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STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 9pt; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>
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<P STYLE="font: 12
pt Times New Roman, Times, Serif; margin: 0.25in 0 9pt; text-align: center"><FONT STYLE="letter-spacing: 1pt"><B>FORM
8-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5.4pt 0 16.2pt; text-align: center"><B>Date of report (Date of earliest
event reported):<BR>
April 30, 2013</B></P>



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<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0.15in 0 10pt; text-align: center"><B>NorthStar
Real Estate Income Trust, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.15in; text-align: center"><B>(Exact Name of Registrant as Specified
in Charter)</B></P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5.4pt 0 10
..2pt; text-align: center">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 33%; text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt"><B>Maryland</B></FONT></TD>
    <TD STYLE="width: 34%; text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt"><B>000-54671</B></FONT></TD>
    <TD STYLE="width: 33%; text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt"><B>26-4141646</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 8pt"><B>(State or Other Jurisdiction of Incorporation)&#9;</B></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 8pt"><B>(Commission File Number)</B></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 8pt"><B>(IRS Employer &#9;<FONT STYLE="letter-spacing: -0.3pt">Identification No.)</FONT></B></FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1.8pt 0 10pt 0.9in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>399 Park Avenue, 18th Floor, New York, New
York 10022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt; letter-spacing: -0.2pt">(Address
of Principal Executive Offices) (Zip Code)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Registrant&rsquo;s telephone number, including
area code: (212)&nbsp;547-2600<BR>
<BR>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Not applicable</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt">(Former Name or
Former Address, if Changed Since Last Report)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0"><FONT STYLE="letter-spacing: -0.1pt">Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant </FONT>under any
of the following provisions (<FONT STYLE="font-size: 10pt"><I>see </I></FONT>General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0">&nbsp;</P>

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<TD STYLE="width: 15pt; text-align: right">&#61472;</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>


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<TD STYLE="width: 15pt; text-align: right">&#61472;</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right">&#61472;</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))</TD>
</TR></TABLE>


