAP. Deferred taxes, if any, represent the expected future tax consequences when the reported amounts of assets and liabilities are recovered or paid. Such amounts arise from differences between the financial reporting and tax bases of assets and liabilities and are adjusted for changes in tax laws and tax rates in the period which such changes are enacted. A provision for income tax represents the total of income taxes paid or payable for the current period, plus the change in deferred taxes. For the year ended December 31, 2014, current and deferred income tax expense of $1.5 million and $2.0 million, respectively, is classified within equity in earnings (losses) of unconsolidated ventures in the consolidated statement of operations. An additional deferred income tax expense of $1.9 million is recorded in unrealized gain (loss) on investments and other in the consolidated statements of operations related to deferred taxes on the unrealized gain related to PE Investment I. As of December 31, 2014, current and deferred income taxes payable of $1.4 million and $4.9 million, respectively, are classified within accounts payable and accrued expenses on the consolidated balance sheets.
Recent Accounting Pronouncements
In May 2014, the FASB issued an accounting update requiring a company to recognize as revenue the amount of consideration it expects to be entitled to in connection with the transfer of promised goods or services to customers.  When it becomes effective on January 1, 2017, the accounting standard update will replace most of the existing revenue recognition guidance currently promulgated by U.S. GAAP.  The Company is in the process of evaluating the impact, if any, of the update on its consolidated financial statements and related disclosures.
In February 2015, the FASB issued updated guidance that changes the rules regarding consolidation. The pronouncement eliminates specialized guidance for limited partnerships and similar legal entities and removes the indefinite deferral for certain investment funds. The new guidance is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, with early adoption permitted. The Company is currently assessing the impact of the guidance on its consolidated financial position, results of operations and financial statement disclosures.

Real_Estate_Debt_Investments

Real Estate Debt Investments	12 Months Ended
	Dec. 31, 2014
Mortgage Loans on Real Estate, Commercial and Consumer, Net, (Investment Based Operations Presentation) [Abstract]
Real Estate Debt Investments	Real Estate Debt Investments
	The following table presents CRE debt investments, as of December 31, 2014 (dollars in thousands):
												Weighted Average						Floating
																		Rate as
																		% of
																		Principal
	Asset Type:	Number		Principal				Carrying		Allocation by Investment Type (3)		Fixed		Spread		Total Unleveraged		Amount
				Amount (1)				Value (2)				Rate		over		Current
														LIBOR (4)		Yield
	First mortgage loans	22		$	1,123,192			$	1,092,958	81.2	%	—	%	6.16	%	6.19	%	100	%
	Mezzanine loans	6		149,669				123,011		10.8	%	10.1	%	13.95	%	13.66	%	92	%
	Subordinate interests	1		33,250				33,250		2.4	%	13.11	%	—	%	13.24	%	—	%
	Preferred equity interests (5)	1		78,044				78,706		5.6	%	10	%	—	%	10	%	—	%
	Total/Weighted average	30		$	1,384,155			$	1,327,925	100	%	10.85	%	6.55	%	7.28	%	91.1	%
	__________________________________________________________
	-1	Includes future funding commitments of $59.3 million.
	-2	Certain CRE debt investments serve as collateral for financing transactions including carrying value of $632.8 million for Securitization Financing Transactions (including $0.8 million of cash pending investment) and $385.7 million for Term Loan Facilities (refer to Note 7). The remainder is unleveraged.
	-3	Based on principal amount.
	-4	Includes a fixed minimum LIBOR rate (“LIBOR floor”), as applicable. As of December 31, 2014, the Company had $1,027.6 million principal amount of floating-rate loans subject to a weighted average LIBOR floor of 0.66%.
	-5	Represents a preferred equity interest originated through a joint venture with affiliates of RXR Realty LLC (“RXR”). The Company’s proportionate interest of the loan is 90%, representing $70.9 million of the carrying value. The Company consolidates the loan and records RXR’s investment as a non-controlling interest.
	For the year ended December 31, 2014, the Company originated nine loans with an aggregate principal amount of $564.4 million, including the Company’s proportionate interest of loans owned through joint ventures, including future funding commitments (refer to Note 5).
	The following table presents CRE debt investments, as of December 31, 2013 (dollars in thousands):
												Weighted Average						Floating
																		Rate as
																		% of
																		Principal
	Asset Type:	Number		Principal				Carrying		Allocation by Investment Type (4)		Fixed		Spread		Total Unleveraged		Amount
				Amount (1)				Value (2)(3)				Rate		Over		Current
														LIBOR (5)		Yield
	First mortgage loans	30		$	973,380			$	957,427	85.7	%	12.96	%	7.36	%	7.72	%	94.8	%
	Mezzanine loans	2		128,693				101,596		11.4	%	—	%	13.49	%	13.61	%	100	%
	Subordinate interests	1		33,250				33,250		2.9	%	13.11	%	—	%	13.24	%	—	%
	Total/Weighted average	33		$	1,135,323			$	1,092,273	100	%	13.02	%	7.97	%	8.43	%	92.4	%
	__________________________________________________________
	-1	Includes future funding commitments of $44.6 million and a $17.5 million mezzanine loan participation classified as held for sale.
	-2	Certain CRE debt investments serve as collateral for financing transactions including carrying value of $711.5 million for Securitization Financing Transactions (including $42.6 million of cash pending investment) and $30.9 million for Term Loan Facilities (refer to Note 7). The remainder is unleveraged.
	-3	Includes a $17.5 million mezzanine loan participation classified as held for sale.
	-4	Based on principal amount.
	-5	Includes a LIBOR floor. As of December 31, 2013, the Company had $898.2 million principal amount of floating-rate loans subject to a weighted average LIBOR floor of 1.07%.
	The following table presents maturities of CRE debt investments based on principal amount as of December 31, 2014 (dollars in thousands):
		Initial				Maturity
		Maturity				Including
						Extensions (1)
	Years Ending December 31:
	2015	$	345,100			$	—
	2016	323,600				68,000
	2017	330,776				287,100
	2018	—				413,600
	2019	162,150				242,776
	Thereafter	222,529				372,679
	Total	$	1,384,155			$	1,384,155
	__________________________________________________________
	-1	Assumes that all debt with extension options will qualify for extension at such maturity according to the conditions set forth in the governing documents.
	As of December 31, 2014, the weighted average maturity, including extensions, of CRE debt investments was 4.3 years.
	Credit Quality Monitoring
	CRE debt investments are typically loans secured by direct senior priority liens on real estate properties or by interests in entities that directly own real estate properties, which serve as the primary source of cash for the payment of principal and interest. The Company evaluates its debt investments at least quarterly and differentiates the relative credit quality principally based on: (i) whether the borrower is currently paying contractual debt service in accordance with its contractual terms; and (ii) whether the Company believes the borrower will be able to perform under its contractual terms in the future, as well as the Company’s expectations as to the ultimate recovery of principal at maturity. The Company categorizes a debt investment for which it expects to receive full payment of contractual principal and interest payments as “performing.” The Company will categorize a weaker credit quality debt investment that is currently performing, but for which it believes future collection of all or some portion of principal and interest is in doubt, into a category called “performing with a loan loss reserve.” The Company will categorize a weaker credit quality debt investment that is not performing, which the Company defines as a loan in maturity default and/or past due at least 90 days on its contractual debt service payments, as a non-performing loan (“NPL”). The Company’s definition of an NPL may differ from that of other companies that track NPLs.
	As of December 31, 2014, the Company had one CRE debt investment that was not performing in accordance with the contractual terms. The Company is in the process of taking title to property collateralizing this debt investment and believes the collateral value is in excess of its carrying value. For the year ended December 31, 2014, no CRE debt investment contributed more than 10% of interest income.

Operating_Real_Estate

Operating Real Estate	12 Months Ended
	Dec. 31, 2014
Real Estate [Abstract]
Operating Real Estate	Operating Real Estate
	The following table presents operating real estate, net as of December 31, 2014 and 2013 (dollars in thousands):
			December 31,
			2014				2013
	Land and improvements		$	43,504			$	12,018
	Buildings and improvements		365,439				112,409
	Furniture, fixtures and equipment		1,304				1,244
	Subtotal		410,247				125,671
	Less: Accumulated depreciation		(6,900		)		(503		)
	Operating real estate, net		$	403,347			$	125,168
	Real Estate Acquisitions
	The following table summarizes the Company’s real estate acquisitions for the year ended December 31, 2014 (dollars in thousands):
	Description		Purchase Price (1)				Properties		Units	State	Financing		Equity		Ownership Interest	Transaction Costs
	Student Housing 2		$	20,385			1		590 beds	SC	$	12,933	$	5,643	80.00%	$	324
	Student Housing 3		24,319				1		700 beds	SC	16,200		6,067		80.00%	378
	Office 1		149,352				7		884,833 sq ft	MO	108,850		34,852		95.00%	954
	Office 2		103,426				5		554,474 sq ft	PA	77,700		22,896		89.00%	952
			$	297,482			14				$	215,683	$	69,458		$	2,608
	____________________________________________________________
	-1	Includes all deferred costs, escrows and reserves.
	The following table presents unaudited consolidated pro forma results of operations based on the Company’s historical financial statements and adjusted for the acquisitions during the year ended December 31, 2014 that were significant in the aggregate, as if it occurred on January 1, 2013. The unaudited pro forma amounts were prepared for comparative purposes only and are not indicative of what actual consolidated results of operations of the Company would have been, nor are they indicative of the consolidated results of operations in the future and exclude transaction costs (dollars in thousands, expect per share):
		Years Ended December 31,
		2014				2013
	Pro forma total revenues	$	158,931			$	116,868
	Pro forma net income (loss) attributable to NorthStar Real Estate Income Trust, Inc. common stockholders	96,662				74,432
	Pro forma net income (loss) per share of common stock, basic/diluted	$	0.83			$	0.76
	The Company estimated the fair value of the assets and liabilities for all real estate acquired at the date of acquisition. The following table presents the preliminary allocation of purchase price of the operating real estate assets acquired and liabilities assumed or issued (including financing entered into contemporaneous with the acquisition) for acquisitions in 2014 that continue to be subject to refinement upon receipt of all information (dollars in thousands):
	Assets:
	Land and improvements		$	31,486
	Buildings and improvements		246,233
	Other assets acquired (1)		19,763
	Total assets acquired		$	297,482
	Liabilities:
	Mortgage notes payable		$	215,683
	Other liabilities assumed (2)		4,750
	Total liabilities		220,433
	Total NorthStar Real Estate Income Trust, Inc. stockholders’ equity		69,458
	Non-controlling interests		7,591
	Total equity		77,049
	Total liabilities and equity		$	297,482
	____________________________________________________________
	-1	Primarily includes deferred costs, escrows and reserves, as applicable.
	-2	Primarily includes prepaid rent and accrued expenses.
	The following table presents the final allocation of the purchase price of the assets acquired and liabilities issued for the Company’s properties acquired in 2013 (dollars in thousands):
	Assets:
	Land and improvements		$	12,018
	Buildings and improvements		112,238
	Other assets acquired (1)		13,268
	Total assets acquired		$	137,524
	Liabilities:
	Mortgage notes payable		$	102,500
	Other liabilities assumed (2)		871
	Total liabilities		103,371
	Total NorthStar Real Estate Income Trust, Inc. stockholders’ equity		29,361
	Non-controlling interests		4,792
	Total equity		34,153
	Total liabilities and equity		$	137,524
	____________________________________________________________
	-1	Primarily includes escrow amounts, as applicable.
	-2	Primarily includes prepaid rent and accrued expenses.

Investments_in_Unconsolidated_

Investments in Unconsolidated Ventures	12 Months Ended
	Dec. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Ventures	Investments in Unconsolidated Ventures
	Investments in Private Equity Funds
	The following is a description of investments in private equity funds that own PE Investments indirectly through unconsolidated ventures (“PE Investment I”) and (“PE Investment II”). The Company elected the fair value option for PE Investments. As a result, the Company records equity in earnings (losses) based on the change in fair value for its share of the projected future cash flow from one period to another. Both PE Investments are considered voting interest entities and are not consolidated by the Company due to the substantive participating rights of the partners in joint ventures that own the interests in the real estate private equity funds.
	Summary
	The following tables summarize the Company’s PE Investments as of December 31, 2014 (dollars in millions):
	PE Investment		Initial Closing Date		NAV Reference Date (1)	Number of Funds		Purchase Price			Expected Future Contributions (2)
	PE Investment I		15-Feb-13		30-Jun-12	49		$	118		$	3
	PE Investment II		3-Jul-13		30-Sep-12	24		75.7			1
	Total					73		$	193.7		$	4
	____________________________________________________________
	-1	Represents the net asset value (“NAV”) date on which the Company agreed to acquire the respective PE Investment.
	-2	Represents the estimated amount of expected future contributions to funds as of December 31, 2014.
			Carrying Value						Year Ended December 31, 2014							Year Ended December 31, 2013 (2)
	PE Investment		December 31, 2014			December 31, 2013			Equity in Earnings (1)			Cash Distributions		Cash Contributions		Equity in Earnings		Cash Distributions		Cash Contributions
	PE Investment I (3)		$	91.5		$	94.7		$	21.4		$	40.6	$	0.5	$	22.5	$	54.5	$	8.7
	PE Investment II		49.6			61.9			11.4			24.9		1.3		6.2		22.5		2.5
	Total		$	141.1		$	156.6		$	32.8		$	65.5	$	1.8	$	28.7	$	77	$	11.2
	____________________________________________________________
	-1	Includes $3.9 million in deferred income taxes.
	-2	The year ended December 31, 2013 represents activity from February 15, 2013 for PE Investment I and July 3, 2013 for PE Investment II.
	-3	For the year ended December 31, 2014, the Company recorded an unrealized gain of $11.8 million, net of $1.9 million deferred taxes related to PE Investment I.
	PE Investment I
	In February 2013, the Company completed the initial closing (“PE I Initial Closing”) of PE Investment I which through a preferred investment owns a portfolio of limited partnership interests in real estate private equity funds managed by institutional-quality sponsors. Pursuant to the terms of the agreement, at the PE I Initial Closing, the full purchase price was funded, excluding future capital commitments. Accordingly, the Company funded $118.0 million and NorthStar Realty (together with the Company, the “NorthStar Entities”) funded $282.1 million. The NorthStar Entities have an aggregate ownership interest in PE Investment I of 51.0%, of which the Company owns 29.5% and NorthStar Realty owns 70.5%. Teachers Insurance and Annuity Association of America (the “Class B Partner”) contributed its interests in 49 funds subject to the transaction in exchange for all of the Class B partnership interests in PE Investment I.
	PE Investment I provides for all cash distributions on a priority basis to the NorthStar Entities as follows: (i) first, 85.0% to the NorthStar Entities and 15.0% to the Class B Partner until the NorthStar Entities receive a 1.5x multiple on all of their invested capital, including amounts funded in connection with future capital commitments; (ii) second, 15.0% to the NorthStar Entities and 85.0% to the Class B Partner until the Class B Partner receives a return of its then remaining June 30, 2012 capital; and (iii) third, 51.0% to the NorthStar Entities and 49.0% to the Class B Partner. All amounts paid to and received by the NorthStar Entities are based on each partner’s proportionate interest.
	PE Investment II
	In June 2013, the Company, NorthStar Realty and funds managed by Goldman Sachs Asset Management (“Vintage Funds”) (each a “Partner”) formed joint ventures and entered into an agreement with Common Pension Fund E, a common trust fund created under New Jersey law (“PE II Seller”), to acquire a portfolio of limited partnership interests in 24 real estate private equity funds managed by institutional-quality sponsors. The aggregate reported NAV acquired was $910.0 million as of September 30, 2012. The Company, NorthStar Realty and the Vintage Funds each have an ownership interest in PE Investment II of 15.0%, 70.0% and 15.0%, respectively. All amounts paid and received are based on each Partner’s proportionate interest.
	PE Investment II paid $504.8 million to PE II Seller for all of the fund interests, or 55.0% of the September 30, 2012 NAV (the “Initial Amount”), and will pay the remaining $411.4 million, or 45.0% of the September 30, 2012 NAV (the “Deferred Amount”), by the last day of the fiscal quarter after the four year anniversary following the closing date of each fund interest. The Company funded all of its proportionate share of the Initial Amount at the initial closing (“PE II Initial Closing”) on July 3, 2013. For the year ended December 31, 2014, PE Investment II paid $2.4 million of the Deferred Amount to PE II Seller of which the Company’s share was $0.4 million. As of December 31, 2014, the Company’s share of the Deferred Amount is $61.3 million. The Deferred Amount is a liability of PE Investment II. Each Partner, directly or indirectly, guaranteed its proportionate interest of the Deferred Amount. The Company determined there was an immaterial amount of fair value related to the guarantee.
	On March 31st of each year, commencing on March 31, 2015 and for a period of two years thereafter, PE Investment II will pay an amount necessary to reduce the Deferred Amount by the greater of 15.0% of the then outstanding Deferred Amount or 15.0% of the aggregate distributions received by PE Investment II during the preceding 12 month period. The Company’s share of the Deferred Amount due on March 31, 2015 is $9.2 million.
	On the first full calendar quarter after the four-year anniversary of the applicable closing date of each fund interest, PE Investment II will be required to pay to PE II Seller the then outstanding unpaid Deferred Amount. PE Investment II will receive 100% of all distributions following the payment of the Deferred Amount.
	Other
	In June 2014, the Company entered into a joint venture with affiliates of RXR to originate a mezzanine loan. The mezzanine loan had a principal amount of $183.7 million, including future funding commitments. The joint venture owns 50% of the mezzanine loan, of which the Company’s interest in the joint venture is 78.0%. As of December 31, 2014, the carrying value of the investment was $54.8 million. For the year ended December 31, 2014, the Company recognized $2.8 million of equity in earnings.
	In April 2013, in connection with a loan on a hotel property in New York, the Company and NorthStar Realty acquired an aggregate 35.0% interest in the Row NYC (formerly the Milford) hotel and retail component, of which the Company owns 35.0% and NorthStar Realty owned 65.0%. There was no carrying value as of December 31, 2014 and 2013. In March 2014, the retail component of the hotel was sold and for the year ended December 31, 2014, the Company recognized a $0.6 million gain from this sale in equity in earnings.

Real_Estate_Securities_Availab

Real Estate Securities, Available for Sale	12 Months Ended
	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Real Estate Securities, Available for Sale	Real Estate Securities, Available for Sale
	CRE securities are comprised of CMBS backed by a pool of CRE loans which are typically well-diversified by type and geography. The following table presents CMBS investments (dollars in thousands):
														Weighted Average
			Principal		Amortized		Cumulative Unrealized					Fair				Unleveraged
			Amount (1)		Cost		on Investments					Value				Current
	As of Date:	Number					Gain		(Loss)					Coupon (2)		Yield
	December 31, 2014	7	$	100,542	$	51,222	$	29,264	$	(850	)	$	79,636	4.63	%	9.4	%
	December 31, 2013	8	104,542		53,406		13,373		(329		)	66,450		4.53	%	9.07	%
	_______________________________________________________________
	-1	Certain CRE securities serve as collateral for financing transactions including carrying value of $17.3 million for the CMBS Facilities (refer to Note 7). The remainder is unleveraged.
	-2	All CMBS are fixed rate.
	The Company recorded unrealized gains (losses) in OCI for the years ended December 31, 2014, 2013 and 2012 of $15.4 million, $12.6 million and $0.4 million, respectively. As of December 31, 2014, the Company held two securities with an aggregate carrying value of $17.3 million with an unrealized loss of $0.9 million, both of which were in an unrealized loss position for a period of more than 12 months. Based on management’s quarterly evaluation, no OTTI was identified related to these securities. The Company does not intend to sell these securities and it is more likely than not that the Company will not be required to sell these securities prior to recovery of its amortized cost basis, which may be at maturity.
	In December 2014, the Company sold one security for $4.0 million and recorded a realized gain of $0.6 million.
	As of December 31, 2014, the weighted average contractual maturity of CRE securities was 33 years with an expected maturity of 6.8 years.

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
Borrowings	Borrowings
	The following table presents borrowings as of December 31, 2014 and 2013 (dollars in thousands):
							December 31, 2014								December 31, 2013
		Recourse vs. Non-Recourse		Final	Contractual		Principal				Carrying				Principal		Carrying
				Maturity	Interest Rate (1)		Amount				Value				Amount		Value
	Securitization bonds payable
	Securitization 2013-1	Non-recourse		29-Aug	LIBOR + 2.72%		$	367,363			$	367,011			$	382,700	$	382,250
	Securitization 2012-1	Non-recourse		29-Aug	LIBOR + 2.43%		46,522				46,499				124,659		124,679
	Subtotal securitization bonds payable						413,885				413,510				507,359		506,929
	Mortgage notes payable
	Multifamily 1	Non-recourse		23-Dec	4.84%		43,500				43,500				43,500		43,500
	Multifamily 2	Non-recourse		23-Dec	4.94%		43,000				43,000				43,000		43,000
	Office 1	Non-recourse		24-Oct	4.47%		108,850				108,850				—		—
	Office 2	Non-recourse		25-Jan	4.30%		77,700				77,700				—		—
	Student housing 1	Non-recourse		24-Jan	5.15%		16,000				16,000				16,000		16,000
	Student housing 2 (2)	Non-recourse		20-Dec	5.27%		12,812				12,812				—		—
	Student housing 3	Non-recourse		16-Nov	5.84%		16,200				16,200				—		—
	Subtotal mortgage notes payable						318,062				318,062				102,500		102,500
	Credit facilities
	Loan Facility 2	Partial Recourse (3)		Oct-19 (4)	2.70% (5)		85,100				85,100				—		—
	Loan Facility 3	Non-recourse		Jul-18 (6)	N/A (7)		—				—				16,638		16,638
	Loan Facility 4	Partial Recourse (8)		Mar-18 (9)	2.70% (10)		172,698				172,698				—		—
	CMBS Facilities	Recourse		-11	1.42%		11,685				11,685				11,685		11,685
	Subtotal credit facilities						269,483				269,483				28,323		28,323
	Grand Total						$	1,001,430			$	1,001,055			$	638,182	$	637,752
	_____________________________________________________
	-1	Represents the weighted average as of December 31, 2014.
	-2	Represents two separate senior mortgage notes with a weighted average maturity of December 1, 2020 and weighted average interest rate of 5.27%.
	-3	Recourse solely with respect to 25.0% of the repurchase price for purchased assets with a lender debt yield equal to or greater than 10% at the time of financing plus 100% of the repurchase price for purchased assets with a lender debt yield less than 10% at the time of financing.
	-4	The next maturity date is October 18, 2016, with three, one-year extensions available at the option of the Company, which may be exercised upon the satisfaction of certain customary conditions set forth in the governing documents.
	-5	The contractual interest rate depends upon asset type and characteristic and ranges from one-month LIBOR plus 2.0% to 4.0%. The Company entered into this facility in the third quarter 2012.
	-6	The initial maturity date is July 30, 2015, with three, one-year extensions available at the option of the Company, which may be exercised upon the satisfaction of certain customary conditions set forth in the governing documents.
	-7	The contractual interest rate depends upon asset type and characteristic and ranges from one-month LIBOR plus 3.95% to 5.95%.
	-8	Recourse solely with respect to the greater of: (i) 25.0% of the financed amount of stabilized loans plus the financed amount of transitional loans; or (ii) the lesser of $25.0 million or the aggregate financed amount of all loans.
	-9	The next maturity date is March 11, 2016, with two, one-year extensions available at the option of the Company, which may be exercised upon the satisfaction of certain customary conditions set forth in the governing documents.
	-10	The contractual interest rate depends upon asset type and characteristics and ranges from one-month LIBOR plus 2.5% to 3.0%. The Company entered into this facility in the first quarter 2013.
	-11	The maturity dates on the CMBS Facilities are dependent upon asset type and will typically range from two to three months.
	The following table presents scheduled principal on borrowings, based on fully extended maturity as of December 31, 2014 (dollars in thousands):
		Total			Securitization				Mortgage Notes Payable				Credit
					Bonds Payable								Facilities
	Years Ending December 31:
	2015	$	11,685		$	—			$	—			$	11,685
	2016	16,200			—				16,200				—
	2017	—			—				—				—
	2018	172,698			—				—				172,698
	2019	—			—				—				—
	Thereafter	800,847			413,885				301,862				85,100
	Total	$	1,001,430		$	413,885			$	318,062			$	269,483
	Securitization Financing Transactions
	The Company entered into two securitization financing transactions collectively referred to as Securitization Financing Transactions, collateralized by CRE debt investments originated by the Company and NorthStar Realty.
	Securitization 2013-1
	In August 2013, the Company entered into a $531.5 million securitization financing transaction (“Securitization 2013-1”). The Company initially contributed eight CRE debt investments with a $346.1 million aggregate principal amount. Subsequent to the closing of Securitization 2013-1, the Company contributed four additional CRE debt investments with a $105.5 million aggregate principal amount. NorthStar Realty transferred three senior loans with an aggregate principal amount of $79.1 million at cost to Securitization 2013-1. NorthStar Realty did not retain any interest in such senior loans. A total of $382.7 million of permanent, non-recourse, non-mark-to-market investment-grade securitization bonds were issued, representing an advance rate of 72.0% with a current weighted average coupon of LIBOR plus 2.72%. The Company retained all of the below investment-grade securitization bonds, which the Company refers to as the Company’s retained equity interest in Securitization 2013-1. The Company used the proceeds to repay $222.7 million of borrowings on its term loan facilities. The collateral is used to service the interest payments on the investment-grade securitization bonds and the Company receives the excess cash flow on its retained equity interest. Securitization 2013-1 is considered a voting interest entity and since the Company has all of the controlling financial interest in Securitization 2013-1, the entity is consolidated by the Company.
	Securitization 2012-1
	In November 2012, the Company entered into a $351.4 million securitization financing transaction (“Securitization 2012-1”) collateralized by CRE debt investments originated by the Company and NorthStar Realty. The Company contributed nine CRE debt investments with a $199.2 million aggregate principal amount and retained an equity interest of $70.0 million. A total of $227.5 million of permanent, non-recourse, non-mark-to-market investment-grade securitization bonds were issued, of which $129.5 million financed the CRE debt investments contributed by the Company, representing an advance rate of 65.0% with a current weighted average coupon of LIBOR plus 2.10%. The Company used the proceeds to repay $117.7 million of borrowings on its term loan facilities.
	The retained equity interests of the Company and NorthStar Realty are held by a general partnership and both the Company and NorthStar Realty are the general partners (“Financing JV”). The Company evaluated both Securitization 2012-1 and the Financing JV under the VIE model and concluded that both entities were considered voting interest entities. The Company first determined that the retained equity interests and the issued senior beneficial interests represented variable interests in Securitization 2012-1. The Company then determined that the entities were not VIEs as the equity investors have the characteristics of a controlling financial interest and there is sufficient equity at risk for the entities to finance their activities without additional subordinated financial support from other parties. The power to direct the activities most significant to economic performance is through the special servicer who has the ability to manage the assets that are delinquent or in default. The investment grade bondholders have no control rights. Voting rights in both entities are in proportion to the economic interests. The retained equity interests in Securitization 2012-1 appoint the special servicer, providing the power to the equity investment at risk via voting rights held by the Financing JV. Furthermore, each of the partners retained the economic interests in its own loans as if the loans have been securitized on a stand-alone basis. All distributions on the retained equity interests occur after the third party bonds have received their contractual principal and interest payments. Shortfalls are borne by the retained interests and any losses will be absorbed first by the respective owner of such loans. Based on the preceding analysis, the Company concluded that the structures did not possess characteristics of a VIE and were voting interest entities.
	An affiliate of the Sponsor was appointed special servicer of Securitization 2012-1. NorthStar Realty is the designated member of the Financing JV. The entities are not consolidated due to the substantive participating and kick-out rights held by the Company. The transferred debt investments failed sale treatment under U.S. GAAP as the Company maintains effective control of its contributed assets. The Company records its respective CRE debt investments and securitization bonds payable on its consolidated balance sheets.
	Term Loan Facilities
	In February 2012, a subsidiary of the Company entered into a master repurchase and securities contract (“Loan Facility 1”) of $100.0 million to finance CRE first mortgage loans. In connection with Loan Facility 1, the Company, together with the Operating Partnership, entered into a guaranty agreement, under which the Company and the Operating Partnership guarantee certain of the obligations under Loan Facility 1. The Company terminated Loan Facility 1 in January 2014.
	In July 2012, a subsidiary of the Company entered into a master repurchase agreement (“Loan Facility 2”) of $50.0 million to finance first mortgage loans and senior loan participations secured by commercial real estate. Loan Facility 2 was increased to $100.0 million in November 2012 and to $150.0 million in April 2013. In connection with Loan Facility 2, the Company agreed to guarantee certain obligations under Loan Facility 2 if the Company or an affiliate of the Company engages in certain customary bad acts. Loan Facility 2 and related agreements contain representations, warranties, covenants, conditions precedent to funding, events of default and indemnities that are customary for agreements of this type. More specifically, the borrowing subsidiary of the Company must maintain at least $3.8 million and a maximum of $22.5 million in unrestricted cash, at all times during the term of Loan Facility 2.
	In July 2012, a subsidiary of the Company entered into a credit and security agreement (“Loan Facility 3”) of $40.0 million on a non-recourse basis, subject to certain exceptions, to finance first mortgage loans and senior loan participations secured by commercial real estate. In connection with Loan Facility 3, the Operating Partnership agreed to guarantee interest payments and the customary obligations under Loan Facility 3 if either the Company or its affiliates engage in certain customary bad acts. In addition, the Operating Partnership pledged its interests in the Company’s borrowing subsidiary as collateral. Loan Facility 3 and related agreements contain representations, warranties, covenants, conditions precedent to funding, events of default and indemnities that are customary for agreements of these types. More specifically, the Operating Partnership must maintain at least $3.8 million and as much as $7.5 million in unrestricted cash or other eligible investments at all times during the term of Loan Facility 3.
	In March 2013, a subsidiary of the Company entered into a master repurchase agreement (“Loan Facility 4”) of $200.0 million to finance first mortgage loans and senior interests secured by commercial real estate. In connection with Loan Facility 4, the Company and the Operating Partnership entered into a guaranty agreement under which the Company and the Operating Partnership guaranty certain of the obligations under Loan Facility 4. Loan Facility 4 and related agreements contain representations, warranties, covenants, conditions precedent to funding, events of default and indemnities that are customary for agreements of these types. More specifically, the Company must maintain at least $20.0 million in unrestricted cash or cash equivalents at all times during the term of Loan Facility 4. In addition, the Company has agreed to guarantee certain customary obligations under Loan Facility 4 if the Company or an affiliate of the Company engage in certain customary bad acts.
	As of December 31, 2014, the Company had $385.7 million carrying value of CRE debt investments, financed with $257.8 million under two term loan facilities. The loan facilities are collectively herein referred to as Term Loan Facilities.
	The Term Loan Facilities act as revolving loan facilities that can be paid down as assets are repaid or sold and re-drawn upon for new investments. As of December 31, 2014, the Company was in compliance with all of its financial covenants.
	CMBS Facilities
In September 2012, the Company entered into two master repurchase agreements (“CMBS Facilities”) to finance CMBS investments. The CMBS Facilities contain representations, warranties, covenants, conditions precedent to funding, events of default and indemnities that are customary for agreements of this type. As of December 31, 2014, the Company had $17.3 million carrying value of CRE securities, financed with $11.7 million under its CMBS Facilities.

Related_Party_Arrangements

Related Party Arrangements	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Related Party Arrangements	Related Party Arrangements
	Advisor
	In connection with the completion of NorthStar Realty’s spin-off of its asset management business into the Sponsor, on June 30, 2014, the Company entered into a new advisory agreement with the Advisor, an affiliate of the Sponsor, on terms substantially similar to those set forth in the prior advisory agreement, and terminated the advisory agreement with the Prior Advisor. For periods prior to June 30, 2014, the information below regarding fees and reimbursements incurred and accrued but not yet paid relates to the Prior Advisor.
	Subject to certain restrictions and limitations, the Advisor is responsible for managing the Company’s affairs on a day-to-day basis and for identifying, originating, acquiring and asset managing investments on behalf of the Company. The Advisor may delegate certain of its obligations to affiliated entities, which may be organized under the laws of the United States or foreign jurisdictions. References to the Advisor include the Advisor and any such affiliated entities. For such services, to the extent permitted by law and regulations, the Advisor receives fees and reimbursements from the Company. Below is a description and table of the fees and reimbursements incurred to the Advisor.
	Fees to Advisor
	Asset Management Fee
	The Advisor, or its affiliates, receives a monthly asset management fee equal to one-twelfth of 1.25% of the sum of the amount funded or allocated for CRE investments, including expenses and any financing attributable to such investments, less any principal received on debt and securities investments (or the proportionate share thereof in the case of an investment made through a joint venture).
	Acquisition Fee
	The Advisor, or its affiliates, also receives an acquisition fee equal to 1.0% of the amount funded or allocated by the Company to originate or acquire investments, including acquisition expenses and any financing attributable to such investments (or the proportionate share thereof in the case of an investment made through a joint venture). An acquisition fee paid to the Advisor related to the origination or acquisition of CRE debt investments is included in CRE debt investments, net on the consolidated balance sheets and is amortized to interest income over the life of the investment using the effective interest method. An acquisition fee incurred related to an equity investment will generally be expensed as incurred.
	Disposition Fee
	For substantial assistance in connection with the sale of investments and based on the services provided, the Advisor, or its affiliates, receives a disposition fee equal to 1.0% of the contract sales price of each CRE investment sold. The Company does not pay a disposition fee upon the maturity, prepayment, workout, modification or extension of a CRE debt investment unless there is a corresponding fee paid by the borrower, in which case the disposition fee is the lesser of: (i) 1.0% of the principal amount of the CRE debt investment prior to such transaction; or (ii) the amount of the fee paid by the borrower in connection with such transaction. If the Company takes ownership of a property as a result of a workout or foreclosure of a CRE debt investment, the Company will pay a disposition fee upon the sale of such property. A disposition fee from the sale of an investment is generally expensed and included in asset management and other fees - related party in the Company’s consolidated statements of operations. A disposition fee for a CRE debt investment incurred in a transaction other than a sale is included in CRE debt investments, net on the consolidated balance sheets and is amortized to interest income over the life of the investment using the effective interest method.
	Reimbursements to Advisor
	Operating Costs
	The Advisor, or its affiliates, is entitled to receive reimbursement for direct and indirect operating costs incurred by the Advisor in connection with administrative services provided to the Company. Indirect operating costs include the Company’s allocable share of costs incurred by the Advisor for personnel and other overhead such as rent, technology and utilities. However, there is no reimbursement for personnel costs related to executive officers and other personnel involved in activities for which the Advisor receives an acquisition fee or a disposition fee. The Company reimburses the Advisor quarterly for operating costs (including the asset management fee) based on a calculation for the four preceding fiscal quarters not to exceed the greater of: (i) 2.0% of its average invested assets; or (ii) 25.0% of its net income determined without reduction for any additions to reserves for depreciation, loan losses or other similar non-cash reserves and excluding any gain from the sale of assets for that period. Notwithstanding the above, the Company may reimburse the Advisor for expenses in excess of this limitation if a majority of the Company’s independent directors determines that such excess expenses are justified based on unusual and non-recurring factors. The Company calculates the expense reimbursement quarterly based upon the trailing twelve-month period.
	Organization and Offering Costs
	The Prior Advisor, or its affiliates, was entitled to receive reimbursement for organization and offering costs paid on behalf of the Company in connection with the Offering. The Company was obligated to reimburse the Prior Advisor, or its affiliates, as applicable, for organization and offering costs to the extent the aggregate of selling commissions, dealer manager fees and other organization and offering costs did not exceed 15.0% of gross proceeds from the Primary Offering. The Prior Advisor initially expected cumulative organization and offering costs, excluding selling commissions and dealer manager fees, would not exceed $15.0 million, or 1.5% of the proceeds expected to be raised from the Total Primary Offering. Based on gross proceeds raised of $1,072.9 million from the Total Primary Offering, the Company incurred reimbursable organization and offering costs, excluding selling commissions and dealer manager fees, of 1.0%, which was less than the 1.5% expected. The Company’s independent directors did not determine that any of the organization and offering costs were unfair or commercially unreasonable. Total underwriting compensation through the completion of the Total Primary Offering, including selling commissions, the dealer manager fee and amounts reimbursed to participating broker-dealers and investment advisors, did not exceed the 10.0% of gross Total Primary Offering proceeds limitation prescribed by the Financial Industry Regulatory Authority, Inc.
	Dealer Manager
	Selling Commissions and Dealer Manager Fees
	Pursuant to the dealer manager agreement, the Company paid NorthStar Realty Securities, LLC (the “Dealer Manager”) selling commissions of up to 7.0% of gross proceeds from the Total Primary Offering, all of which were reallowed to participating broker-dealers. In addition, the Company paid the Dealer Manager a dealer manager fee of up to 3.0% of gross proceeds from the Total Primary Offering, a portion of which was reallowed to participating broker-dealers and paid to certain employees of the Dealer Manager. No selling commissions or dealer manager fees are paid for sales pursuant to the DRP.
	Summary of Fees and Reimbursements
	The following table presents the fees and reimbursements incurred to the Advisor for the years ended December 31, 2014, 2013 and 2012 and the amount due to related party as of December 31, 2014 and 2013 (dollars in thousands):
				Years Ended December 31,						Due to Related Party as of December 31,
	Type of Fee or Reimbursement (1)		Financial Statement Location	2014		2013		2012		2014		2013
	Fees to Advisor
	Asset management		Asset management and other fees- related party	$	21,969	$	13,600	$	3,360	$	—	$	1,607
	Acquisition (2)		Real estate debt investments, net / Asset management and other fees- related party	8,176		10,194		4,753		—		—
	Disposition (2)		Real estate debt investments, net / Asset management and other fees- related party	2,456		1,178		24		—		10
	Reimbursements to Advisor
	Operating costs		General and administrative expenses	11,507		7,786		2,397		—		1,459
	Organization		General and administrative expenses	—		62		470		—		—
	Offering		Cost of capital	—		2,989		5,564		—		—
	Total									$	—	$	3,076
	___________________________________
	-1	The Company incurred selling commissions / dealer manager fees of $49.5 million and $42.4 million for the years ended December 31, 2013 and 2012, respectively. These costs are recorded as cost of capital and are included in net proceeds from issuance of common stock in the Company’s consolidated statements of equity.
	-2	Acquisition/disposition fees incurred to the Advisor related to CRE debt investments are generally offset by origination/exit fees paid to the Company by borrowers if such fees are required from the borrower. Acquisition fees related to equity investments are included in asset management and other fees - related party in the consolidated statements of operations. The Advisor may determine to defer fees or seek reimbursement. From inception through December 31, 2014, the Advisor deferred $0.5 million of acquisition fees and $0.4 million of disposition fees related to CRE securities.
	NorthStar Realty Purchase of Common Stock
	Pursuant to the Second Amended and Restated Distribution Support Agreement, as amended (the “Distribution Support Agreement”), NorthStar Realty committed to purchase up to an aggregate of $10.0 million in shares of the Company’s common stock at a price of $9.00 per share if cash distributions exceed modified funds from operations (as computed in accordance with the definition established by the Investment Program Association and adjusted for certain items) to provide additional funds to support distributions to stockholders. For the years ended December 31, 2014 and 2013, NorthStar Realty was not required to purchase shares in connection with the Distribution Support Agreement. For the year ended December 31, 2012, NorthStar Realty purchased 254,778 shares of the Company’s common stock for $2.3 million. From inception through the expiration of the Distribution Support Agreement, NorthStar Realty purchased 507,980 shares of the Company’s common stock for $4.6 million under such commitment.
	Securitization 2012-1
	The Company entered into an agreement with NorthStar Realty that provides that both the Company and NorthStar Realty receive the economic benefit and bear the economic risk associated with the investments the Company and NorthStar Realty each contributed into Securitization 2012-1. In both cases, the respective retained equity interest of the Company and NorthStar Realty is subordinate to interests of the investment-grade bondholders of Securitization 2012-1 and the investment-grade bondholders have no recourse to the general credit of the Company or NorthStar Realty. In the event that either the Company or NorthStar Realty suffer a complete loss of the retained equity interests in Securitization 2012-1, any additional losses would be borne by the remaining retained equity interests held by the Company or NorthStar Realty, as the case may be, prior to the investment-grade bondholders of Securitization 2012-1. An affiliate of the Sponsor was named special servicer for Securitization 2012-1.
	Securitization 2013-1
	In August 2013, the Company closed Securitization 2013-1. The Company initially contributed eight CRE debt investments with a $346.1 million aggregate principal amount. NorthStar Realty transferred three senior loans with an aggregate principal amount of $79.1 million at cost to Securitization 2013-1. NorthStar Realty did not retain any interest in such senior loans. An affiliate of the Sponsor was named special servicer of Securitization 2013-1.
	PE Investments
	In connection with PE Investments, the Company guaranteed all of its funding obligations that may be due and owed under the governing documents indirectly through an indemnification with NorthStar Realty, which in turn guaranteed the obligations directly to the PE Investment entities. The Company and NorthStar Realty each agreed to indemnify the other proportionately for any losses that may arise in connection with the funding and other obligations as set forth in the governing documents in the case of a joint default by the Company and NorthStar Realty. The Company and NorthStar Realty further agreed to indemnify each other for all of the losses that may arise as a result of a default that was solely caused by the Company or NorthStar Realty, as the case may be.
	PE Investment I
	In connection with PE Investment I, the Company assumed the rights to subscribe to 29.5% of PE Investment I from NorthStar Realty. The Company and NorthStar Realty contributed cash of $400.1 million, of which the Company and NorthStar Realty contributed $118.0 million and $282.1 million, respectively.

EquityBased_Compensation

Equity-Based Compensation	12 Months Ended
	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity-Based Compensation	Equity-Based Compensation
	The Company adopted a long-term incentive plan, as amended (the “Plan”), which it may use to attract and retain qualified officers, directors, employees and consultants, as well as an independent directors compensation plan, which is a component of the Plan. Pursuant to the Plan, as of December 31, 2014, the Company’s independent directors were granted a total of 51,000 shares of restricted common stock for an aggregate $510,000. The Company awarded 3,500 shares of restricted common stock to each of the independent directors for the years ended December 31, 2014 and 2013 and 2,500 shares of restricted common stock for the year ended December 31, 2012. The restricted stock granted prior to 2013 generally vests over four years and the restricted stock granted in 2013 and 2014 generally vests over two years. However, the stock will become fully vested on the earlier occurrence of: (i) the termination of the independent director’s service as a director due to his or her death or disability; or (ii) a change in control of the Company.
	The Company recognized equity-based compensation expense of $125,621, $93,618 and $60,140 for the years ended December 31, 2014, 2013 and 2012, respectively, related to the issuance of restricted stock to the independent directors, which was recorded in general and administrative expenses in the consolidated statements of operations.