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<TD STYLE="width: 15pt; text-align: right">&#61472;</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3.45pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 8.01 Other Events.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 30, 2013, NorthStar Real Estate Income Trust, Inc. (the &ldquo;Company&rdquo;), through a subsidiary and together with NorthStar Realty Finance
Corp. (the &ldquo;Sponsor&rdquo;), directly originated a $255 million participating senior loan (the &ldquo;Loan&rdquo;) secured
by a leasehold mortgage in the recently renovated, 1,331 room Milford Plaza hotel located in Times Square, New York City (the &ldquo;Property&rdquo;).
The Company originated $89 million of the Loan and the Sponsor originated the remaining $166 million of the Loan on a pari passu
basis. The $255 million Loan was financed with $130 million from credit facilities with Deutsche Bank AG, pro-rata between the
Company and the Sponsor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> In connection with the Loan, the Company
and the Sponsor, on a pro-rata basis, will have a 35% ownership interest in the Property  in addition to the fee retail
component  associated with the Property. The borrower, a joint venture between Highgate Hotels, an experienced hotel owner
and operator that manages over 8,500 hotel rooms in New York City, and real estate private equity firm Rockpoint
Group (together the &ldquo;Borrower&rdquo;), will retain the remaining 65% ownership interest in the Property and the retail.
The Company and the Sponsor intend to ultimately securitize an interest in a portion of Loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Loan bears interest at a rate
of 8.65% per annum and has a current leveraged return on invested equity of 12.5%, inclusive of fees. The Company and
the Sponsor earned an upfront fee equal to 1.00% of the Loan amount and will earn a fee equal to 0.35% of the outstanding
principal amount at the time of repayment, both on a pro-rata basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The initial term of the Loan is ten years,
with no extension options. The Loan may not be prepaid during the first seven years. Thereafter the Loan may be prepaid, provided
the Borrower pays the greater of (i) 1.0% of the amount being prepaid and (ii) the remaining interest due on the Loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Property&rsquo;s loan-to-value ratio (&ldquo;LTV
Ratio&rdquo;) is approximately 77.4%. The LTV Ratio is the Loan amount net of reserves funded and controlled by the Company and
the Sponsor over the current appraised value of the Property as of March 27, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><B>Safe-Harbor Statement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Certain items in this Current Report on
Form 8-K may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of
1995, which can be identified by words like &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;plan,&rdquo;
&ldquo;hope,&rdquo; &ldquo;goal,&rdquo; &ldquo;expect,&rdquo; &ldquo;future,&rdquo; &ldquo;intend,&rdquo; &ldquo;will,&rdquo;
&ldquo;could&rdquo; and &ldquo;should&rdquo; and similar expressions. These statements are based on the Company&rsquo;s
current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to
differ materially from those described in the forward looking statements; the Company can give no assurance that its
expectations will be attained. Forward-looking statements are necessarily speculative in nature, and it can be expected that
some or all of the assumptions underlying any forward-looking statements will not materialize or will vary significantly from
actual results. Variations of assumptions and results may be material. Factors that could cause actual results to differ
materially from the Company&rsquo;s expectations include, but are not limited to, whether the Company will be able to
securitize an interest in a   portion of the Loan on favorable terms, if at all, whether the Company will be able to
enhance its return through a securitization or its ownership interest in the Property and the fee retail component associated
with the Property, the Borrower&rsquo;s ability to perform under the terms of the Loan, future property value,
income-producing ability, impact of any losses on cash flows and returns, market rental rates and property level cash flows,
changes in the Times Square market, changes in economic conditions generally and the real estate and debt markets
specifically, availability of investment opportunities, availability of capital, ability to achieve targeted returns,
generally accepted accounting principles and policies and rules applicable to REITs. Factors that could cause actual results
to differ materially from those in the forward-looking statements are specified in the Company&rsquo;s Annual Report on Form
10-K for the year ended December 31, 2012 and its other filings with the Securities and Exchange Commission.
Such forward-looking statements speak only as of the date of this Current Report on Form 8-K. The Company expressly disclaims
any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect
any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement
is based.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 10pt 0; text-indent: 0.25in">Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0.1in 4in">NORTHSTAR REAL ESTATE INCOME TRUST, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0.1in 4in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">Date: May 1, 2013<FONT STYLE="letter-spacing: -0.1pt">&#9;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 4in"><FONT STYLE="letter-spacing: -0.1pt">By: <U>/s/
Ronald J. Lieberman</U></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 4.25in"><FONT STYLE="letter-spacing: -0.1pt">Ronald J. Lieberman</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 4.25in"><FONT STYLE="letter-spacing: -0.1pt">Executive Vice
President, General Counsel and Secretary</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
</BODY>
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{"company-data": {"conformed-name": "NorthStar Real Estate Income Trust, Inc.", "cik": "0001455650", "assigned-sic": "6798", "irs-number": "264141646", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-54671", "film-number": "13800477"}, "business-address": {"street1": "399 PARK AVENUE, 18TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "(212) 547-2600"}, "mail-address": {"street1": "399 PARK AVENUE, 18TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022"}}
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest
event reported):
April 30, 2013
NorthStar
Real Estate Income Trust, Inc.
(Exact Name of Registrant as Specified
in Charter)
Maryland
000-54671
26-4141646
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
399 Park Avenue, 18th Floor, New York, New
York 10022
(Address
of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including
area code: (212) 547-2600
Not applicable
(Former Name or
Former Address, if Changed Since Last Report)
Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any
of the following provisions (
see
General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
Item 8.01 Other Events.
On April 30, 2013, NorthStar Real Estate Income Trust, Inc. (the "Company"), through a subsidiary and together with NorthStar Realty Finance
Corp. (the "Sponsor"), directly originated a $255 million participating senior loan (the "Loan") secured
by a leasehold mortgage in the recently renovated, 1,331 room Milford Plaza hotel located in Times Square, New York City (the "Property").
The Company originated $89 million of the Loan and the Sponsor originated the remaining $166 million of the Loan on a pari passu
basis. The $255 million Loan was financed with $130 million from credit facilities with Deutsche Bank AG, pro-rata between the
Company and the Sponsor.
In connection with the Loan, the Company
and the Sponsor, on a pro-rata basis, will have a 35% ownership interest in the Property  in addition to the fee retail
component  associated with the Property. The borrower, a joint venture between Highgate Hotels, an experienced hotel owner
and operator that manages over 8,500 hotel rooms in New York City, and real estate private equity firm Rockpoint
Group (together the "Borrower"), will retain the remaining 65% ownership interest in the Property and the retail.
The Company and the Sponsor intend to ultimately securitize an interest in a portion of Loan.
The Loan bears interest at a rate
of 8.65% per annum and has a current leveraged return on invested equity of 12.5%, inclusive of fees. The Company and
the Sponsor earned an upfront fee equal to 1.00% of the Loan amount and will earn a fee equal to 0.35% of the outstanding
principal amount at the time of repayment, both on a pro-rata basis.
The initial term of the Loan is ten years,
with no extension options. The Loan may not be prepaid during the first seven years. Thereafter the Loan may be prepaid, provided
the Borrower pays the greater of (i) 1.0% of the amount being prepaid and (ii) the remaining interest due on the Loan.
The Property's loan-to-value ratio ("LTV
Ratio") is approximately 77.4%. The LTV Ratio is the Loan amount net of reserves funded and controlled by the Company and
the Sponsor over the current appraised value of the Property as of March 27, 2013.
Safe-Harbor Statement
Certain items in this Current Report on
Form 8-K may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of
1995, which can be identified by words like "anticipate," "believe," "plan,"
"hope," "goal," "expect," "future," "intend," "will,"
"could" and "should" and similar expressions. These statements are based on the Company's
current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to
differ materially from those described in the forward looking statements; the Company can give no assurance that its
expectations will be attained. Forward-looking statements are necessarily speculative in nature, and it can be expected that
some or all of the assumptions underlying any forward-looking statements will not materialize or will vary significantly from
actual results. Variations of assumptions and results may be material. Factors that could cause actual results to differ
materially from the Company's expectations include, but are not limited to, whether the Company will be able to
securitize an interest in a   portion of the Loan on favorable terms, if at all, whether the Company will be able to
enhance its return through a securitization or its ownership interest in the Property and the fee retail component associated
with the Property, the Borrower's ability to perform under the terms of the Loan, future property value,
income-producing ability, impact of any losses on cash flows and returns, market rental rates and property level cash flows,
changes in the Times Square market, changes in economic conditions generally and the real estate and debt markets
specifically, availability of investment opportunities, availability of capital, ability to achieve targeted returns,
generally accepted accounting principles and policies and rules applicable to REITs. Factors that could cause actual results
to differ materially from those in the forward-looking statements are specified in the Company's Annual Report on Form
10-K for the year ended December 31, 2012 and its other filings with the Securities and Exchange Commission.
Such forward-looking statements speak only as of the date of this Current Report on Form 8-K. The Company expressly disclaims
any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect
any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement
is based.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NORTHSTAR REAL ESTATE INCOME TRUST, INC.
Date: May 1, 2013
By:
/s/
Ronald J. Lieberman
Ronald J. Lieberman
Executive Vice
President, General Counsel and Secretary