Stockholders_Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2014
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity
	Common Stock
	The Company’s Total Primary Offering was completed on July 1, 2013. From inception through the completion of the Total Primary Offering, the Company issued 107.6 million shares of common stock generating gross proceeds from the Total Primary Offering of $1,072.9 million. For the years ended December 31, 2013 and 2012, the Company issued 51.5 million and 43.4 million shares of common stock, respectively, in connection with the Total Primary Offering, generating gross proceeds of $512.8 million and $433.0 million, respectively.
	Distribution Reinvestment Plan
	The Company adopted a DRP through which common stockholders may elect to reinvest an amount equal to the distributions declared on their shares in additional shares of the Company’s common stock in lieu of receiving cash distributions. The initial purchase price per share pursuant to the DRP was $9.50. On December 16, 2014, the Company announced that the board of directors, including all of its independent directors, approved and established an estimated value per share of the Company’s common stock. The estimated value per share is based upon the estimated value of the Company’s assets less the estimated value of the Company’s liabilities as of October 31, 2014 (the “Valuation Date”).
	Effective January 1, 2015, shares issued pursuant to the DRP will be priced at 95.0% of this estimated value per share, or $9.52. The Company expects that the next estimated value per share will be based upon assets and liabilities as of December 31, 2015.
	No selling commissions or dealer manager fees are paid on shares issued pursuant to the DRP. The board of directors of the Company may amend, suspend or terminate the DRP for any reason upon ten-days’ notice to participants.
	In April 2013, the board of directors of the Company authorized the reallocation of shares available pursuant to the DRP to the Primary Offering. On July 1, 2013, the Company completed the Total Primary Offering and all of the shares initially registered were issued. The Company continues to offer shares pursuant to the DRP beyond the Total Primary Offering. For the years ended December 31, 2014, 2013 and 2012, the Company issued 4.5 million, 3.4 million and 1.1 million shares, respectively, totaling $42.7 million, $32.6 million and $10.3 million of proceeds, respectively, pursuant to the DRP. From inception through December 31, 2014, the Company issued 9.2 million shares totaling $87.1 million of proceeds pursuant to the DRP.
	Distributions
	Distributions to stockholders are declared quarterly by the board of directors of the Company and are paid monthly based on a daily amount of $0.002191781 per share, which is equivalent to an annual distribution rate of 8.0%. Distributions are generally paid to stockholders on the first business day of the month following the month for which the distribution has accrued.
	The following table presents distributions declared for the years ended December 31, 2014, 2013 and 2012 (dollars in thousands):
		Distributions(1)
	Period	Cash		DRP		Total
	2014
	First Quarter	$	12,369	$	10,338	$	22,707
	Second Quarter	12,492		10,650		23,142
	Third Quarter	12,674		10,885		23,559
	Fourth Quarter	12,717		10,997		23,714
	Total	$	50,252	$	42,870	$	93,122
	2013
	First Quarter	$	7,728	$	5,736	$	13,464
	Second Quarter	10,694		8,170		18,864
	Third Quarter	12,644		10,213		22,857
	Fourth Quarter	12,678		10,359		23,037
	Total	$	43,744	$	34,478	$	78,222
	2012
	First Quarter	$	2,378	$	1,502	$	3,880
	Second Quarter	3,307		2,293		5,600
	Third Quarter	4,535		3,272		7,807
	Fourth Quarter	6,088		4,547		10,635
	Total	$	16,308	$	11,614	$	27,922
	_________________________________________________
	-1	Represents distributions declared for the period, even though such distributions are actually paid to stockholders the month following such period. For the year ended December 31, 2014, approximately 69% of distributions paid was ordinary income, 7% was capital gain income and 24% was a return of capital.
	Share Repurchase Program
	The Company adopted a share repurchase program that may enable stockholders to sell their shares to the Company in limited circumstances (the “Share Repurchase Program”). The Company may not repurchase shares unless a stockholder has held shares for one year. However, the Company may repurchase shares held less than one year in connection with a stockholder’s death or disability, if the disability is deemed qualifying by the board of directors of the Company in its sole discretion, and after receiving written notice from the stockholder or the stockholder’s estate. The Company is not obligated to repurchase shares under the Share Repurchase Program. For the year ended December 31, 2014, the Company repurchased 1.2 million shares of common stock for a total of $11.5 million at an average price of $9.61 per share. For the year ended December 31, 2013, the Company repurchased 593,226 shares of common stock for a total of $5.7 million at an average price of $9.60 per share. For the year ended December 31, 2012, the Company repurchased 141,503 shares of common stock for a total of $1.4 million at an average price of $9.69 per share.
	Effective January 1, 2015, the price paid for shares redeemed under the Share Repurchase Program will be $9.52 per share, which is approximately 95% of the estimated value per share as of the Valuation Date. The Company may amend, suspend or terminate the Share Repurchase Program at its discretion at any time, subject to certain notice requirements. As of December 31, 2014, there were no unfulfilled repurchase requests.

Noncontrolling_Interests

Non-controlling Interests	12 Months Ended
	Dec. 31, 2014
Noncontrolling Interest [Abstract]
Non-controlling Interests	Non-controlling Interests
	Operating Partnership
	Non-controlling interests include the aggregate limited partnership interests in the Operating Partnership held by limited partners, other than the Company. Income (loss) attributable to the non-controlling interests is based on the limited partners’ ownership percentage of the Operating Partnership. Income (loss) allocated to the Operating Partnership non-controlling interests for the years ended December 31, 2014, 2013 and 2012 was an immaterial amount.
	Other
	Other non-controlling interests represent third-party equity interests in ventures that are consolidated with the Company’s financial statements. Net income (loss) attributable to the other non-controlling interests for the years ended December 31, 2014 and 2013 was a loss of $0.2 million and $0.3 million, respectively. The Company did not have other non-controlling interests for the year ended December 31, 2012.

Fair_Value

Fair Value	12 Months Ended
	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Fair Value	Fair Value
	Fair Value Measurement
	The fair value of financial instruments is categorized based on the priority of the inputs to the valuation technique and categorized into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.
	Financial assets and liabilities recorded at fair value on the consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:
	Level 1.	Quoted prices for identical assets or liabilities in an active market.
	Level 2.	Financial assets and liabilities whose values are based on the following:
	a)	Quoted prices for similar assets or liabilities in active markets.
	b)	Quoted prices for identical or similar assets or liabilities in non-active markets.
	c)	Pricing models whose inputs are observable for substantially the full term of the asset or liability.
	d)	Pricing models whose inputs are derived principally from or corroborated by observable market data for substantially the full term of the asset or liability.
	Level 3.	Prices or valuation techniques based on inputs that are both unobservable and significant to the overall fair value measurement.
	Determination of Fair Value
	The following is a description of the valuation techniques used to measure fair value of assets accounted for at fair value on a recurring basis and the general classification of these instruments pursuant to the fair value hierarchy.
	Investments in Private Equity Funds
	The Company accounts for PE Investments at fair value which is determined based on a valuation model using assumptions for the timing and amount of expected future cash flow for income and realization events for the underlying assets in the funds and discount rate. This fair value measurement is generally based on unobservable inputs and, as such, is classified as Level 3 of the fair value hierarchy. The Company is not using the NAV (practical expedient) of the underlying funds for purposes of determining fair value.
	Real Estate Securities
	CRE securities are generally valued using a third-party pricing service or broker quotations. These quotations are not adjusted and are based on observable inputs that can be validated, and as such, are classified as Level 2 of the fair value hierarchy. Certain CRE securities may be valued based on a single broker quote or an internal price which may have less observable pricing, and as such, would be classified as Level 3 of the fair value hierarchy. Management determines the prices are representative of fair value through a review of available data, including observable inputs, recent transactions as well as its knowledge of and experience in the market.
	Fair Value Hierarchy
	Financial assets recorded at fair value on a recurring basis are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following table presents financial assets that were accounted for at fair value on a recurring basis as of December 31, 2014 and 2013 by level within the fair value hierarchy (dollars in thousands):
		December 31, 2014												December 31, 2013
		Level 1				Level 2			Level 3		Total			Level 1		Level 2		Level 3		Total
	Assets:
	Investments in private equity funds, at fair value	$	—			$	—		$	141,091	$	141,091		$	—	$	—	$	156,616	$	156,616
	Real estate securities, available for sale	—				79,636			—		79,636			—		66,450		—		66,450
	The following table presents additional information about PE Investments which are measured at fair value on a recurring basis as of December 31, 2014 and 2013 for which the Company has used Level 3 inputs to determine fair value (dollars in thousands):
		Years Ended December 31,
		2014				2013
	Beginning balance	$	156,616			$	—
	Purchases/contributions	1,766				204,924
	Distributions	(65,490		)		(76,973		)
	Equity in earnings (1)	34,549				28,665
	Unrealized gain (2)	13,650				—
	Ending balance	$	141,091			$	156,616
	__________________________________________________________
	(1) Excludes $1.8 million in current and deferred taxes.
	(2) Excludes $1.9 million in deferred taxes.
	For the year ended December 31, 2014, the Company used discounted cash flow models to quantify Level 3 fair value measurements on a recurring basis. The key unobservable inputs used in this analysis included discount rates ranging from 20% to 27% and includes timing and amount of expected future cash flow.
	As of December 31, 2014 and 2013, the Company had no financial assets and liabilities that were accounted for at fair value on a non-recurring basis.
	For the year ended December 31, 2014, the Company recorded an unrealized gain of $11.8 million for financial assets for which the fair value option was elected. For the year ended December 31, 2013, the Company did not recognize any unrealized gains (losses) for financial assets for which the fair value option was elected. These amounts, when incurred, are recorded as unrealized gain (loss) on investments and other in the consolidated statements of operations.
	Fair Value Option
	The Company has historically elected not to apply the fair value option for the financial assets and liabilities existing at the time of adoption or at the time the Company recognizes the eligible item for the purpose of consistent accounting application. The Company may elect the fair value option for certain of its financial assets or liabilities due to the nature of the instrument. In the case of PE Investments, the Company elected the fair value option because management believes it is a more useful presentation for such investments. The Company determined recording the PE Investments based on the change in fair value of projected future cash flow from one period to another better represents the underlying economics of the respective investment.
	Fair Value of Financial Instruments
	In addition to the above disclosures regarding financial assets or liabilities which are recorded at fair value, U.S. GAAP requires disclosure of fair value about all financial instruments. The following disclosure of estimated fair value of financial instruments was determined by the Company using available market information and appropriate valuation methodologies. Considerable judgment is necessary to interpret market data and develop estimated fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize on disposition of the financial instruments. The use of different market assumptions and/or estimation methodologies may have a material effect on estimated fair value.
	The following table presents the principal amount, carrying value and fair value of certain financial assets and liabilities as of December 31, 2014 and 2013 (dollars in thousands):
		December 31, 2014									December 31, 2013
		Principal				Carrying			Fair		Principal			Carrying		Fair
		Amount				Value			Value		Amount			Value		Value
	Financial assets: (1)
	Real estate debt investments, net	$	1,324,810		(2)	$	1,327,925		$	1,389,365	$	1,073,189	(2)	$	1,074,773	$	1,197,383
	Real estate debt investments, held for sale	—				—			—		17,500			17,500		17,500
	Real estate securities, available for sale (3)	100,542				79,636			79,636		104,542			66,450		66,450
	Financial liabilities: (1)
	Securitization bonds payable	$	413,885			$	413,510		$	415,284	$	507,359		$	506,929	$	507,212
	Mortgage notes payable	318,062				318,062			319,125		102,500			102,500		102,500
	Credit facilities	269,483				269,483			269,483		28,323			28,323		28,323
	______________________________________________
	-1	The fair value of other financial instruments not included in this table is estimated to approximate their carrying value.
	-2	As of December 31, 2014 and 2013, excludes future funding commitments of $59.3 million and $44.6 million, respectively.
	-3	Refer to “Determination of Fair Value” above for disclosure of methodologies used to determine fair value.
	Disclosure about fair value of financial instruments is based on pertinent information available to management as of the reporting date. Although management is not aware of any factors that would significantly affect fair value, such amounts have not been comprehensively revalued for purposes of these consolidated financial statements since that date and current estimates of fair value may differ significantly from the amounts presented herein.
	Real Estate Debt Investments
	For CRE debt investments, fair value was approximated by comparing the current yield to the estimated yield for newly originated loans with similar credit risk or the market yield at which a third party might expect to purchase such investment. Fair value was determined assuming fully-extended maturities regardless of structural or economic tests required to achieve such extended maturities. These fair value measurements of CRE debt are generally based on unobservable inputs and, as such, are classified as Level 3 of the fair value hierarchy.
	Securitization Bonds Payable
	Securitization bonds payable are valued using quotations from nationally recognized financial institutions that generally acted as underwriter for the transactions. These quotations are not adjusted and are generally based on observable inputs that can be validated, and as such, are classified as Level 2 of the fair value hierarchy.
Mortgage Notes Payable
For mortgage notes payable, the Company primarily uses rates currently available with similar terms and remaining maturities to estimate fair value. These measurements are determined using comparable U.S. Treasury rates as of the end of the reporting period. These fair value measurements are based on observable inputs, and as such, are classified as Level 2 of the fair value hierarchy.
Credit Facilities
The Company has amounts outstanding under four credit facilities. All credit facilities bear floating rates of interest. As of the reporting date, the Company believes the carrying value approximates fair value. These fair value measurements are based on observable inputs, and as such, are classified as Level 2 of the fair value hierarchy.

Segment_Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2014
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting
	The Company currently conducts its business through the following four segments, which are based on how management reviews and manages its business:
	•	Commercial Real Estate Debt - Focused on originating, acquiring and asset managing CRE debt investments including first mortgage loans, subordinate interests and mezzanine loans and participations in such loans, as well as preferred equity interests. The Company may also invest in CRE debt investments indirectly through joint ventures.
	•	Select Commercial Real Estate Equity - Focused on direct ownership in real estate, which may be owned through a joint venture and may be structurally senior to a third-party partner’s equity and indirect interests in real estate through real estate private equity funds since the underlying collateral in the funds is primarily real estate.
	•	Commercial Real Estate Securities - Focused on investing in CMBS, unsecured REIT debt, CDO notes and other securities.
	•	Corporate - The corporate segment includes corporate level asset management and other fees - related party and general and administrative expenses.
	The Company primarily generates revenue from net interest income on the CRE debt and securities portfolios, equity in earnings of unconsolidated ventures, including from PE Investments, and from rental and other income from its real estate equity investments. The Company’s income is primarily derived through the difference between revenue and the cost at which the Company is able to finance its investments. The Company may also acquire investments which generate attractive returns without any leverage.
	The following tables present segment reporting for the years ended December 31, 2014, 2013 and 2012 (dollars in thousands):
	Year ended December 31, 2014		Real Estate			Real Estate Equity			Real Estate			Corporate			Total
			Debt						Securities
	Net interest income		$	75,780		$	—		$	5,817		$	—		$	81,597
	Rental and other income		—			29,342			—			—			29,342
	Expenses		991			32,539			28			36,783			70,341
	Realized gain (loss) on investments and other		(175		)	—			572			—			397
	Unrealized gain (loss) on investments and other		—			11,764			—			—			11,764
	Income (loss) before equity in earnings (losses) of unconsolidated ventures		74,614			8,567			6,361			(36,783		)	52,759
	Equity in earnings (losses) of unconsolidated ventures		3,421			32,773			—			—			36,194
	Net income (loss)		$	78,035		$	41,340		$	6,361		$	(36,783	)	$	88,953
	Year ended December 31, 2013		Real Estate			Real Estate Equity			Real Estate			Corporate			Total
			Debt						Securities
	Net interest income		$	57,189		$	—		$	5,185		$	—		$	62,374
	Rental and other income		—			1,970			—			—			1,970
	Expenses		606			8,632			12			22,105			31,355
	Income (loss) before equity in earnings (losses) of unconsolidated ventures		56,583			(6,662		)	5,173			(22,105		)	32,989
	Equity in earnings (losses) of unconsolidated ventures		—			28,028			—			—			28,028
	Net income (loss)		$	56,583		$	21,366		$	5,173		$	(22,105	)	$	61,017
	Year ended December 31, 2012		Real Estate			Real Estate Securities			Corporate			Total
			Debt
	Net interest income		$	20,442		$	860		$	—		$	21,302
	Expenses		158			16			6,395			6,569
	Realized gain (loss) on investments and other		—			3,028			—			3,028
	Unrealized gains (losses) on investments and other		—			(2,457		)	—			(2,457		)
	Income (loss) before equity in earnings (losses) of unconsolidated ventures		20,284			1,415			(6,395		)	15,304
	Net income (loss)		$	20,284		$	1,415		$	(6,395	)	$	15,304
	The following table presents investments in unconsolidated ventures and total assets by segment as of December 31, 2014 and 2013 (dollars in thousands):
	31-Dec-14		Real Estate			Real Estate Equity			Real Estate			Corporate (1)			Total
			Debt						Securities
	Investments in unconsolidated ventures		$	54,769		$	141,091		$	—		$	—		$	195,860
	Total Assets		$	1,516,904		$	578,399		$	79,986		$	17,609		$	2,192,898
	31-Dec-13
	Investments in unconsolidated ventures		$	—		$	156,616		$	—		$	—		$	156,616
	Total Assets		$	1,347,461		$	302,501		$	66,837		$	114,305		$	1,831,104
	__________________________________________________
	-1	Includes cash, unallocated receivables and deferred costs and other assets, net.

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events
	Distribution Reinvestment Plan
	From January 1, 2015 through March 26, 2015, the Company issued 1.1 million shares of common stock pursuant to the DRP raising proceeds of $10.7 million. As of March 26, 2015, 7.6 million shares were available to be issued pursuant to the DRP.
	Distributions
	On March 3, 2015, the board of directors of the Company approved a daily cash distribution of $0.002191781 per share of common stock for each of the three months ended June 30, 2015. Distributions are generally paid to stockholders on the first business day of the month following the month for which the distribution was accrued.
	Share Repurchases
	From January 1, 2015 through March 26, 2015, the Company repurchased 0.3 million shares for a total of $2.7 million or a weighted average price of $9.65 per share under the Share Repurchase Program.

Schedule_III_Real_Estate_and_A

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation
	Column A	Column B		Column C Initial Cost				Column D Capitalized Subsequent to Acquisition		Column E Gross Amount Carried at Close of Period						Column F					Column G	Column H
	Location City, State	Encumbrances		Land		Building & Improvements		Land, Buildings & Improvements		Land		Building & Improvements		Total		Accumulated Depreciation			Total		Date Acquired	Life on Which Depreciation is Computed
	Clemson, SC	$	12,812	$	1,973	$	17,755	$	56	$	1,973	$	17,811	$	19,784	$	(435	)	$	19,349	14-Apr	30 years
	Columbia, SC	16,200		1,968		21,500		165		1,968		21,665		23,633		(463		)	23,170		14-May	30 years
	Farmington Hills, MI	43,000		3,161		47,839		3,899		3,161		51,738		54,899		(2,220		)	52,679		13-Nov	30 years
	Kalamazoo, MI	16,000		1,484		19,516		887		1,484		20,403		21,887		(846		)	21,041		13-Dec	30 years
	New Orleans, LA	43,500		3,206		50,294		1,109		3,206		51,403		54,609		(2,056		)	52,553		13-Nov	30 years
	St. Louis, MO	108,850		19,895		118,383		907		19,895		119,290		139,185		(793		)	138,392		14-Sep	40 years
	Warrendale, PA	77,700		7,650		88,600		—		7,650		88,600		96,250		(87		)	96,163		14-Dec	40 years
	Total operating real estate, net	$	318,062	$	39,337	$	363,887	$	7,023	$	39,337	$	370,910	$	410,247	$	(6,900	)	$	403,347
	The following table presents changes in the Company’s operating real estate portfolio for the years ended December 31, 2014 and 2013 are as follows (dollars in thousands):
		2014		2013
	Beginning balance	$	125,671	$	—
	Property acquisitions	284,576		125,671
	Ending balance	$	410,247	$	125,671
	Changes in accumulated depreciation for the years ended December 31, 2014 and 2013 are as follows:
		2014		2013
	Beginning balance	$	503	$	—
	Depreciation expense	6,397		503
	Ending balance	$	6,900	$	503

Schedule_IV_Mortgage_Loans_on_

Schedule IV - Mortgage Loans on Real Estate	12 Months Ended
	Dec. 31, 2014
Mortgage Loans on Real Estate [Abstract]
Schedule IV - Mortgage Loans on Real Estate
						Interest Rate (1)														Principal Amount of Loans
	Asset Type:		Location / Description		Number	Floating			Fixed			Maturity Date (2)	Periodic Payment Terms (3)	Prior Liens		Principal Amount (4)		Carrying Value		Subject to Delinquent Principal or Interest
	First mortgage loans:
	Borrower A		Various / Retail		1	6.45	%		—			5/9/19	I/O	$	—	$	150,150	$	150,150	$	—
	Borrower B		California / Office		1	7.2	%		—			2/15/16	I/O	—		91,000		91,246		—
	Borrower C		New York / Hotel		1	1.76	%		—			5/9/23	P&I	—		85,965		85,965		—
	Borrower D		California / Office		1	5.41	%					5/9/17	I/O	—		85,000		85,823
	Borrower E		Illinois / Office		1	5.5	%					11/9/17	I/O	—		78,500		79,158
	Borrower F		California / Retail		1	7	%		—			6/14/15	I/O	—		73,000		73,000		—
	Borrower G		Virginia / Office		1	6.75	%		—			12/9/15	I/O	—		66,155		66,155		—
	Borrower H		Florida / Hotel		1	7	%		—			1/9/16	I/O	—		60,300		60,356		—
	Borrower I		Office		1	7	%		—			7/9/15	I/O	—		43,300		43,300		—
	Borrower J		Georgia / Multifamily		1	5.5	%		—			8/10/15	I/O	—		42,000		42,033		—
	Borrower K		New Jersey / Office		1	8.5	%		—			1/9/17	I/O	—		41,800		41,800		—
	Borrower L		New Jersey / Office		1	5.45	%		—			8/9/17	I/O	—		40,000		40,088		—
	Other first mortgage loans (5)		Various / Various		10	7.34	%		—			12/15/16	I/O	—		233,870		233,884		—
	Total/Weighted average				22	6.3	%		—			7/20/17		—		1,091,040		1,092,958		—
	Mezzanine loans:
	Borrower M		Florida / Residential Condo		1	15.56	%		—			7/9/15	I/O	46,500		58,000		58,566		—
	Other mezzanine loans (5)		Various / Various		5	12.33	%		10.1	%		10/3/17	I/O	334,800		64,476		64,445		—
	Total/Weighted average				6	13.64	%		10.1	%		9/11/16		381,300		122,476		123,011		—
	Subordinate mortgage interests:
	Borrower N		New York / Hotel		1	—	%		13.11	%		5/9/23	I/O	160,000		33,250		33,250		—
	Total/Weighted average				1	—	%		13.11	%		5/9/23		160,000		33,250		33,250		—
	Preferred equity interests:
	Borrower O		New York / Office		1	—	%		10	%		10/1/21	I/O	—		78,044		78,706		—
	Total/Weighted Average				1	—	%		10	%		10/1/21		—		78,044		78,706
	Total				30									$	541,300	$	1,324,810	$	1,327,925	$	—
	______________________________________________________________________________________
	-1	The majority of the Company’s floating-rate loans are subject to a fixed minimum LIBOR floor. The interest rate shown is the coupon, including the LIBOR floor, as of December 31, 2014.
	-2	Reflects the initial maturity date of the investment and does not consider any options to extend beyond such date.
	-3	P&I =rincipal and interest; I/O =nterest only.
	-4	Excludes future funding commitments of $59.3 million.
	-5	Individual loans each have a carrying value of less than 3% of total carrying value of CRE debt investments.
	Reconciliation of Carrying Value of Commercial Real Estate Debt:
			Years Ended December 31,
			2014			2013				2012
	Beginning balance		$	1,092,273		$	514,058			$	72,937
	Additions:
	Principal amount of new loans and additional funding on existing loans		488,020			613,575				445,474
	Acquisition of real estate debt investments, related party		—			79,095				—
	Interest accretion		1,318			(140		)		301
	Acquisition cost (fees) on new loans		4,952			6,334				4,753
	Origination fees received on new loans		(2,505		)	(4,479		)		(4,597		)
	Deductions:
	Collection of principal		237,716			74,291				4,750
	Sales		17,325			41,383				—
	Unrealized loss on sale		175			—				—
	Amortization of acquisition costs, fees, premiums and discounts		917			496				60
	Ending balance (1)		$	1,327,925		$	1,092,273			$	514,058
	______________________________________________________________________________________
	-1	As of December 31, 2013, includes $17.5 million of CRE debt investments classified as held for sale.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Basis of Accounting	Basis of Accounting
	The accompanying consolidated financial statements and related notes of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”).
Principles of Consolidation	Principles of Consolidation
	The consolidated financial statements include the accounts of the Company, the Operating Partnership and their consolidated subsidiaries. The Company consolidates variable interest entities (“VIE”) where the Company is the primary beneficiary and voting interest entities which are generally majority owned or otherwise controlled by the Company. All significant intercompany balances are eliminated in consolidation.
Variable Interest Entities	Variable Interest Entities
	A VIE is an entity that lacks one or more of the characteristics of a voting interest entity. A VIE is defined as an entity in which equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. The determination of whether an entity is a VIE includes both a qualitative and quantitative analysis. The Company bases its qualitative analysis on its review of the design of the entity, its organizational structure including decision-making ability and relevant financial agreements and the quantitative analysis on the forecasted cash flow of the entity. The Company reassesses its initial evaluation of an entity as a VIE upon the occurrence of certain reconsideration events.
	A VIE must be consolidated only by its primary beneficiary, which is defined as the party who, along with its affiliates and agents has both the: (i) power to direct the activities that most significantly impact the VIE’s economic performance; and (ii) obligation to absorb the losses of the VIE or the right to receive the benefits from the VIE, which could be significant to the VIE. The Company determines whether it is the primary beneficiary of a VIE by considering qualitative and quantitative factors, including, but not limited to: which activities most significantly impact the VIE’s economic performance and which party controls such activities; the amount and characteristics of its investment; the obligation or likelihood for the Company or other interests to provide financial support; consideration of the VIE’s purpose and design, including the risks the VIE was designed to create and pass through to its variable interest holders and the similarity with and significance to the business activities of the Company and the other interests. The Company reassesses its determination of whether it is the primary beneficiary of a VIE each reporting period. Significant judgments related to these determinations include estimates about the current and future fair value and performance of investments held by these VIEs and general market conditions.
	The Company evaluates its investments and financings, including investments in unconsolidated ventures and securitization financing transactions to determine whether they are a VIE. The Company analyzes new investments and financings, as well as reconsideration events for existing investments and financings, which vary depending on type of investment or financing. As of December 31, 2014, the Company identified one VIE related to its securities investments. The VIE has a carrying value of $52.6 million as of December 31, 2014. The Company’s maximum exposure to loss as of December 31, 2014 would not exceed the carrying value of its investment. Based on management’s analysis, the Company determined that it does not currently or potentially hold a significant interest in this VIE and, therefore, is not the primary beneficiary. Accordingly, the VIE is not consolidated in the Company’s financial statements as of December 31, 2014. The Company did not provide financial support to its unconsolidated VIE during the year ended December 31, 2014. As of December 31, 2014, there were no explicit arrangements or implicit variable interests that could require the Company to provide financial support to its unconsolidated VIE. An affiliate of the Sponsor is named special servicer of the VIE.
Voting Interest Entities	Voting Interest Entities
	A voting interest entity is an entity in which the total equity investment at risk is sufficient to enable it to finance its activities independently and the equity holders have the power to direct the activities of the entity that most significantly impact its economic performance, the obligation to absorb the losses of the entity and the right to receive the residual returns of the entity. The usual condition for a controlling financial interest in a voting interest entity is ownership of a majority voting interest. If the Company has a majority voting interest in a voting interest entity, the entity will generally be consolidated. The Company does not consolidate a voting interest entity if there are substantive participating rights by other parties and/or kick-out rights by a single party.
	The Company performs on-going reassessments of whether entities previously evaluated under the voting interest framework have become VIEs, based on certain events, and therefore subject to the VIE consolidation framework.
Investments in Unconsolidated Ventures	Investments in Unconsolidated Ventures
	Non-controlling, unconsolidated ownership interests in an entity may be accounted for using the equity method, at fair value or the cost method.
	Under the equity method, the investment is adjusted each period for capital contributions and distributions and its share of the entity’s net income (loss). Capital contributions, distributions and net income (loss) of such entities are recorded in accordance with the terms of the governing documents. An allocation of net income (loss) may differ from the stated ownership percentage interest in such entity as a result of preferred returns and allocation formulas, if any, as described in such governing documents. Equity method investments are recognized using a cost accumulation model in which the investment is recognized based on the cost to the investor, which includes acquisition fees. Acquisition fees incurred directly in connection with the investment in a joint venture are capitalized and amortized using the straight-line method over the estimated useful life of the underlying joint venture assets.
	The Company may account for an investment in an unconsolidated entity at fair value by electing the fair value option. The Company elected the fair value option for PE Investments. The Company records the change in fair value for its share of the projected future cash flow of such investments from one period to another in equity in earnings (losses) from unconsolidated ventures in the consolidated statements of operations. Any change in fair value attributed to market related assumptions is considered unrealized gain (loss).
	The Company may account for an investment that does not qualify for equity method accounting or for which the fair value option was not elected using the cost method if the Company determines the investment in the unconsolidated entity is insignificant. Under the cost method, equity in earnings is recorded as dividends are received to the extent they are not considered a return of capital, which is recorded as a reduction of cost of the investment.
Non-controlling Interests	Non-controlling Interests
	A non-controlling interest in a consolidated subsidiary is defined as the portion of the equity (net assets) in a subsidiary not attributable, directly or indirectly, to the Company. A non-controlling interest is required to be presented as a separate component of equity on the consolidated balance sheets and presented separately as net income (loss) and other comprehensive income (loss) (“OCI”) attributable to controlling and non-controlling interests. An allocation to a non-controlling interest may differ from the stated ownership percentage interest in such entity as a result of preferred returns and allocation formulas, if any, as described in such governing documents.
Estimates	Estimates
	The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that could affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates and assumptions.
Reclassification, Policy [Policy Text Block]	Reclassifications
	Certain prior period amounts have been reclassified in the consolidated financial statements to conform to current period presentation.
Comprehensive Income (Loss)	Comprehensive Income (Loss)
	The Company reports consolidated comprehensive income (loss) in separate statements following the consolidated statements of operations. Comprehensive income (loss) is defined as the change in equity resulting from net income (loss) and OCI. The only component of OCI is unrealized gain (loss) on CRE securities available for sale for which the fair value option was not elected.
Cash	Cash
	The Company considers all highly-liquid investments with a remaining maturity date of three months or less to be cash. Cash, including amounts restricted, may at times exceed the Federal Deposit Insurance Corporation deposit insurance limit of $250,000 per institution. The Company mitigates credit risk by placing cash with major financial institutions. To date, the Company has not experienced any losses on cash.
Restricted Cash	Restricted Cash
	Restricted cash consists of amounts related to loan originations (escrow deposits) and operating real estate (escrows for taxes, insurance, capital expenditures, tenant security deposits and payments required under certain lease agreements).
Fair Value Option	Fair Value Option
	The fair value option provides an election that allows a company to irrevocably elect fair value for certain financial assets and liabilities on an instrument-by-instrument basis at initial recognition. The Company will generally not elect the fair value option for its assets and liabilities. However, the Company may elect to apply the fair value option for certain investments. Any change in fair value for assets and liabilities for which the election is made is recognized in earnings.
Real Estate Debt Investments	Real Estate Debt Investments
	CRE debt investments are generally intended to be held to maturity and, accordingly, are carried at cost, net of unamortized loan fees, premium, discount and unfunded commitments. CRE debt investments that are deemed to be impaired are carried at amortized cost less a loan loss reserve, if deemed appropriate, which approximates fair value. CRE debt investments where the Company does not have the intent to hold the loan for the foreseeable future or until its expected payoff are classified as held for sale and recorded at the lower of cost or estimated value.
Operating Real Estate	Operating Real Estate
	Operating real estate is carried at historical cost less accumulated depreciation. Costs directly related to an acquisition deemed to be a business combination are expensed and included in transaction costs in the consolidated statements of operations. Ordinary repairs and maintenance are expensed as incurred. Major replacements and betterments which improve or extend the life of the asset are capitalized and depreciated over their useful life.
	Operating real estate is depreciated using the straight-line method over the estimated useful lives of the assets, summarized as follows:
	Category:	Term:
	Building (fee interest)	30 to 40 years
	Building improvements	Lesser of the useful life or remaining life of the building
	Building (leasehold interest)	Lesser of 40 years or remaining term of the lease
	Land improvements	6 to 30 years
	Tenant improvements	Lesser of the useful life or remaining term of the lease
	The Company follows the purchase method for an acquisition of operating real estate, where the purchase price is allocated to tangible assets such as land, building, tenant and land improvements and other identified intangibles.
Real Estate Securities	Real Estate Securities
	The Company classifies its CRE securities investments as available for sale on the acquisition date, which are carried at fair value. Unrealized gains (losses) are recorded as a component of accumulated OCI in the consolidated statements of equity. However, the Company may elect the fair value option for certain of its available for sale securities, and as a result, any unrealized gains (losses) on such securities are recorded in unrealized gain (loss) on investments and other in the consolidated statements of operations. As of December 31, 2014, the Company did not have any CRE securities investments for which it elected the fair value option.
Acquisition Fees and Expenses	Acquisition Fees and Expenses
	The total of all acquisition fees and expenses for an investment, including acquisition fees to the Advisor, cannot exceed, in the aggregate, 6.0% of the contract purchase price of such investment unless such excess is approved by a majority of the directors, including independent directors. For the year ended December 31, 2014, total acquisition fees and expenses did not exceed the allowed limit for any investment. An acquisition fee paid to the Advisor related to the origination or acquisition of CRE debt investments is included in CRE debt investments, net on the consolidated balance sheets and is amortized to interest income over the life of the investment using the effective interest method. An acquisition fee incurred related to an equity investment will generally be expensed as incurred.
Revenue Recognition	Revenue Recognition
	Real Estate Debt Investments
	Interest income is recognized on an accrual basis and any related premium, discount, origination costs and fees are amortized over the life of the investment using the effective interest method. The amortization is reflected as an adjustment to interest income in the consolidated statements of operations. The amortization of a premium or accretion of a discount is discontinued if such loan is reclassified to held for sale.
	Operating Real Estate
	Rental and other income from operating real estate is derived from leasing of space to various types of tenants. The leases are for fixed terms of varying length and generally provide for annual rentals and expense reimbursements to be paid in monthly installments. Rental income from leases is recognized on a straight-line basis over the term of the respective leases.
	Real Estate Securities
	Interest income is recognized using the effective interest method with any premium or discount amortized or accreted through earnings based on expected cash flow through the expected maturity date of the security. Changes to expected cash flow may result in a change to the yield which is then applied retrospectively for high-credit quality securities that cannot be prepaid or otherwise settled in such a way that the holder would not recover substantially all of the investment or prospectively for all other securities to recognize interest income.
Credit Losses and Impairment on Investments	Credit Losses and Impairment on Investments
	Real Estate Debt Investments
	Loans are considered impaired when, based on current information and events, it is probable that the Company will not be able to collect principal and interest amounts due according to the contractual terms. The Company assesses the credit quality of the portfolio and adequacy of loan loss reserves on a quarterly basis or more frequently as necessary. Significant judgment of the Company is required in this analysis. The Company considers the estimated net recoverable value of the loan as well as other factors, including but not limited to the fair value of any collateral, the amount and the status of any senior debt, the quality and financial condition of the borrower and the competitive situation of the area where the underlying collateral is located. Because this determination is based on projections of future economic events, which are inherently subjective, the amount ultimately realized may differ materially from the carrying value as of the balance sheet date. If upon completion of the assessment, the estimated fair value of the underlying collateral is less than the net carrying value of the loan, a loan loss reserve is recorded with a corresponding charge to provision for loan losses. The loan loss reserve for each loan is maintained at a level that is determined to be adequate by management to absorb probable losses.
	Income recognition is suspended for a loan at the earlier of the date at which payments become 90-days past due or when, in the opinion of the Company, a full recovery of income and principal becomes doubtful. When the ultimate collectability of the principal of an impaired loan is in doubt, all payments are applied to principal under the cost recovery method. When the ultimate collectability of the principal of an impaired loan is not in doubt, contractual interest is recorded as interest income when received, under the cash basis method until an accrual is resumed when the loan becomes contractually current and performance is demonstrated to be resumed. A loan is written off when it is no longer realizable and/or legally discharged.
	Operating Real Estate
	The Company’s real estate portfolio is reviewed on a quarterly basis, or more frequently as necessary, to assess whether there are any indicators that the value of its operating real estate may be impaired or that its carrying value may not be recoverable. A property’s value is considered impaired if the Company’s estimate of the aggregate expected future undiscounted cash flow generated by the property is less than the carrying value. In conducting this review, the Company considers U.S. macroeconomic factors, real estate sector conditions and asset specific and other factors. To the extent an impairment has occurred, the loss is measured as the excess of the carrying value of the property over the estimated fair value and recorded in impairment on operating real estate in the consolidated statements of operations.
	An allowance for a doubtful account for a tenant receivable is established based on a periodic review of aged receivables resulting from estimated losses due to the inability of tenants to make required rent and other payments contractually due. Additionally, the Company establishes, on a current basis, an allowance for future tenant credit losses on unbilled rent receivable based on an evaluation of the collectability of such amounts.
	Real Estate Securities
	CRE securities for which the fair value option is elected are not evaluated for other-than-temporary impairment (“OTTI”) as any change in fair value is recorded in the consolidated statements of operations. Realized losses on such securities are reclassified to realized gain (loss) on investments and other as losses occur.
	CRE securities for which the fair value option is not elected are evaluated for OTTI quarterly. Impairment of a security is considered to be other-than-temporary when: (i) the holder has the intent to sell the impaired security; (ii) it is more likely than not the holder will be required to sell the security; or (iii) the holder does not expect to recover the entire amortized cost of the security. When a CRE security has been deemed to be other-than-temporarily impaired due to (i) or (ii), the security is written down to its fair value and an OTTI is recognized in the consolidated statements of operations. In the case of (iii), the security is written down to its fair value and the amount of OTTI is then bifurcated into: (a) the amount related to expected credit losses; and (b) the amount related to fair value adjustments in excess of expected credit losses. The portion of OTTI related to expected credit losses is recognized in the consolidated statements of operations. The remaining OTTI related to the valuation adjustment is recognized as a component of accumulated OCI in the consolidated statements of equity. The portion of OTTI recognized through earnings is accreted back to the amortized cost basis of the security through interest income, while amounts recognized through OCI are amortized over the life of the security with no impact on earnings. CRE securities which are not high-credit quality are considered to have an OTTI if the security has an unrealized loss and there has been an adverse change in expected cash flow. The amount of OTTI is then bifurcated as discussed above. As of December 31, 2014, the Company did not have any OTTI recorded on its CRE securities.
Derivatives	Derivatives
	Derivatives are used to manage exposure to interest rate risk. All cash settlements and any change in fair value are recorded in interest income in the consolidated statements of operations. As of December 31, 2014, the Company had one interest rate floor as a hedge related to its floating-rate investments, maturing in October 2015 with a fair value of $2.8 million and a notional amount of $225.0 million. Derivatives are generally valued using a third-party pricing service. These quotations are not adjusted and are based on observable inputs that can be validated, and as such, are classified as Level 2 of the fair value hierarchy. Refer to Note 12 for further disclosure. The interest rate floor is included in deferred costs and other assets, net on the consolidated balance sheet as of December 31, 2014.
Organization and Offering Costs	Organization and Offering Costs
	The Prior Advisor, or its affiliates, was entitled to receive reimbursement for costs paid on behalf of the Company in connection with the Offering. The Company was obligated to reimburse the Prior Advisor for organization and offering costs to the extent the aggregate of selling commissions, dealer manager fees and other organization and offering costs do not exceed 15.0% of gross offering proceeds from the Total Primary Offering. The Prior Advisor initially expected reimbursable organization and offering costs would not exceed $15.0 million, or 1.5% of the total proceeds available to be raised from the Total Primary Offering. Based on gross proceeds raised of $1,072.9 million from the Total Primary Offering, the Company incurred reimbursable organization and offering costs, excluding selling commissions and dealer manager fees, of 1.0%, which was less than the 1.5% expected. The Company recorded organization and offering costs each period based upon an allocation determined by the expectation of total organization and offering costs to be reimbursed. Organization costs were recorded as an expense in general and administrative expenses in the consolidated statements of operations and offering costs were recorded as a reduction to equity.
Equity-Based Compensation	Equity-Based Compensation
	The Company accounts for equity-based compensation awards using the fair value method, which requires an estimate of fair value of the award at the time of grant. All fixed equity-based awards to directors, which have no vesting conditions other than time of service, are amortized to compensation expense over the awards’ vesting period on a straight-line basis. Equity-based compensation is classified within general and administrative expense in the consolidated statements of operations.
Income Taxes	Income Taxes
	The Company elected to be taxed as a REIT and to comply with the related provisions of the Internal Revenue Code of 1986, as amended. Accordingly, the Company will generally not be subject to U.S. federal income tax to the extent of its distributions to stockholders and as long as certain asset, income and share ownership tests are met. To maintain its qualification as a REIT, the Company must annually distribute at least 90% of its REIT taxable income to its stockholders and meet certain other requirements. The Company may also be subject to certain state, local and franchise taxes. Under certain circumstances, federal income and excise taxes may be due on its undistributed taxable income. If the Company were to fail to meet these requirements, it would be subject to U.S. federal income tax, which could have a material adverse impact on its results of operations and amounts available for distributions to its stockholders. The Company believes that all of the criteria to maintain the Company’s REIT qualification have been met for the applicable periods, but there can be no assurance that these criteria will continue to be met in subsequent periods. The Company has assessed its tax positions for all open tax years, which include 2010 to 2014, and concluded there were no material uncertainties to be recognized. The Company’s accounting policy with respect to interest and penalties is to classify these amounts as interest expense. The Company has not recognized any such amounts related to uncertain tax positions for the years ended December 31, 2014, 2013 and 2012.
	Certain subsidiaries of the Company are subject to taxation by federal, state and foreign authorities for the periods presented. The Company and its U.S. subsidiaries will file a consolidated federal income tax return. Income taxes are accounted for by the asset/liability approach in accordance with U.S. GAAP. Deferred taxes, if any, represent the expected future tax consequences when the reported amounts of assets and liabilities are recovered or paid. Such amounts arise from differences between the financial reporting and tax bases of assets and liabilities and are adjusted for changes in tax laws and tax rates in the period which such changes are enacted. A provision for income tax represents the total of income taxes paid or payable for the current period, plus the change in deferred taxes. For the year ended December 31, 2014, current and deferred income tax expense of $1.5 million and $2.0 million, respectively, is classified within equity in earnings (losses) of unconsolidated ventures in the consolidated statement of operations. An additional deferred income tax expense of $1.9 million is recorded in unrealized gain (loss) on investments and other in the consolidated statements of operations related to deferred taxes on the unrealized gain related to PE Investment I. As of December 31, 2014, current and deferred income taxes payable of $1.4 million and $4.9 million, respectively, are classified within accounts payable and accrued expenses on the consolidated balance sheets.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In May 2014, the FASB issued an accounting update requiring a company to recognize as revenue the amount of consideration it expects to be entitled to in connection with the transfer of promised goods or services to customers.  When it becomes effective on January 1, 2017, the accounting standard update will replace most of the existing revenue recognition guidance currently promulgated by U.S. GAAP.  The Company is in the process of evaluating the impact, if any, of the update on its consolidated financial statements and related disclosures.
	In February 2015, the FASB issued updated guidance that changes the rules regarding consolidation. The pronouncement eliminates specialized guidance for limited partnerships and similar legal entities and removes the indefinite deferral for certain investment funds. The new guidance is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, with early adoption permitted. The Company is currently assessing the impact of the guidance on its consolidated financial position, results of operations and financial statement disclosures.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Schedule of Operating Real Estate Properties Estimated Useful Lives	Operating real estate is depreciated using the straight-line method over the estimated useful lives of the assets, summarized as follows:
	Category:	Term:
	Building (fee interest)	30 to 40 years
	Building improvements	Lesser of the useful life or remaining life of the building
	Building (leasehold interest)	Lesser of 40 years or remaining term of the lease
	Land improvements	6 to 30 years
	Tenant improvements	Lesser of the useful life or remaining term of the lease

Real_Estate_Debt_Investments_T

Real Estate Debt Investments (Tables)	12 Months Ended
	Dec. 31, 2014
Mortgage Loans on Real Estate, Commercial and Consumer, Net, (Investment Based Operations Presentation) [Abstract]
Schedule of CRE debt investments, all of which have been directly originated by the company	The following table presents CRE debt investments, as of December 31, 2014 (dollars in thousands):
												Weighted Average						Floating
																		Rate as
																		% of
																		Principal
	Asset Type:	Number		Principal				Carrying		Allocation by Investment Type (3)		Fixed		Spread		Total Unleveraged		Amount
				Amount (1)				Value (2)				Rate		over		Current
														LIBOR (4)		Yield
	First mortgage loans	22		$	1,123,192			$	1,092,958	81.2	%	—	%	6.16	%	6.19	%	100	%
	Mezzanine loans	6		149,669				123,011		10.8	%	10.1	%	13.95	%	13.66	%	92	%
	Subordinate interests	1		33,250				33,250		2.4	%	13.11	%	—	%	13.24	%	—	%
	Preferred equity interests (5)	1		78,044				78,706		5.6	%	10	%	—	%	10	%	—	%
	Total/Weighted average	30		$	1,384,155			$	1,327,925	100	%	10.85	%	6.55	%	7.28	%	91.1	%
	__________________________________________________________
	-1	Includes future funding commitments of $59.3 million.
	-2	Certain CRE debt investments serve as collateral for financing transactions including carrying value of $632.8 million for Securitization Financing Transactions (including $0.8 million of cash pending investment) and $385.7 million for Term Loan Facilities (refer to Note 7). The remainder is unleveraged.
	-3	Based on principal amount.
	-4	Includes a fixed minimum LIBOR rate (“LIBOR floor”), as applicable. As of December 31, 2014, the Company had $1,027.6 million principal amount of floating-rate loans subject to a weighted average LIBOR floor of 0.66%.
	-5	Represents a preferred equity interest originated through a joint venture with affiliates of RXR Realty LLC (“RXR”). The Company’s proportionate interest of the loan is 90%, representing $70.9 million of the carrying value. The Company consolidates the loan and records RXR’s investment as a non-controlling interest.
	The following table presents CRE debt investments, as of December 31, 2013 (dollars in thousands):
												Weighted Average						Floating
																		Rate as
																		% of
																		Principal
	Asset Type:	Number		Principal				Carrying		Allocation by Investment Type (4)		Fixed		Spread		Total Unleveraged		Amount
				Amount (1)				Value (2)(3)				Rate		Over		Current
														LIBOR (5)		Yield
	First mortgage loans	30		$	973,380			$	957,427	85.7	%	12.96	%	7.36	%	7.72	%	94.8	%
	Mezzanine loans	2		128,693				101,596		11.4	%	—	%	13.49	%	13.61	%	100	%
	Subordinate interests	1		33,250				33,250		2.9	%	13.11	%	—	%	13.24	%	—	%
	Total/Weighted average	33		$	1,135,323			$	1,092,273	100	%	13.02	%	7.97	%	8.43	%	92.4	%
	__________________________________________________________
	-1	Includes future funding commitments of $44.6 million and a $17.5 million mezzanine loan participation classified as held for sale.
	-2	Certain CRE debt investments serve as collateral for financing transactions including carrying value of $711.5 million for Securitization Financing Transactions (including $42.6 million of cash pending investment) and $30.9 million for Term Loan Facilities (refer to Note 7). The remainder is unleveraged.
	-3	Includes a $17.5 million mezzanine loan participation classified as held for sale.
	-4	Based on principal amount.
	-5	Includes a LIBOR floor. As of December 31, 2013, the Company had $898.2 million principal amount of floating-rate loans subject to a weighted average LIBOR floor of 1.07%.
Schedule of maturities of CRE debt investments based on principal amount	The following table presents maturities of CRE debt investments based on principal amount as of December 31, 2014 (dollars in thousands):
		Initial				Maturity
		Maturity				Including
						Extensions (1)
	Years Ending December 31:
	2015	$	345,100			$	—
	2016	323,600				68,000
	2017	330,776				287,100
	2018	—				413,600
	2019	162,150				242,776
	Thereafter	222,529				372,679
	Total	$	1,384,155			$	1,384,155
	__________________________________________________________
	-1	Assumes that all debt with extension options will qualify for extension at such maturity according to the conditions set forth in the governing documents.

Operating_Real_Estate_Tables

Operating Real Estate (Tables)	12 Months Ended
	Dec. 31, 2014
Real Estate [Abstract]
Schedule of Operating Real Estate Properties	The following table presents operating real estate, net as of December 31, 2014 and 2013 (dollars in thousands):
			December 31,
			2014				2013
	Land and improvements		$	43,504			$	12,018
	Buildings and improvements		365,439				112,409
	Furniture, fixtures and equipment		1,304				1,244
	Subtotal		410,247				125,671
	Less: Accumulated depreciation		(6,900		)		(503		)
	Operating real estate, net		$	403,347			$	125,168
Schedule of Real Estate Properties	The following table summarizes the Company’s real estate acquisitions for the year ended December 31, 2014 (dollars in thousands):
	Description		Purchase Price (1)				Properties		Units	State	Financing		Equity		Ownership Interest	Transaction Costs
	Student Housing 2		$	20,385			1		590 beds	SC	$	12,933	$	5,643	80.00%	$	324
	Student Housing 3		24,319				1		700 beds	SC	16,200		6,067		80.00%	378
	Office 1		149,352				7		884,833 sq ft	MO	108,850		34,852		95.00%	954
	Office 2		103,426				5		554,474 sq ft	PA	77,700		22,896		89.00%	952
			$	297,482			14				$	215,683	$	69,458		$	2,608
	____________________________________________________________
	-1	Includes all deferred costs, escrows and reserves.
Business Acquisition, Pro Forma Information	The unaudited pro forma amounts were prepared for comparative purposes only and are not indicative of what actual consolidated results of operations of the Company would have been, nor are they indicative of the consolidated results of operations in the future and exclude transaction costs (dollars in thousands, expect per share):
		Years Ended December 31,
		2014				2013
	Pro forma total revenues	$	158,931			$	116,868
	Pro forma net income (loss) attributable to NorthStar Real Estate Income Trust, Inc. common stockholders	96,662				74,432
	Pro forma net income (loss) per share of common stock, basic/diluted	$	0.83			$	0.76
Schedule of Business Acquisitions	The following table presents the preliminary allocation of purchase price of the operating real estate assets acquired and liabilities assumed or issued (including financing entered into contemporaneous with the acquisition) for acquisitions in 2014 that continue to be subject to refinement upon receipt of all information (dollars in thousands):
	Assets:
	Land and improvements		$	31,486
	Buildings and improvements		246,233
	Other assets acquired (1)		19,763
	Total assets acquired		$	297,482
	Liabilities:
	Mortgage notes payable		$	215,683
	Other liabilities assumed (2)		4,750
	Total liabilities		220,433
	Total NorthStar Real Estate Income Trust, Inc. stockholders’ equity		69,458
	Non-controlling interests		7,591
	Total equity		77,049
	Total liabilities and equity		$	297,482
	____________________________________________________________
	-1	Primarily includes deferred costs, escrows and reserves, as applicable.
	-2	Primarily includes prepaid rent and accrued expenses.
	The following table presents the final allocation of the purchase price of the assets acquired and liabilities issued for the Company’s properties acquired in 2013 (dollars in thousands):
	Assets:
	Land and improvements		$	12,018
	Buildings and improvements		112,238
	Other assets acquired (1)		13,268
	Total assets acquired		$	137,524
	Liabilities:
	Mortgage notes payable		$	102,500
	Other liabilities assumed (2)		871
	Total liabilities		103,371
	Total NorthStar Real Estate Income Trust, Inc. stockholders’ equity		29,361
	Non-controlling interests		4,792
	Total equity		34,153
	Total liabilities and equity		$	137,524
	____________________________________________________________
	-1	Primarily includes escrow amounts, as applicable.
	-2	Primarily includes prepaid rent and accrued expenses.

Investments_in_Unconsolidated_1

Investments in Unconsolidated Ventures (Tables)	12 Months Ended
	Dec. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	The following tables summarize the Company’s PE Investments as of December 31, 2014 (dollars in millions):
	PE Investment		Initial Closing Date		NAV Reference Date (1)	Number of Funds		Purchase Price			Expected Future Contributions (2)
	PE Investment I		15-Feb-13		30-Jun-12	49		$	118		$	3
	PE Investment II		3-Jul-13		30-Sep-12	24		75.7			1
	Total					73		$	193.7		$	4
	____________________________________________________________
	-1	Represents the net asset value (“NAV”) date on which the Company agreed to acquire the respective PE Investment.
	-2	Represents the estimated amount of expected future contributions to funds as of December 31, 2014.
			Carrying Value						Year Ended December 31, 2014							Year Ended December 31, 2013 (2)
	PE Investment		December 31, 2014			December 31, 2013			Equity in Earnings (1)			Cash Distributions		Cash Contributions		Equity in Earnings		Cash Distributions		Cash Contributions
	PE Investment I (3)		$	91.5		$	94.7		$	21.4		$	40.6	$	0.5	$	22.5	$	54.5	$	8.7
	PE Investment II		49.6			61.9			11.4			24.9		1.3		6.2		22.5		2.5
	Total		$	141.1		$	156.6		$	32.8		$	65.5	$	1.8	$	28.7	$	77	$	11.2
	____________________________________________________________
	-1	Includes $3.9 million in deferred income taxes.
	-2	The year ended December 31, 2013 represents activity from February 15, 2013 for PE Investment I and July 3, 2013 for PE Investment II.
	-3	For the year ended December 31, 2014, the Company recorded an unrealized gain of $11.8 million, net of $1.9 million deferred taxes related to PE Investment I.

Real_Estate_Securities_Availab1

Real Estate Securities, Available for Sale (Tables)	12 Months Ended
	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Schedule of the Company's CRE securities	The following table presents CMBS investments (dollars in thousands):
														Weighted Average
			Principal		Amortized		Cumulative Unrealized					Fair				Unleveraged
			Amount (1)		Cost		on Investments					Value				Current
	As of Date:	Number					Gain		(Loss)					Coupon (2)		Yield
	December 31, 2014	7	$	100,542	$	51,222	$	29,264	$	(850	)	$	79,636	4.63	%	9.4	%
	December 31, 2013	8	104,542		53,406		13,373		(329		)	66,450		4.53	%	9.07	%
	_______________________________________________________________
	-1	Certain CRE securities serve as collateral for financing transactions including carrying value of $17.3 million for the CMBS Facilities (refer to Note 7). The remainder is unleveraged.
	-2	All CMBS are fixed rate.

Borrowings_Tables

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
Summary of borrowings	The following table presents borrowings as of December 31, 2014 and 2013 (dollars in thousands):
							December 31, 2014								December 31, 2013
		Recourse vs. Non-Recourse		Final	Contractual		Principal				Carrying				Principal		Carrying
				Maturity	Interest Rate (1)		Amount				Value				Amount		Value
	Securitization bonds payable
	Securitization 2013-1	Non-recourse		29-Aug	LIBOR + 2.72%		$	367,363			$	367,011			$	382,700	$	382,250
	Securitization 2012-1	Non-recourse		29-Aug	LIBOR + 2.43%		46,522				46,499				124,659		124,679
	Subtotal securitization bonds payable						413,885				413,510				507,359		506,929
	Mortgage notes payable
	Multifamily 1	Non-recourse		23-Dec	4.84%		43,500				43,500				43,500		43,500
	Multifamily 2	Non-recourse		23-Dec	4.94%		43,000				43,000				43,000		43,000
	Office 1	Non-recourse		24-Oct	4.47%		108,850				108,850				—		—
	Office 2	Non-recourse		25-Jan	4.30%		77,700				77,700				—		—
	Student housing 1	Non-recourse		24-Jan	5.15%		16,000				16,000				16,000		16,000
	Student housing 2 (2)	Non-recourse		20-Dec	5.27%		12,812				12,812				—		—
	Student housing 3	Non-recourse		16-Nov	5.84%		16,200				16,200				—		—
	Subtotal mortgage notes payable						318,062				318,062				102,500		102,500
	Credit facilities
	Loan Facility 2	Partial Recourse (3)		Oct-19 (4)	2.70% (5)		85,100				85,100				—		—
	Loan Facility 3	Non-recourse		Jul-18 (6)	N/A (7)		—				—				16,638		16,638
	Loan Facility 4	Partial Recourse (8)		Mar-18 (9)	2.70% (10)		172,698				172,698				—		—
	CMBS Facilities	Recourse		-11	1.42%		11,685				11,685				11,685		11,685
	Subtotal credit facilities						269,483				269,483				28,323		28,323
	Grand Total						$	1,001,430			$	1,001,055			$	638,182	$	637,752
	_____________________________________________________
	-1	Represents the weighted average as of December 31, 2014.
	-2	Represents two separate senior mortgage notes with a weighted average maturity of December 1, 2020 and weighted average interest rate of 5.27%.
	-3	Recourse solely with respect to 25.0% of the repurchase price for purchased assets with a lender debt yield equal to or greater than 10% at the time of financing plus 100% of the repurchase price for purchased assets with a lender debt yield less than 10% at the time of financing.
	-4	The next maturity date is October 18, 2016, with three, one-year extensions available at the option of the Company, which may be exercised upon the satisfaction of certain customary conditions set forth in the governing documents.
	-5	The contractual interest rate depends upon asset type and characteristic and ranges from one-month LIBOR plus 2.0% to 4.0%. The Company entered into this facility in the third quarter 2012.
	-6	The initial maturity date is July 30, 2015, with three, one-year extensions available at the option of the Company, which may be exercised upon the satisfaction of certain customary conditions set forth in the governing documents.
	-7	The contractual interest rate depends upon asset type and characteristic and ranges from one-month LIBOR plus 3.95% to 5.95%.
	-8	Recourse solely with respect to the greater of: (i) 25.0% of the financed amount of stabilized loans plus the financed amount of transitional loans; or (ii) the lesser of $25.0 million or the aggregate financed amount of all loans.
	-9	The next maturity date is March 11, 2016, with two, one-year extensions available at the option of the Company, which may be exercised upon the satisfaction of certain customary conditions set forth in the governing documents.
	-10	The contractual interest rate depends upon asset type and characteristics and ranges from one-month LIBOR plus 2.5% to 3.0%. The Company entered into this facility in the first quarter 2013.
	-11	The maturity dates on the CMBS Facilities are dependent upon asset type and will typically range from two to three months.
Schedule of principal on borrowings based on final maturity	The following table presents scheduled principal on borrowings, based on fully extended maturity as of December 31, 2014 (dollars in thousands):
		Total			Securitization				Mortgage Notes Payable				Credit
					Bonds Payable								Facilities
	Years Ending December 31:
	2015	$	11,685		$	—			$	—			$	11,685
	2016	16,200			—				16,200				—
	2017	—			—				—				—
	2018	172,698			—				—				172,698
	2019	—			—				—				—
	Thereafter	800,847			413,885				301,862				85,100
	Total	$	1,001,430		$	413,885			$	318,062			$	269,483

Related_Party_Arrangements_Tab

Related Party Arrangements (Tables)	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Summary of fees incurred to the advisor and the due to related party at the end of the period	The following table presents the fees and reimbursements incurred to the Advisor for the years ended December 31, 2014, 2013 and 2012 and the amount due to related party as of December 31, 2014 and 2013 (dollars in thousands):
				Years Ended December 31,						Due to Related Party as of December 31,
	Type of Fee or Reimbursement (1)		Financial Statement Location	2014		2013		2012		2014		2013
	Fees to Advisor
	Asset management		Asset management and other fees- related party	$	21,969	$	13,600	$	3,360	$	—	$	1,607
	Acquisition (2)		Real estate debt investments, net / Asset management and other fees- related party	8,176		10,194		4,753		—		—
	Disposition (2)		Real estate debt investments, net / Asset management and other fees- related party	2,456		1,178		24		—		10
	Reimbursements to Advisor
	Operating costs		General and administrative expenses	11,507		7,786		2,397		—		1,459
	Organization		General and administrative expenses	—		62		470		—		—
	Offering		Cost of capital	—		2,989		5,564		—		—
	Total									$	—	$	3,076
	___________________________________
	-1	The Company incurred selling commissions / dealer manager fees of $49.5 million and $42.4 million for the years ended December 31, 2013 and 2012, respectively. These costs are recorded as cost of capital and are included in net proceeds from issuance of common stock in the Company’s consolidated statements of equity.
	-2	Acquisition/disposition fees incurred to the Advisor related to CRE debt investments are generally offset by origination/exit fees paid to the Company by borrowers if such fees are required from the borrower. Acquisition fees related to equity investments are included in asset management and other fees - related party in the consolidated statements of operations. The Advisor may determine to defer fees or seek reimbursement. From inception through December 31, 2014, the Advisor deferred $0.5 million of acquisition fees and $0.4 million of disposition fees related to CRE securities.

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2014
Stockholders' Equity Note [Abstract]
Summary of distributions declared	The following table presents distributions declared for the years ended December 31, 2014, 2013 and 2012 (dollars in thousands):
		Distributions(1)
	Period	Cash		DRP		Total
	2014
	First Quarter	$	12,369	$	10,338	$	22,707
	Second Quarter	12,492		10,650		23,142
	Third Quarter	12,674		10,885		23,559
	Fourth Quarter	12,717		10,997		23,714
	Total	$	50,252	$	42,870	$	93,122
	2013
	First Quarter	$	7,728	$	5,736	$	13,464
	Second Quarter	10,694		8,170		18,864
	Third Quarter	12,644		10,213		22,857
	Fourth Quarter	12,678		10,359		23,037
	Total	$	43,744	$	34,478	$	78,222
	2012
	First Quarter	$	2,378	$	1,502	$	3,880
	Second Quarter	3,307		2,293		5,600
	Third Quarter	4,535		3,272		7,807
	Fourth Quarter	6,088		4,547		10,635
	Total	$	16,308	$	11,614	$	27,922
	_________________________________________________
	-1	Represents distributions declared for the period, even though such distributions are actually paid to stockholders the month following such period. For the year ended December 31, 2014, approximately 69% of distributions paid was ordinary income, 7% was capital gain income and 24% was a return of capital.

Fair_Value_Tables

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Schedule of financial assets accounted for at fair value on a recurring basis by level within the fair value hierarchy	The following table presents financial assets that were accounted for at fair value on a recurring basis as of December 31, 2014 and 2013 by level within the fair value hierarchy (dollars in thousands):
		December 31, 2014												December 31, 2013
		Level 1				Level 2			Level 3		Total			Level 1		Level 2		Level 3		Total
	Assets:
	Investments in private equity funds, at fair value	$	—			$	—		$	141,091	$	141,091		$	—	$	—	$	156,616	$	156,616
	Real estate securities, available for sale	—				79,636			—		79,636			—		66,450		—		66,450
Table presents additional information about financial assets which are measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value	The following table presents additional information about PE Investments which are measured at fair value on a recurring basis as of December 31, 2014 and 2013 for which the Company has used Level 3 inputs to determine fair value (dollars in thousands):
		Years Ended December 31,
		2014				2013
	Beginning balance	$	156,616			$	—
	Purchases/contributions	1,766				204,924
	Distributions	(65,490		)		(76,973		)
	Equity in earnings (1)	34,549				28,665
	Unrealized gain (2)	13,650				—
	Ending balance	$	141,091			$	156,616
	__________________________________________________________
	(1) Excludes $1.8 million in current and deferred taxes.
	(2) Excludes $1.9 million in deferred taxes.
Schedule of principal amount, carrying value and fair value of certain financial assets and liabilities	The following table presents the principal amount, carrying value and fair value of certain financial assets and liabilities as of December 31, 2014 and 2013 (dollars in thousands):
		December 31, 2014									December 31, 2013
		Principal				Carrying			Fair		Principal			Carrying		Fair
		Amount				Value			Value		Amount			Value		Value
	Financial assets: (1)
	Real estate debt investments, net	$	1,324,810		(2)	$	1,327,925		$	1,389,365	$	1,073,189	(2)	$	1,074,773	$	1,197,383
	Real estate debt investments, held for sale	—				—			—		17,500			17,500		17,500
	Real estate securities, available for sale (3)	100,542				79,636			79,636		104,542			66,450		66,450
	Financial liabilities: (1)
	Securitization bonds payable	$	413,885			$	413,510		$	415,284	$	507,359		$	506,929	$	507,212
	Mortgage notes payable	318,062				318,062			319,125		102,500			102,500		102,500
	Credit facilities	269,483				269,483			269,483		28,323			28,323		28,323
	______________________________________________
	-1	The fair value of other financial instruments not included in this table is estimated to approximate their carrying value.
	-2	As of December 31, 2014 and 2013, excludes future funding commitments of $59.3 million and $44.6 million, respectively.
	-3	Refer to “Determination of Fair Value” above for disclosure of methodologies used to determine fair value.

Segment_Reporting_Tables

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2014
Segment Reporting [Abstract]
Summary of segment reporting	The following tables present segment reporting for the years ended December 31, 2014, 2013 and 2012 (dollars in thousands):
	Year ended December 31, 2014		Real Estate			Real Estate Equity			Real Estate			Corporate			Total
			Debt						Securities
	Net interest income		$	75,780		$	—		$	5,817		$	—		$	81,597
	Rental and other income		—			29,342			—			—			29,342
	Expenses		991			32,539			28			36,783			70,341
	Realized gain (loss) on investments and other		(175		)	—			572			—			397
	Unrealized gain (loss) on investments and other		—			11,764			—			—			11,764
	Income (loss) before equity in earnings (losses) of unconsolidated ventures		74,614			8,567			6,361			(36,783		)	52,759
	Equity in earnings (losses) of unconsolidated ventures		3,421			32,773			—			—			36,194
	Net income (loss)		$	78,035		$	41,340		$	6,361		$	(36,783	)	$	88,953
	Year ended December 31, 2013		Real Estate			Real Estate Equity			Real Estate			Corporate			Total
			Debt						Securities
	Net interest income		$	57,189		$	—		$	5,185		$	—		$	62,374
	Rental and other income		—			1,970			—			—			1,970
	Expenses		606			8,632			12			22,105			31,355
	Income (loss) before equity in earnings (losses) of unconsolidated ventures		56,583			(6,662		)	5,173			(22,105		)	32,989
	Equity in earnings (losses) of unconsolidated ventures		—			28,028			—			—			28,028
	Net income (loss)		$	56,583		$	21,366		$	5,173		$	(22,105	)	$	61,017
	Year ended December 31, 2012		Real Estate			Real Estate Securities			Corporate			Total
			Debt
	Net interest income		$	20,442		$	860		$	—		$	21,302
	Expenses		158			16			6,395			6,569
	Realized gain (loss) on investments and other		—			3,028			—			3,028
	Unrealized gains (losses) on investments and other		—			(2,457		)	—			(2,457		)
	Income (loss) before equity in earnings (losses) of unconsolidated ventures		20,284			1,415			(6,395		)	15,304
	Net income (loss)		$	20,284		$	1,415		$	(6,395	)	$	15,304
Summary of total assets by segment	The following table presents investments in unconsolidated ventures and total assets by segment as of December 31, 2014 and 2013 (dollars in thousands):
	31-Dec-14		Real Estate			Real Estate Equity			Real Estate			Corporate (1)			Total
			Debt						Securities
	Investments in unconsolidated ventures		$	54,769		$	141,091		$	—		$	—		$	195,860
	Total Assets		$	1,516,904		$	578,399		$	79,986		$	17,609		$	2,192,898
	31-Dec-13
	Investments in unconsolidated ventures		$	—		$	156,616		$	—		$	—		$	156,616
	Total Assets		$	1,347,461		$	302,501		$	66,837		$	114,305		$	1,831,104
	__________________________________________________
	-1	Includes cash, unallocated receivables and deferred costs and other assets, net.

Business_and_Organization_Deta

Business and Organization (Details) (USD $)	0 Months Ended	74 Months Ended	12 Months Ended
	Jul. 01, 2013	Mar. 26, 2015	Dec. 31, 2014	Dec. 31, 2013
Authorized shares of common stock and preferred stock
Limited partnership interest in the operating partnership			99.98%
Common stock, shares authorized			400,000,000	400,000,000
Common stock, par value			0.01	$0.01
Preferred stock, shares authorized			50,000,000	50,000,000
Preferred stock, par value			0.01	$0.01
Common stock filed in a registration statement with SEC, for issuance pursuant to DRP (in shares)	7,600,000
Subsequent event
Authorized shares of common stock and preferred stock
Gross proceeds from total offering		$1,200,000,000
Maximum
Authorized shares of common stock and preferred stock
Preferred stock, shares authorized			50,000,000
Common stock filed in a registration statement with SEC, for issuance pursuant to primary offering (in shares)			100,000,000
Common stock filed in a registration statement with SEC, for issuance pursuant to DRP (in shares)			10,526,315
Maximum | Dividend Reinvestment Plan | Sponsor
Authorized shares of common stock and preferred stock
Common stock filed in a registration statement with SEC, for issuance pursuant to DRP (in shares)			15,000,000
Advisor
Authorized shares of common stock and preferred stock
Non-controlling interest contributions in operating partnership			1,000	1,000,000
Special Units Holder
Authorized shares of common stock and preferred stock
Non-controlling interest contributions in operating partnership			1,000	$1,000,000

Summary_of_Significant_Account3

Summary of Significant Accounting Policies - Principles of Consolidation (Narrative) (Details) (USD $)	Dec. 31, 2014
In Millions, unless otherwise specified	investment
Variable Interest Entities
Number of entities related to investments and financing (investment)	1
Carrying value of VIE	$52.60

Summary_of_Significant_Account4

Summary of Significant Accounting Policies - Operating Real Estate (Details)	12 Months Ended
	Dec. 31, 2014
Building (fee interest) | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	30 years
Building (fee interest) | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	40 years
Building (leasehold interest) | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	40 years
Land improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Land improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	30 years

Summary_of_Significant_Account5

Summary of Significant Accounting Policies - Acquisition Fees and Expenses (Narrative) (Details)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Percent of acquisition fee to total contract price	6.00%

Summary_of_Significant_Account6

Summary of Significant Accounting Policies - Credit Losses and Impairment on Investments (Narrative) (Details)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Period past due for suspension of income recognition	90 days

Summary_of_Significant_Account7

Summary of Significant Accounting Policies - Derivatives (Narrative) (Details) (Interest rate floor, USD $)	Dec. 31, 2014
	interest_rate_floor
Interest rate floor
Derivatives
Number of contracts (interest rate floor)	1
Fair value	$2,800,000
Notional amount	$225,000,000

Summary_of_Significant_Account8

Summary of Significant Accounting Policies - Organization and Offering Costs (Narrative) (Details) (USD $)	12 Months Ended		53 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2013	Dec. 31, 2014
Related Party Transaction [Line Items]
Gross proceeds from issuance of common stock	$512,800,000	$433,000,000	$1,072,900,000
NS Real Estate Income Trust Advisor, LLC
Related Party Transaction [Line Items]
Gross proceeds from issuance of common stock				1,072,900,000
Estimated reimbursable organization and offering costs, excluding selling commissions and dealer manager fee, as a percentage of total proceeds available to be raised from the primary offering				1.00%
NS Real Estate Income Trust Advisor, LLC | Maximum
Related Party Transaction [Line Items]
Percentage of gross offering proceeds from the Primary Offering reimbursable as organization and offering costs				15.00%
Expected reimbursable organization and offering costs, excluding selling commissions and dealer manager fee				$15,000,000
Expected reimbursable organization and offering costs, excluding selling commissions and dealer manager fee, as a percentage of total proceeds available to be raised from the primary offering				1.50%

Summary_of_Significant_Account9

Summary of Significant Accounting Policies - Income Taxes (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014
Income Taxes [Line Items]
Deferred income tax expense	$3.90
Accounts payable and accrued expenses [Member]
Income Taxes [Line Items]
Current income taxes payable	1.4
Deferred income taxes payable	4.9
Earnings (losses) of unconsolidated ventures [Member]
Income Taxes [Line Items]
Current income tax expense	1.5
Deferred income tax expense	2
Unrealized gain (loss) on investments [Member]
Income Taxes [Line Items]
Deferred income tax expense	$1.90

Real_Estate_Debt_Investments_C

Real Estate Debt Investments - CRE Debt Investments (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Jun. 30, 2014
	loan	loan
CRE debt investments
Number	30	33
Principal Amount	$1,384,155,000	$1,135,323,000
Carrying Value	1,327,925,000	1,074,773,000
Allocation by Investment Type	100.00%	100.00%
Floating Rate as % of Principal Amount	91.10%	92.40%
Restricted cash	125,459,000	223,002,000
Carrying value		1,092,273,000
Principal amount of investments financed by borrowings	1,324,810,000
Joint Venture
CRE debt investments
Number	9
Principal Amount	564,400,000
Mortgage Loans on Real Estate, LIBOR
CRE debt investments
Face amount of investment	1,027,600,000	898,200,000
Securitization Bonds Payable
CRE debt investments
Carrying value served as collateral	632,800,000	711,500,000
Restricted cash	800,000
Term Loan Facilities
CRE debt investments
Carrying value served as collateral	385,700,000	30,900,000
Securitization 2013-1
CRE debt investments
Restricted cash		42,600,000
Weighted Average
CRE debt investments
Fixed Rate	10.85%	13.02%
Spread over LIBOR	6.55%	7.97%
Total Unleveraged Current Yield	7.28%	8.43%
Weighted Average | Mortgage Loans on Real Estate, LIBOR
CRE debt investments
Mortgage loans on real estate variable rate basis floor	0.66%
Weighted Average | Mortgage Loans on Real Estate, LIBOR | Variable Interest Entity, Primary Beneficiary | Collateralized Debt Obligations
CRE debt investments
Mortgage loans on real estate variable rate basis floor		1.07%
First mortgage loans
CRE debt investments
Number	22	30
Principal Amount	1,123,192,000	973,380,000
Carrying Value	1,092,958,000	957,427,000
Allocation by Investment Type	81.20%	85.70%
Floating Rate as % of Principal Amount	100.00%	94.80%
Principal amount of investments financed by borrowings	1,091,040,000
First mortgage loans | Weighted Average
CRE debt investments
Fixed Rate	0.00%	12.96%
Spread over LIBOR	6.16%	7.36%
Total Unleveraged Current Yield	6.19%	7.72%
Mezzanine loans
CRE debt investments
Number	6	2
Principal Amount	149,669,000	128,693,000
Carrying Value	123,011,000	101,596,000
Allocation by Investment Type	10.80%	11.40%
Floating Rate as % of Principal Amount	92.00%	100.00%
Principal amount of investments financed by borrowings		17,500,000
Mezzanine loans | Joint Venture
CRE debt investments
Principal Amount			183,700,000
Carrying Value	54,800,000
Real estate consolidated joint venture ownership interest			78.00%
Mezzanine loans | Weighted Average
CRE debt investments
Fixed Rate	10.10%	0.00%
Spread over LIBOR	13.95%	13.49%
Total Unleveraged Current Yield	13.66%	13.61%
Subordinate interests
CRE debt investments
Number	1	1
Principal Amount	33,250,000	33,250,000
Carrying Value	33,250,000	33,250,000
Allocation by Investment Type	2.40%	2.90%
Floating Rate as % of Principal Amount	0.00%	0.00%
Principal amount of investments financed by borrowings	33,250,000
Subordinate interests | Weighted Average
CRE debt investments
Fixed Rate	13.11%	13.11%
Spread over LIBOR	0.00%	0.00%
Total Unleveraged Current Yield	13.24%	13.24%
Preferred Equity Investment
CRE debt investments
Number	1
Principal Amount	78,044,000
Carrying Value	78,706,000
Allocation by Investment Type	5.60%
Floating Rate as % of Principal Amount	0.00%
Proportionate interest in debt instrument, including future funding commitments	70,900,000
Preferred Equity Investment | Joint Venture
CRE debt investments
Real estate consolidated joint venture ownership interest	90.00%
Preferred Equity Investment | Weighted Average
CRE debt investments
Fixed Rate	10.00%
Spread over LIBOR	0.00%
Total Unleveraged Current Yield	10.00%
First mortgage loans, mezzanine loans and subordinate mortgage interests
CRE debt investments
Future funding commitments		$44,600,000

Real_Estate_Debt_Investments_R

Real Estate Debt Investments Real Estate Debt Investments (Narrative) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
	investment	loan
	loan
CRE debt investments
Number	30	33
Principal amount	$1,384,155	$1,135,323
Maturity period of debt instruments depending upon the asset type	4 years 3 months 18 days
Number of CRE investments not in accordance with contractual terms	1
Percent of interest income contributed by CRE debt investment	10.00%
Minimum
CRE debt investments
Period past due on contractual debt service payments for debt investments to be categorized as non-performing loans	90 days
Joint Venture
CRE debt investments
Number	9
Principal amount	$564,400

Real_Estate_Debt_Investments_M

Real Estate Debt Investments - Maturities of CRE Debt Investments (Details) (USD $)	Dec. 31, 2014
Years Ending December 31:
Total	$1,324,810,000
Initial Maturity
Years Ending December 31:
2015	345,100,000
2016	323,600,000
2017	330,776,000
2018	0
2019	162,150,000
Thereafter	222,529,000
Total	1,384,155,000
Maturity Including Extensions
Years Ending December 31:
2015	0
2016	68,000,000
2017	287,100,000
2018	413,600,000
2019	242,776,000
Thereafter	372,679,000
Total	$1,384,155,000

Operating_Real_Estate_Operatin

Operating Real Estate - Operating Real Estate (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Real Estate [Abstract]
Land and improvements	$43,504	$12,018
Buildings and improvements	365,439	112,409
Furniture, fixtures and equipment	1,304	1,244
Subtotal	410,247	125,671
Less: Accumulated depreciation	-6,900	-503
Operating real estate, net	$403,347	$125,168

Operating_Real_Estate_Real_Est

Operating Real Estate - Real Estate Acquisitions (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
	property
Real Estate Acquisitions
Real Estate Investment Property, Net [Abstract]
Purchase Price	$297,482
Number of Units in Real Estate Property	14,000
Financing	215,683
Equity	69,458
Transaction Costs	2,608
Student Housing 2
Real Estate Investment Property, Net [Abstract]
Purchase Price	20,385
Number of Units in Real Estate Property	1,000
Units, number of beds	590
Financing	12,933
Equity	5,643
Ownership Interest	80.00%
Transaction Costs	324
Student Housing 3
Real Estate Investment Property, Net [Abstract]
Purchase Price	24,319
Number of Units in Real Estate Property	1,000
Units, number of beds	700
Financing	16,200
Equity	6,067
Ownership Interest	80.00%
Transaction Costs	378
Office 1
Real Estate Investment Property, Net [Abstract]
Purchase Price	149,352
Number of Units in Real Estate Property	7,000
Units, sq ft	884,833
Financing	108,850
Equity	34,852
Ownership Interest	95.00%
Transaction Costs	954
Office 2
Real Estate Investment Property, Net [Abstract]
Purchase Price	103,426
Number of Units in Real Estate Property	5,000
Units, sq ft	554,474
Financing	77,700
Equity	22,896
Ownership Interest	89.00%
Transaction Costs	$952

Operating_Real_Estate_Operatin1

Operating Real Estate Operating Real Estate - Pro Forma Revenues (Details) (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Real Estate [Abstract]
Pro forma total revenues	$158,931	$116,868
Pro forma net income (loss) attributable to NorthStar Real Estate Income Trust, Inc. common stockholders	$96,662	$74,432
Pro forma net income (loss) per share of common stock, basic/diluted	$0.83	$0.76

Operating_Real_Estate_Identifi

Operating Real Estate - Identifiable Assets and Liabilities (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets:
Land and improvements	$31,486	$12,018
Buildings and improvements	246,233	112,238
Other assets acquired	19,763	13,268
Total assets acquired	297,482	137,524
Liabilities:
Mortgage notes payable	215,683
Other liabilities assumed	4,750	871
Total liabilities	220,433	103,371
Total NorthStar Real Estate Income Trust, Inc. stockholders’ equity	69,458	29,361
Non-controlling interests	7,591	4,792
Total equity	77,049	34,153
Total liabilities and equity	$297,482	$137,524

Operating_Real_Estate_Final_Al

Operating Real Estate - Final Allocation of Purchase Price of Assets and Liabilities (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Land and improvements	$31,486	$12,018
Buildings and improvements	246,233	112,238
Other assets acquired	19,763	13,268
Total assets acquired	297,482	137,524
Liabilities:
Mortgage notes payable		102,500
Other liabilities assumed	4,750	871
Total liabilities	220,433	103,371
Total NorthStar Real Estate Income Trust, Inc. stockholders’ equity	69,458	29,361
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value	7,591	4,792
Total equity	77,049	34,153
Total liabilities and equity	$297,482	$137,524

Investments_in_Unconsolidated_2

Investments in Unconsolidated Ventures - Summary of PE Investments (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Feb. 28, 2013
				fund
Schedule of Equity Method Investments
Equity in Earnings (1)	$36,194,000	$28,028,000	$0
Cash Contributions	52,885,000	204,192,000	0
Unrealized gain (loss) on investments and other	11,764,000	0	-2,457,000
Deferred income tax expense	3,900,000
Unrealized gain (loss) on investments [Member]
Schedule of Equity Method Investments
Deferred income tax expense	1,900,000
PE Investment
Schedule of Equity Method Investments
Number of Funds	73
Purchase Price	193,700,000
Expected Future Contributions	4,000,000
Carrying Value	141,100,000	156,600,000
Equity in Earnings (1)	32,800,000	28,700,000
Cash Distributions	65,500,000	77,000,000
Cash Contributions	1,800,000	11,200,000
PE Investment I
Schedule of Equity Method Investments
Number of Funds	49			49
Purchase Price	118,000,000			118,000,000
Expected Future Contributions	3,000,000
Carrying Value	91,500,000	94,700,000
Equity in Earnings (1)	21,400,000	22,500,000
Cash Distributions	40,600,000	54,500,000
Cash Contributions	500,000	8,700,000
PE Investment II
Schedule of Equity Method Investments
Number of Funds	24
Purchase Price	75,700,000
Expected Future Contributions	1,000,000
Carrying Value	49,600,000	61,900,000
Equity in Earnings (1)	11,400,000	6,200,000
Cash Distributions	24,900,000	22,500,000
Cash Contributions	$1,300,000	$2,500,000

Investments_in_Unconsolidated_3

Investments in Unconsolidated Ventures - PE Investment I (Narrative) (Details) (PE Investment I, USD $)	1 Months Ended
In Millions, unless otherwise specified	Feb. 28, 2013	Dec. 31, 2014
		fund
Schedule of Equity Method Investments
Amount funded at initial closing of real estate private equity	118	$118
Ownership interest held by the entity together with sponsor	51.00%
Ownership interest in amount funded	29.50%
Number of real estate private equity funds contributed	49	49
Sponsor
Schedule of Equity Method Investments
Amount funded at initial closing of real estate private equity	282.1
Ownership interest in amount funded	70.50%
NorthStar Real Estate Income Trust Inc | Cash distribution until NorthStar Entities receive a 1.5x multiple on all of their invested capital
Schedule of Equity Method Investments
Cash distribution to the Class B Partner	85.00%
Multiplier factor for cash distribution to the NorthStar Entities	1.5
Cash distribution after multiplier to entity and related party	15.00%
NorthStar Real Estate Income Trust Inc | Remaining cash distribution
Schedule of Equity Method Investments
Cash distribution to the Class B Partner	51.00%
Class B Partner | Cash Distributions to Prior Owner of Funds Interests Until Receipt of Remaining Capital after 30 June 2012
Schedule of Equity Method Investments
Cash distribution to the NorthStar Entities	85.00%
Class B Partner | Class B Partner | Cash Distributions To Prior Owner Of Funds Interests Until NorthStar Receipt Of One And Half Of Invested Capital
Schedule of Equity Method Investments
Cash distribution to the NorthStar Entities	15.00%
Class B Partner | Class B Partner | Remaining cash distribution
Schedule of Equity Method Investments
Cash distribution to the NorthStar Entities	49.00%

Investments_in_Unconsolidated_4

Investments in Unconsolidated Ventures - PE Investment II (Narrative) (Details) (USD $)	12 Months Ended			6 Months Ended	0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2013	Mar. 31, 2015	Sep. 30, 2012
Schedule of Equity Method Investments
Deferred amount of reported net asset value	$400,000
Cash contribution to fund	52,885,000	204,192,000	0
PE Investment II
Schedule of Equity Method Investments
Number of real estate private equity funds contributed	24
Ownership interest in amount funded				15.00%
Amount to be paid to the Seller for all of the fund interests				504,800,000
Percentage of September 30, 2012 NAV paid as Initial Amount to Seller for all of the fund interests				55.00%
Deferred amount of reported net asset value	2,400,000			411,400,000
Percentage of September 30, 2012 NAV paid as Deferred Amount to Seller for all of the fund interests				45.00%
Entity's share in Deferred Amount	61,300,000
Period in which distribution will be made on priority basis since beginning, on the first day of the fiscal quarter following the closing date of each fund interest				2 years
Reduction in deferred amount as a percentage of amortization amount				15.00%
Investment percentage of distribution to seller				15.00%
Cash contribution to fund	1,300,000	2,500,000
Investment percentage of distribution receivable after payment of deferred amount (percent)	100.00%
PE Investment II | Sponsor
Schedule of Equity Method Investments
Number of real estate private equity funds contributed				24
Aggregate reported net asset value						910,000,000
Ownership interest in amount funded				70.00%
PE Investment II | Vintage Funds
Schedule of Equity Method Investments
Ownership interest in amount funded				15.00%
Forecast | PE Investment II
Schedule of Equity Method Investments
Cash contribution to fund					$9,200,000

Investments_in_Unconsolidated_5

Investments in Unconsolidated Ventures - Other (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Apr. 30, 2013	Jun. 30, 2014
Schedule of Equity Method Investments
Principal amount	$1,384,155,000	$1,135,323,000
Real estate debt investments, net	1,327,925,000	1,074,773,000
Equity in earnings (losses) of unconsolidated ventures	36,194,000	28,028,000	0
Ownership breakdown of total ownership				35.00%
Realized gain on sale	600,000
Sponsor
Schedule of Equity Method Investments
Ownership breakdown of total ownership				65.00%
Milford Plaza hotel | Registrant and Sponsor
Schedule of Equity Method Investments
Ownership percentage				35.00%
Joint Venture
Schedule of Equity Method Investments
Principal amount	564,400,000
Mezzanine loans
Schedule of Equity Method Investments
Principal amount	149,669,000	128,693,000
Real estate debt investments, net	123,011,000	101,596,000
Mezzanine loans | Joint Venture
Schedule of Equity Method Investments
Principal amount					183,700,000
Joint venture participating mortgage loan					50.00%
Real estate consolidated joint venture ownership interest					78.00%
Real estate debt investments, net	54,800,000
Equity in earnings (losses) of unconsolidated ventures	$2,800,000

Real_Estate_Securities_Availab2

Real Estate Securities, Available for Sale (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Real estate securities
Fair Value	$79,636,000	$66,450,000
CMBS
Real estate securities
Number of securities	7	8
Principal Amount	100,542,000	104,542,000
Amortized Cost	51,222,000	53,406,000
Cumulative Unrealized Gain on Investments	29,264,000	13,373,000
Cumulative Unrealized (Loss) on Investment	-850,000	-329,000
Fair Value	79,636,000	66,450,000
Weighted Average Coupon	4.63%	4.53%
Weighted Average, Unleveraged Current Yield	9.40%	9.07%
Carrying value of securities served as collateral for the company's financing transactions	$17,300,000

Real_Estate_Securities_Availab3

Real Estate Securities, Available for Sale (Narrative) (Details) (USD $)	1 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	security
Real estate securities
Unrealized gains (losses) recorded in OCI		$15,370,000	$12,586,000	$365,000
Aggregate carrying value	79,636,000	79,636,000	66,450,000
Number of securities sold	1
Proceeds from sales of real estate securities, available for sale	4,000,000	4,008,000	0	32,379,000
Realized gain on sale of real estate security	600,000
Maximum
Real estate securities
Period of unrealized loss position		12 months
CMBS
Real estate securities
Unrealized gains (losses) recorded in OCI		15,400,000	12,600,000	400,000
Number of securities	2	2
Aggregate carrying value	79,636,000	79,636,000	66,450,000
Unrealized loss		900,000
Weighted average contractual maturities of the CRE securities		33 years
Weighted average expected maturity of CRE securities		6 years 9 months 18 days
Loss Position
Real estate securities
Aggregate carrying value	$17,300,000	$17,300,000

Borrowings_Borrowings_Details

Borrowings - Borrowings (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
	extension
Debt Instrument [Line Items]
Principal Amount	$1,001,430,000	$638,182,000
Carrying Value	1,001,055,000	637,752,000
Securitization Bonds Payable
Debt Instrument [Line Items]
Principal Amount	413,885,000	507,359,000
Carrying Value	413,510,000	506,929,000
Securitization 2013-1
Debt Instrument [Line Items]
Principal Amount	367,363,000	382,700,000
Carrying Value	367,011,000	382,250,000
Securitization 2013-1 | LIBOR
Debt Instrument [Line Items]
Contractual Interest Rate	2.72%
Securitization 2012-1
Debt Instrument [Line Items]
Principal Amount	46,522,000	124,659,000
Carrying Value	46,499,000	124,679,000
Securitization 2012-1 | LIBOR
Debt Instrument [Line Items]
Contractual Interest Rate	2.43%
Mortgage notes payable
Debt Instrument [Line Items]
Principal Amount	318,062,000	102,500,000
Carrying Value	318,062,000	102,500,000
Multifamily 1
Debt Instrument [Line Items]
Contractual Interest Rate	4.84%
Principal Amount	43,500,000	43,500,000
Carrying Value	43,500,000	43,500,000
Multifamily 2
Debt Instrument [Line Items]
Contractual Interest Rate	4.94%
Principal Amount	43,000,000	43,000,000
Carrying Value	43,000,000	43,000,000
Office 1
Debt Instrument [Line Items]
Contractual Interest Rate	4.47%
Principal Amount	108,850,000	0
Carrying Value	108,850,000	0
Office 2
Debt Instrument [Line Items]
Contractual Interest Rate	4.30%
Principal Amount	77,700,000	0
Carrying Value	77,700,000	0
Student housing 1
Debt Instrument [Line Items]
Contractual Interest Rate	5.15%
Principal Amount	16,000,000	16,000,000
Carrying Value	16,000,000	16,000,000
Student housing 2
Debt Instrument [Line Items]
Contractual Interest Rate	5.27%
Principal Amount	12,812,000	0
Carrying Value	12,812,000	0
Number of separate senior mortgage notes presented together	2
Weighted average interest rate	5.27%
Student housing 3
Debt Instrument [Line Items]
Contractual Interest Rate	5.84%
Principal Amount	16,200,000	0
Carrying Value	16,200,000	0
Credit Facilities
Debt Instrument [Line Items]
Principal Amount	269,483,000	28,323,000
Carrying Value	269,483,000	28,323,000
Loan Facility 2
Debt Instrument [Line Items]
Contractual Interest Rate	2.70%
Principal Amount	85,100,000	0
Carrying Value	85,100,000	0
Percentage of repurchase price for purchased assets for which a recourse is available for debt yielding equal to or greater than 10% at the time of financing	25.00%
Percentage of repurchase price for purchased assets for which a recourse is available for debt yield less than 10% at the time of financing	100.00%
Number of optional extensions to initial maturity date available to the entity	3
Optional extension period of initial maturity date	1 year
Loan Facility 2 | Minimum
Debt Instrument [Line Items]
Interest rate margin	2.00%
Loan Facility 2 | Maximum
Debt Instrument [Line Items]
Interest rate margin	4.00%
Loan Facility 3
Debt Instrument [Line Items]
Principal Amount	0	16,638,000
Carrying Value	0	16,638,000
Number of optional extensions to initial maturity date available to the entity	3
Optional extension period of initial maturity date	1 year
Loan Facility 3 | Minimum
Debt Instrument [Line Items]
Interest rate margin	3.95%
Loan Facility 3 | Maximum
Debt Instrument [Line Items]
Interest rate margin	5.95%
Loan Facility 4
Debt Instrument [Line Items]
Contractual Interest Rate	2.70%
Principal Amount	172,698,000	0
Carrying Value	172,698,000	0
Number of optional extensions to initial maturity date available to the entity	2
Optional extension period of initial maturity date	1 year
Percentage of financed amount of stabilized loans for which recourse is available	25.00%
Financed amount of loans for which recourse is available	25,000,000
Loan Facility 4 | Minimum
Debt Instrument [Line Items]
Interest rate margin	2.50%
Loan Facility 4 | Maximum
Debt Instrument [Line Items]
Interest rate margin	3.00%
CMBS Facilities
Debt Instrument [Line Items]
Contractual Interest Rate	1.42%
Principal Amount	11,685,000	11,685,000
Carrying Value	$11,685,000	$11,685,000
CMBS Facilities | Minimum
Debt Instrument [Line Items]
Maturity period of debt instruments depending upon the asset type	2 months
CMBS Facilities | Maximum
Debt Instrument [Line Items]
Maturity period of debt instruments depending upon the asset type	3 months

Borrowings_Future_Payments_Det

Borrowings - Future Payments (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Years Ending December 31:
2015	$11,685
2016	16,200
2017	0
2018	172,698
2019	0
Thereafter	800,847
Total	1,001,430	638,182
Securitization Bonds Payable
Years Ending December 31:
2015	0
2016	0
2017	0
2018	0
2019	0
Thereafter	413,885
Total	413,885	507,359
Mortgage Notes Payable
Years Ending December 31:
2015	0
2016	16,200
2017	0
2018	0
2019	0
Thereafter	301,862
Total	318,062	102,500
Credit Facilities
Years Ending December 31:
2015	11,685
2016	0
2017	0
2018	172,698
2019	0
Thereafter	85,100
Total	$269,483	$28,323

Borrowings_Narrative_Details

Borrowings (Narrative) (Details) (USD $)	1 Months Ended	12 Months Ended			1 Months Ended
	Aug. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Nov. 30, 2012	Feb. 28, 2012	Apr. 30, 2013	Jul. 31, 2012	Mar. 31, 2013	Sep. 30, 2012
	investment	investment			investment					agreement
Debt Instrument [Line Items]
Number of securitization financing transactions entered		2
Principal amount of investments financed by borrowings		$1,324,810,000
Number of CRE debt investments contributed	4
Aggregate principal amount of CRE debt investment contributed	105,500,000
Amount of borrowings repaid		16,638,000	197,548,000	117,727,000
Carrying Value		1,001,055,000	637,752,000
Securities Investment
Debt Instrument [Line Items]
Amount outstanding		11,700,000
Senior Loans
Debt Instrument [Line Items]
Debt instrument debt created from bifurcation	79,100,000
Loan Facilities
Debt Instrument [Line Items]
Carrying Value		257,800,000
Number of term loan facilities		2
Loan Facility 1
Debt Instrument [Line Items]
Maximum borrowing capacity						100,000,000
Loan Facility 2
Debt Instrument [Line Items]
Maximum borrowing capacity					100,000,000		150,000,000	50,000,000
Carrying Value		85,100,000	0
Loan Facility 2 | Minimum
Debt Instrument [Line Items]
Interest rate margin		2.00%
Unrestricted cash or cash equivalents required to be maintained under financial covenants		3,800,000
Loan Facility 2 | Maximum
Debt Instrument [Line Items]
Interest rate margin		4.00%
Unrestricted cash or cash equivalents required to be maintained under financial covenants		22,500,000
Loan Facility 3
Debt Instrument [Line Items]
Maximum borrowing capacity								40,000,000
Carrying Value		0	16,638,000
Loan Facility 3 | Minimum
Debt Instrument [Line Items]
Interest rate margin		3.95%
Unrestricted cash or cash equivalents required to be maintained under financial covenants		3,800,000
Loan Facility 3 | Maximum
Debt Instrument [Line Items]
Interest rate margin		5.95%
Unrestricted cash or cash equivalents required to be maintained under financial covenants		7,500,000
Loan Facility 4
Debt Instrument [Line Items]
Maximum borrowing capacity									200,000,000
Carrying Value		172,698,000	0
Loan Facility 4 | Minimum
Debt Instrument [Line Items]
Interest rate margin		2.50%
Unrestricted cash or cash equivalents required to be maintained under financial covenants		20,000,000
Loan Facility 4 | Maximum
Debt Instrument [Line Items]
Interest rate margin		3.00%
Secured Term Loans
Debt Instrument [Line Items]
Carrying value served as collateral		385,700,000	30,900,000
CMBS Facilities
Debt Instrument [Line Items]
Carrying Value		11,685,000	11,685,000
Number of master repurchase agreements entered into										2
Securitization 2013-1
Debt Instrument [Line Items]
Principal amount of investments financed by borrowings	531,500,000
Number of CRE debt investments contributed	8
Aggregate principal amount of CRE debt investment contributed	346,100,000
Value of bonds issued	382,700,000
Advance rates	72.00%
Interest rate margin	2.72%
Amount of borrowings repaid	222,700,000
Securitization 2013-1 | Senior Loans
Debt Instrument [Line Items]
Number of CRE debt investments contributed	3
Debt instrument debt created from bifurcation	79,100,000
Securitization 2012-1
Debt Instrument [Line Items]
Principal amount of investments financed by borrowings					351,400,000
Number of CRE debt investments contributed					9
Aggregate principal amount of CRE debt investment contributed					199,200,000
Value of bonds issued					227,500,000
Advance rates					65.00%
Interest rate margin					2.10%
Equity interest retained in CRE debt investments contributed					70,000,000
Value of bonds used to finance the assets contributed					129,500,000
Securitization 2012-1 | Loan Facilities
Debt Instrument [Line Items]
Amount of borrowings repaid					117,700,000
CMBS
Debt Instrument [Line Items]
Available for sale securities pledged as collateral, carrying value		$17,300,000

Related_Party_Arrangements_Fee

Related Party Arrangements - Fees to Advisor - Asset Management Fee (Narrative) (Details) (Advisor, Asset management)	12 Months Ended
	Dec. 31, 2014
Advisor | Asset management
Related Party Transaction [Line Items]
Monthly Asset Management Fee Rate	0.10%
Annual Asset Management Fee Rate	1.25%
Asset Management Fee Monthly Factor	0.0833

Related_Party_Arrangements_Acq

Related Party Arrangements - Acquisition Fee (Narrative) (Details) (NS Real Estate Income Trust Advisor, LLC, Acquisition)	12 Months Ended
	Dec. 31, 2014
NS Real Estate Income Trust Advisor, LLC | Acquisition
Related Party Transaction [Line Items]
Asset acquisition fee as percentage of principal amount funded to originate CRE debt or other real estate investments (percent)	1.00%

Related_Party_Arrangements_Dis

Related Party Arrangements - Disposition Fee (Narrative) (Details) (NS Real Estate Income Trust Advisor, LLC, Disposition)	12 Months Ended
	Dec. 31, 2014
Related Party Transaction [Line Items]
Asset disposition fee as percentage of contract sales price of CRE debt, CRE security or select CRE equity investment sold (percent)	1.00%
Maximum
Related Party Transaction [Line Items]
Asset disposition fee as a percentage of the principal amount of the CRE debt investment prior to the specified transaction	1.00%

Related_Party_Arrangements_Rei

Related Party Arrangements - Reimbursements to Advisor - Operating Costs (Narrative) (Details) (NS Real Estate Income Trust Advisor, LLC, Operating costs)	12 Months Ended
	Dec. 31, 2014
	Quarter
Related Party Transaction [Line Items]
Number of preceding fiscal quarters considered for reimbursement of operating costs (quarters)	4
Period for true-up calculation of expense reimbursements	12 months
Maximum
Related Party Transaction [Line Items]
Percentage of average invested assets reimbursable as operating costs	2.00%
Percentage of net income, without reduction for any additions to reserves for depreciation, loan losses or other similar non-cash reserves and excluding any gain from the sale of the Company's assets, considered for reimbursement of operating costs	25.00%

Related_Party_Arrangements_Org

Related Party Arrangements - Organization and Offering Costs (Narrative) (Details) (USD $)	12 Months Ended		53 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2013	Dec. 31, 2014
Related Party Transaction [Line Items]
Gross proceeds from issuance of common stock	$512,800,000	$433,000,000	$1,072,900,000
NS Real Estate Income Trust Advisor, LLC
Related Party Transaction [Line Items]
Gross proceeds from issuance of common stock				1,072,900,000
Estimated reimbursable organization and offering costs, excluding selling commissions and dealer manager fee, as a percentage of total proceeds available to be raised from the primary offering				1.00%
Maximum underwriting compensation including selling commissions, the dealer manager fee and amounts reimbursed				10.00%
Maximum | NS Real Estate Income Trust Advisor, LLC
Related Party Transaction [Line Items]
Percentage of gross offering proceeds from the Primary Offering reimbursable as organization and offering costs				15.00%
Expected reimbursable organization and offering costs, excluding selling commissions and dealer manager fee				$15,000,000
Expected reimbursable organization and offering costs, excluding selling commissions and dealer manager fee, as a percentage of total proceeds available to be raised from the primary offering				1.50%

Related_Party_Arrangements_Dea

Related Party Arrangements - Dealer Manager - Selling Commissions and Dealer Manager Fees (Narrative) (Details) (Maximum, Dealer Manager, Selling commissions/Dealer manager fees)	12 Months Ended
	Dec. 31, 2014
Maximum | Dealer Manager | Selling commissions/Dealer manager fees
Related Party Transaction [Line Items]
Selling commissions as a percentage of gross offering proceeds from primary offering	7.00%
Dealer manager fee as a percentage of gross offering proceeds from primary offering	3.00%

Related_Party_Arrangements_Sum

Related Party Arrangements - Summary of Fees and Reimbursements (Details) (USD $)	72 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Related Party Transaction [Line Items]
Due to related party	$0	$0	$3,076,000
Acquisition
Related Party Transaction [Line Items]
Fees deferred by advisor	500,000
Disposition
Related Party Transaction [Line Items]
Fees deferred by advisor	400,000
NS Real Estate Income Trust Advisor, LLC
Related Party Transaction [Line Items]
Due to related party	0	0	3,076,000
NS Real Estate Income Trust Advisor, LLC | Asset management
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction		21,969,000	13,600,000	3,360,000
Due to related party	0	0	1,607,000
NS Real Estate Income Trust Advisor, LLC | Acquisition
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction		8,176,000	10,194,000	4,753,000
Due to related party	0	0	0
NS Real Estate Income Trust Advisor, LLC | Disposition
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction		2,456,000	1,178,000	24,000
Due to related party	0	0	10,000
NS Real Estate Income Trust Advisor, LLC | Operating Costs
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction		11,507,000	7,786,000	2,397,000
Due to related party	0	0	1,459,000
NS Real Estate Income Trust Advisor, LLC | Organization Costs
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction		0	62,000	470,000
Due to related party	0	0	0
NS Real Estate Income Trust Advisor, LLC | Offering
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction		0	2,989,000	5,564,000
Due to related party	0	0	0
NS Real Estate Income Trust Advisor, LLC | Selling commissions/Dealer manager fees
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction			$49,500,000	$42,400,000

Related_Party_Arrangements_Nor

Related Party Arrangements - NorthStar Realty Purchase of Common Stock (Narrative) (Details) (USD $)	12 Months Ended			72 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2014
Related Party Transaction [Line Items]
Net proceeds from issuance of common stock	$460,225,000	$385,098,000
Sponsor
Related Party Transaction [Line Items]
Purchase price of common stock (in dollars per share)			$9
Number of shares purchased during the period		254,778		507,980
Net proceeds from issuance of common stock		2,300,000		4,600,000
Maximum | Sponsor
Related Party Transaction [Line Items]
Value of shares of common stock committed to be purchased			$10,000,000	$10,000,000

Related_Party_Arrangements_Sec

Related Party Arrangements - Securitization 2013-1 (Narrative) (Details) (USD $)	1 Months Ended
	Aug. 31, 2013
	investment
Related Party Transaction [Line Items]
Number of CRE debt investments contributed	4
Aggregate principal amount of CRE debt investment contributed	$105,500,000
Number of senior loans transferred (investments)	3
Securitization 2013-1
Related Party Transaction [Line Items]
Number of CRE debt investments contributed	8
Aggregate principal amount of CRE debt investment contributed	346,100,000
Senior Loans
Related Party Transaction [Line Items]
Debt instrument debt created from bifurcation	79,100,000
Senior Loans | Securitization 2013-1
Related Party Transaction [Line Items]
Number of CRE debt investments contributed	3
Debt instrument debt created from bifurcation	$79,100,000

Related_Party_Arrangements_PE_

Related Party Arrangements - PE Investment I (Narrative) (Details) (PE Investment I, USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014
Related Party Transaction [Line Items]
Fair Value Method Investment Ownership Percentage Owned with Related Party	29.50%
Aggregate cash contribution to fund	$400.10
Payment To Acquire Equity Method Investments	118
Sponsor
Related Party Transaction [Line Items]
Payment To Acquire Equity Method Investments	$282.10

EquityBased_Compensation_Detai

Equity-Based Compensation (Details) (USD $)	12 Months Ended			0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2012
Equity-Based Compensation, Director's share
Number of shares granted in period	3,500	3,500	2,500
Recognized equity-based compensation expense, related to issuance of common stock	$125,621	$93,618	$60,140
Restricted stock
Equity-Based Compensation, Director's share
Number of shares granted to independent directors	51,000
Aggregate value for common shares granted to independent directors	$510,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	2 years			4 years

Stockholders_Equity_Narrative_

Stockholders' Equity (Narrative) (Details) (USD $)	12 Months Ended			53 Months Ended	72 Months Ended	0 Months Ended		3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2013	Dec. 31, 2014	Mar. 03, 2015	Jan. 01, 2015	Mar. 26, 2015
Common Stock
Number of shares issued		51,500,000	43,400,000	107,600,000
Gross proceeds from issuance of common stock		$512,800,000	$433,000,000	$1,072,900,000
Distribution Reinvestment Plan
Initial purchase price per share under the DRP	$9.50
Selling commissions or dealer manager fees that will be paid for sales under DRP	0
Notice period served by board of directors to amend or terminate DRP	10 days
Number of shares issued pursuant to DRP	4,500,000	3,400,000	1,100,000		9,200,000
Total proceeds from sale of shares pursuant to DRP	42,659,000	32,649,000	10,305,000		87,100,000
Distributions
Daily amount of distribution accrued per share	$0.00
Annual distribution rate	8.00%
Share Repurchase Program
Holding period of shares required for repurchase	1 year
Number of shares repurchased	1,190,000	593,226	141,503
Shares redeemed for cash	-11,468,000	-5,694,000	-1,371,000
Repurchase price paid per share	$9.61
Common Stock
Share Repurchase Program
Shares redeemed for cash		-5,700,000	-1,400,000
Repurchase price paid per share		$9.60	$9.69
Subsequent event
Distribution Reinvestment Plan
Value per share							$9.52
Price of shares issued as a percentage of estimated value per share							95.00%
Distributions
Daily amount of distribution accrued per share						$0.00
Share Repurchase Program
Number of shares repurchased								300,000
Shares redeemed for cash								($2,700,000)
Repurchase price paid per share								$9.65
Subsequent event | Common Stock
Share Repurchase Program
Share price for Share Repurchase Program							$9.52
Percentage of estimated value per share							95.00%

Stockholders_Equity_Distributi

Stockholders' Equity - Distributions Declared (Details) (USD $)	3 Months Ended												12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Stockholders' Equity Note [Abstract]
Cash	$12,717	$12,674	$12,492	$12,369	$12,678	$12,644	$10,694	$7,728	$6,088	$4,535	$3,307	$2,378	$50,252	$43,744	$16,308
DRP	10,997	10,885	10,650	10,338	10,359	10,213	8,170	5,736	4,547	3,272	2,293	1,502	42,870	34,478	11,614
Total	$23,714	$23,559	$23,142	$22,707	$23,037	$22,857	$18,864	$13,464	$10,635	$7,807	$5,600	$3,880	$93,122	$78,222	$27,922
Percentage of distributions paid as ordinary income													69.00%
Percentage of distributions paid as capital gain income													7.00%
Percentage of distributions paid as return of capital													24.00%

Noncontrolling_Interests_Detai

Non-controlling Interests (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Noncontrolling Interest [Abstract]
Net income (loss) attributable to other non-controlling interests	$171	$254	$0

Fair_Value_Financial_Assets_Re

Fair Value - Financial Assets Recorded on a Recurring Basis (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Financial assets accounted for at fair value on a recurring basis by level within fair value hierarchy
Investments in private equity funds, at fair value	$195,860	$156,616
Real estate securities, available for sale	79,636	66,450
Recurring basis
Financial assets accounted for at fair value on a recurring basis by level within fair value hierarchy
Investments in private equity funds, at fair value	141,091	156,616
Real estate securities, available for sale	79,636	66,450
Recurring basis | Level 1
Financial assets accounted for at fair value on a recurring basis by level within fair value hierarchy
Investments in private equity funds, at fair value	0
Real estate securities, available for sale	0
Recurring basis | Level 2
Financial assets accounted for at fair value on a recurring basis by level within fair value hierarchy
Investments in private equity funds, at fair value	0
Real estate securities, available for sale	79,636	66,450
Recurring basis | Level 3
Financial assets accounted for at fair value on a recurring basis by level within fair value hierarchy
Investments in private equity funds, at fair value	141,091	156,616	0
Real estate securities, available for sale	$0

Fair_Value_Additional_Informat

Fair Value - Additional Information for PE Investments (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Additional information about financial assets
Beginning balance	$156,616
Unrealized Gain (Loss) on Investments and Other Cash Flow Impact	11,764	0	-2,457
Ending balance	195,860	156,616
Recurring basis
Additional information about financial assets
Ending balance	141,091	156,616
Recurring basis | Level 3
Additional information about financial assets
Beginning balance	156,616	0
Purchases/contributions	1,766	204,924
Distributions	-65,490	-76,973
Equity in earnings (1)	34,549	28,665
Unrealized Gain (Loss) on Investments and Other Cash Flow Impact	13,650	0
Ending balance	$141,091	$156,616

Fair_Value_Fair_Value_Hierarch

Fair Value - Fair Value Hierarchy (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred income tax expense	$3,900,000
Financial assets measured at non-recurring basis	0	0
Financial liabilities measured at non-recurring basis	0	0
Unrealized gain	11,800,000
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	20.00%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	27.00%
Earnings (losses) of unconsolidated ventures [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current and deferred taxes	1,800,000
Deferred income tax expense	2,000,000
Unrealized gain (loss) on investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred income tax expense	$1,900,000

Fair_Value_Principal_Amount_Ca

Fair Value - Principal Amount, Carrying Value and Fair Value of Assets and Liabilities (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Financial assets:
Real estate debt investments, net	$1,327,925,000	$1,074,773,000
Real estate debt investments, held for sale	0	17,500,000
Real estate securities, available for sale	79,636,000	66,450,000
Financial liabilities:
Securitization bonds payable	413,510,000	506,929,000
Credit facilities	269,483,000	28,323,000
Principal Amount
Financial assets:
Real estate debt investments, net	1,324,810,000	1,073,189,000
Real estate debt investments, held for sale	0	17,500,000
Real estate securities, available for sale	100,542,000	104,542,000
Financial liabilities:
Securitization bonds payable	413,885,000	507,359,000
Mortgage notes payable	318,062,000	102,500,000
Credit facilities	269,483,000	28,323,000
Future funding commitments related to real estate debt investments	59,300,000	44,600,000
Carrying Value
Financial assets:
Real estate debt investments, net	1,327,925,000	1,074,773,000
Real estate debt investments, held for sale	0	17,500,000
Real estate securities, available for sale	79,636,000	66,450,000
Financial liabilities:
Securitization bonds payable	413,510,000	506,929,000
Mortgage notes payable	318,062,000	102,500,000
Credit facilities	269,483,000	28,323,000
Fair Value
Financial assets:
Real estate debt investments, net	1,389,365,000	1,197,383,000
Real estate debt investments, held for sale	0	17,500,000
Real estate securities, available for sale	79,636,000	66,450,000
Financial liabilities:
Securitization bonds payable	415,284,000	507,212,000
Mortgage notes payable	319,125,000	102,500,000
Credit facilities	$269,483,000	$28,323,000

Fair_Value_Credit_Facilities_N

Fair Value - Credit Facilities (Narrative) (Details)	Dec. 31, 2014
	credit_facility
Fair Value Disclosures [Abstract]
Number of term credit facilities under which amounts are outstanding	4

Segment_Reporting_Details

Segment Reporting (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	segment
Segment Reporting
Number of segments	4
Net interest income	$81,597	$62,374	$21,302
Rental and other income	29,342	1,970
Expenses	70,341	31,355	6,569
Realized gain (loss) on investments and other	397	0	3,028
Unrealized gain (loss) on investments and other	11,764	0	-2,457
Income (loss) before equity in earnings (losses) of unconsolidated ventures	52,759	32,989	15,304
Equity in earnings (losses) of unconsolidated ventures	36,194	28,028	0
Net income (loss)	88,953	61,017	15,304
Investments in unconsolidated ventures	195,860	156,616
Assets	2,192,898	1,831,104
Corporate
Segment Reporting
Net interest income	0	0	0
Rental and other income	0	0
Expenses	36,783	22,105	6,395
Realized gain (loss) on investments and other	0		0
Unrealized gain (loss) on investments and other	0		0
Income (loss) before equity in earnings (losses) of unconsolidated ventures	-36,783	-22,105	-6,395
Equity in earnings (losses) of unconsolidated ventures	0	0
Net income (loss)	-36,783	-22,105	-6,395
Investments in unconsolidated ventures	0	0
Assets	17,609	114,305
Real Estate Debt
Segment Reporting
Net interest income	75,780	57,189	20,442
Rental and other income	0	0
Expenses	991	606	158
Realized gain (loss) on investments and other	-175		0
Unrealized gain (loss) on investments and other	0		0
Income (loss) before equity in earnings (losses) of unconsolidated ventures	74,614	56,583	20,284
Equity in earnings (losses) of unconsolidated ventures	3,421	0
Net income (loss)	78,035	56,583	20,284
Investments in unconsolidated ventures	54,769	0
Assets	1,516,904	1,347,461
Real Estate Equity
Segment Reporting
Net interest income	0	0
Rental and other income	29,342	1,970
Expenses	32,539	8,632
Realized gain (loss) on investments and other	0
Unrealized gain (loss) on investments and other	11,764
Income (loss) before equity in earnings (losses) of unconsolidated ventures	8,567	-6,662
Equity in earnings (losses) of unconsolidated ventures	32,773	28,028
Net income (loss)	41,340	21,366
Investments in unconsolidated ventures	141,091	156,616
Assets	578,399	302,501
Real Estate Securities
Segment Reporting
Net interest income	5,817	5,185	860
Rental and other income	0	0
Expenses	28	12	16
Realized gain (loss) on investments and other	572		3,028
Unrealized gain (loss) on investments and other	0		-2,457
Income (loss) before equity in earnings (losses) of unconsolidated ventures	6,361	5,173	1,415
Equity in earnings (losses) of unconsolidated ventures	0	0
Net income (loss)	6,361	5,173	1,415
Investments in unconsolidated ventures	0	0
Assets	$79,986	$66,837

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	12 Months Ended			72 Months Ended	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014	Mar. 26, 2015
Distribution Reinvestment Plan
Number of shares issued pursuant to DRP	4,500,000	3,400,000	1,100,000	9,200,000
Total proceeds from sale of shares pursuant to DRP	$42,659	$32,649	$10,305	$87,100
Dividend Reinvestment Plan | Subsequent event
Distribution Reinvestment Plan
Number of shares issued pursuant to DRP					1,100,000
Total proceeds from sale of shares pursuant to DRP					$10,700
Common stock shares remaining available for sale pursuant to distribution reinvestment plan (shares)					7,600,000

Subsequent_Events_Distribution

Subsequent Events - Distributions (Narrative) (Details) (USD $)	12 Months Ended	0 Months Ended
	Dec. 31, 2014	Mar. 03, 2015
Subsequent Events
Daily cash distribution accrued per share	$0.00
Subsequent event
Subsequent Events
Daily cash distribution accrued per share		$0.00

Subsequent_Events_Share_Repurc

Subsequent Events - Share Repurchases (Narrative) (Details) (USD $)	12 Months Ended			3 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 26, 2015
Subsequent Events
Stock Redeemed or Called During Period, Shares	1,190,000	593,226	141,503
Total amount of shares repurchased	$11,468	$5,694	$1,371
Repurchase price paid per share	$9.61
Subsequent event
Subsequent Events
Stock Redeemed or Called During Period, Shares				300,000
Total amount of shares repurchased				$2,700
Repurchase price paid per share				$9.65

Schedule_III_Real_Estate_and_A1

Schedule III - Real Estate and Accumulated Depreciation - Schedule of Real Estate (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$318,062
Initial Cost, Land	39,337
Initial Cost, Building & Improvements	363,887
Capitalized Subsequent to Acquisition, Land, Buildings & Improvements	7,023
Gross Amount Carried at Close of Period, Land	39,337
Gross Amount Carried at Close of Period, Building & Improvements	370,910
Gross Amount Carried at Close of Period, Total	410,247	125,671	0
Accumulated Depreciation	-6,900	-503	0
Total	403,347
Clemson, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	12,812
Initial Cost, Land	1,973
Initial Cost, Building & Improvements	17,755
Capitalized Subsequent to Acquisition, Land, Buildings & Improvements	56
Gross Amount Carried at Close of Period, Land	1,973
Gross Amount Carried at Close of Period, Building & Improvements	17,811
Gross Amount Carried at Close of Period, Total	19,784
Accumulated Depreciation	-435
Total	19,349
Life on Which Depreciation is Computed	30 years
Columbia, SC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	16,200
Initial Cost, Land	1,968
Initial Cost, Building & Improvements	21,500
Capitalized Subsequent to Acquisition, Land, Buildings & Improvements	165
Gross Amount Carried at Close of Period, Land	1,968
Gross Amount Carried at Close of Period, Building & Improvements	21,665
Gross Amount Carried at Close of Period, Total	23,633
Accumulated Depreciation	-463
Total	23,170
Life on Which Depreciation is Computed	30 years
Farmington Hills, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	43,000
Initial Cost, Land	3,161
Initial Cost, Building & Improvements	47,839
Capitalized Subsequent to Acquisition, Land, Buildings & Improvements	3,899
Gross Amount Carried at Close of Period, Land	3,161
Gross Amount Carried at Close of Period, Building & Improvements	51,738
Gross Amount Carried at Close of Period, Total	54,899
Accumulated Depreciation	-2,220
Total	52,679
Life on Which Depreciation is Computed	30 years
Kalamazoo, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	16,000
Initial Cost, Land	1,484
Initial Cost, Building & Improvements	19,516
Capitalized Subsequent to Acquisition, Land, Buildings & Improvements	887
Gross Amount Carried at Close of Period, Land	1,484
Gross Amount Carried at Close of Period, Building & Improvements	20,403
Gross Amount Carried at Close of Period, Total	21,887
Accumulated Depreciation	-846
Total	21,041
Life on Which Depreciation is Computed	30 years
New Orleans, LA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	43,500
Initial Cost, Land	3,206
Initial Cost, Building & Improvements	50,294
Capitalized Subsequent to Acquisition, Land, Buildings & Improvements	1,109
Gross Amount Carried at Close of Period, Land	3,206
Gross Amount Carried at Close of Period, Building & Improvements	51,403
Gross Amount Carried at Close of Period, Total	54,609
Accumulated Depreciation	-2,056
Total	52,553
Life on Which Depreciation is Computed	30 years
St. Louis, MO
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	108,850
Initial Cost, Land	19,895
Initial Cost, Building & Improvements	118,383
Capitalized Subsequent to Acquisition, Land, Buildings & Improvements	907
Gross Amount Carried at Close of Period, Land	19,895
Gross Amount Carried at Close of Period, Building & Improvements	119,290
Gross Amount Carried at Close of Period, Total	139,185
Accumulated Depreciation	-793
Total	138,392
Life on Which Depreciation is Computed	40 years
Warrendale, PA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	77,700
Initial Cost, Land	7,650
Initial Cost, Building & Improvements	88,600
Capitalized Subsequent to Acquisition, Land, Buildings & Improvements	0
Gross Amount Carried at Close of Period, Land	7,650
Gross Amount Carried at Close of Period, Building & Improvements	88,600
Gross Amount Carried at Close of Period, Total	96,250
Accumulated Depreciation	-87
Total	$96,163
Life on Which Depreciation is Computed	40 years

Schedule_III_Real_Estate_and_A2

Schedule III - Real Estate and Accumulated Depreciation - Schedule of Real Estate Portfolio (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Beginning balance	$125,671	$0
Property acquisitions	284,576	125,671
Ending balance	$410,247	$125,671

Schedule_III_Real_Estate_and_A3

Schedule III - Real Estate and Accumulated Depreciation - Schedule of Accumulated Depreciation (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
SEC Schedule III, Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Beginning balance	$503	$0
Depreciation expense	6,397	503
Ending balance	$6,900	$503

Schedule_IV_Mortgage_Loans_on_1

Schedule IV - Mortgage Loans on Real Estate - Mortgage Loans on Real Estate (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
	loan	loan
Mortgage Loans on Real Estate
Number	30	33
Prior Liens	$541,300,000
Principal Amount	1,324,810,000
Carrying Value	1,327,925,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Mortgage Loans on Real Estate Carrying Value of Individual Loan as Percentage of Total Carrying Amount	3.00%
First mortgage loans
Mortgage Loans on Real Estate
Number	22	30
Floating Interest Rate	6.30%
Fixed Interest Rate	0.00%
Prior Liens	0
Principal Amount	1,091,040,000
Carrying Value	1,092,958,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Mezzanine Loan [Member]
Mortgage Loans on Real Estate
Number	6
Floating Interest Rate	13.64%
Fixed Interest Rate	10.10%
Prior Liens	381,300,000
Principal Amount	122,476,000
Carrying Value	123,011,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Subordinate interests
Mortgage Loans on Real Estate
Number	1	1
Floating Interest Rate	0.00%
Fixed Interest Rate	13.11%
Prior Liens	160,000,000
Principal Amount	33,250,000
Carrying Value	33,250,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Preferred Equity Interest [Member]
Mortgage Loans on Real Estate
Number	1
Floating Interest Rate	0.00%
Fixed Interest Rate	10.00%
Prior Liens	0
Principal Amount	78,044,000
Carrying Value	78,706,000
Borrower A [Member] | First mortgage loans
Mortgage Loans on Real Estate
Number	1
Floating Interest Rate	6.45%
Fixed Interest Rate	0.00%
Prior Liens	0
Principal Amount	150,150,000
Carrying Value	150,150,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Borrower B [Member] | First mortgage loans
Mortgage Loans on Real Estate
Number	1
Floating Interest Rate	7.20%
Fixed Interest Rate	0.00%
Prior Liens	0
Principal Amount	91,000,000
Carrying Value	91,246,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Borrower C [Member] | First mortgage loans
Mortgage Loans on Real Estate
Number	1
Floating Interest Rate	1.76%
Fixed Interest Rate	0.00%
Prior Liens	0
Principal Amount	85,965,000
Carrying Value	85,965,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Borrower D [Member] | First mortgage loans
Mortgage Loans on Real Estate
Number	1
Floating Interest Rate	5.41%
Prior Liens	0
Principal Amount	85,000,000
Carrying Value	85,823,000
Borrower E [Member] | First mortgage loans
Mortgage Loans on Real Estate
Number	1
Floating Interest Rate	5.50%
Prior Liens	0
Principal Amount	78,500,000
Carrying Value	79,158,000
Borrower F [Member] | First mortgage loans
Mortgage Loans on Real Estate
Number	1
Floating Interest Rate	7.00%
Fixed Interest Rate	0.00%
Prior Liens	0
Principal Amount	73,000,000
Carrying Value	73,000,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Borrower G [Member] | First mortgage loans
Mortgage Loans on Real Estate
Number	1
Floating Interest Rate	6.75%
Fixed Interest Rate	0.00%
Prior Liens	0
Principal Amount	66,155,000
Carrying Value	66,155,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Borrower H [Member] | First mortgage loans
Mortgage Loans on Real Estate
Number	1
Floating Interest Rate	7.00%
Fixed Interest Rate	0.00%
Prior Liens	0
Principal Amount	60,300,000
Carrying Value	60,356,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Borrower I [Member] | First mortgage loans
Mortgage Loans on Real Estate
Number	1
Floating Interest Rate	7.00%
Fixed Interest Rate	0.00%
Prior Liens	0
Principal Amount	43,300,000
Carrying Value	43,300,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Borrower J [Member] | First mortgage loans
Mortgage Loans on Real Estate
Number	1
Floating Interest Rate	5.50%
Fixed Interest Rate	0.00%
Prior Liens	0
Principal Amount	42,000,000
Carrying Value	42,033,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Borrower K [Member] | First mortgage loans
Mortgage Loans on Real Estate
Number	1
Floating Interest Rate	8.50%
Fixed Interest Rate	0.00%
Prior Liens	0
Principal Amount	41,800,000
Carrying Value	41,800,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Borrower L [Member] | First mortgage loans
Mortgage Loans on Real Estate
Number	1
Floating Interest Rate	5.45%
Fixed Interest Rate	0.00%
Prior Liens	0
Principal Amount	40,000,000
Carrying Value	40,088,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Other First Mortgage [Member] | First mortgage loans
Mortgage Loans on Real Estate
Number	10
Floating Interest Rate	7.34%
Fixed Interest Rate	0.00%
Prior Liens	0
Principal Amount	233,870,000
Carrying Value	233,884,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Borrower M [Member] | Mezzanine Loan [Member]
Mortgage Loans on Real Estate
Number	1
Floating Interest Rate	15.56%
Fixed Interest Rate	0.00%
Prior Liens	46,500,000
Principal Amount	58,000,000
Carrying Value	58,566,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Other Mezzanine Loans [Member] | Mezzanine Loan [Member]
Mortgage Loans on Real Estate
Number	5
Floating Interest Rate	12.33%
Fixed Interest Rate	10.10%
Prior Liens	334,800,000
Principal Amount	64,476,000
Carrying Value	64,445,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Borrower N [Member] | Subordinate interests
Mortgage Loans on Real Estate
Number	1
Floating Interest Rate	0.00%
Fixed Interest Rate	13.11%
Prior Liens	160,000,000
Principal Amount	33,250,000
Carrying Value	33,250,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Preferred Equity Interest [Member] | Preferred Equity Interest [Member]
Mortgage Loans on Real Estate
Number	1
Floating Interest Rate	0.00%
Fixed Interest Rate	10.00%
Prior Liens	0
Principal Amount	78,044,000
Carrying Value	78,706,000
Principal Amount of Loans, Subject to Delinquent Principal or Interest	0
Future funding commitments
Mortgage Loans on Real Estate
Future funding commitments	$59,300,000	44,600,000

Schedule_IV_Mortgage_Loans_on_2

Schedule IV - Mortgage Loans on Real Estate - Reconciliation of Carrying Value of Commercial Real Estate Debt (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Movement in Mortgage Loans on Real Estate [Roll Forward]
Beginning balance	$1,092,273	$514,058	$72,937
Principal amount of new loans and additional funding on existing loans	488,020	613,575	445,474
Acquisition of real estate debt investments, related party	0	79,095	0
Interest accretion	1,318	-140	301
Acquisition cost (fees) on new loans	4,952	6,334	4,753
Origination fees received on new loans	-2,505	-4,479	-4,597
Collection of principal	237,716	74,291	4,750
Sales	17,325	41,383	0
Unrealized loss on sale	175	0	0
Amortization of acquisition costs, fees, premiums and discounts	917	496	60
Ending balance	1,327,925	1,092,273	514,058
CRE debt investments classified as held for sale	$0	$17,500