CCREI is an unlisted, closed-end fund registered under the Investment Company Act of 1940.

CCREI intends to invest throughout the real estate capital structure to offer investors access to a diversified portfolio of commercial real estate (CRE) and real estate-related investments, such as CRE securities, CRE debt and CRE equity. Additionally, the portfolio will extend to multiple property types and geographic regions throughout the U.S.

CCREI Prospectuses / Risk Factors

NorthStar Real Estate Capital Income Master Fund changed its name to CC Real Estate Income Master Fund on October 25, 2018. CC Real Estate Income Master Fund (CCREI) is a master fund in a master/feeder structure, which pools investor capital raised through its feeder funds, CCREI Fund, CCREI Fund-ADV, CCREI Fund-C and CCREI Fund-T (each a Fund, and together the Funds). Each Fund invests substantially all of its assets in CCREI. Investors in a Fund are purchasing shares of a feeder fund, not CCREI. The investment results of each of the Funds are directly dependent on the investment results of CCREI, which seeks to execute the investment strategies described in each Fund’s prospectus. An investment in a Fund involves a high degree of risk and may be considered speculative as well as illiquid and a prospective investor should invest only if they can sustain a complete loss of their investment. Fund shares are not listed on any securities exchange and it is not anticipated that a secondary market will develop. CCREI and the Funds are recently organized companies and have limited operating history.


The Fund will be advised by CNI RECF Advisors, LLC, an affiliate of Colony Capital.


As of June 30, 2018.


Represents investors in NorthStar Real Estate Income Trust, NorthStar Real Estate Income II, NorthStar Healthcare Income and NorthStar/RXR New York Metro Real Estate.

Executive Officers

  • Kevin P. Traenkle

    Chairman of the Board, Chief Executive Officer and President

  • Frank V. Saracino

    Chief Financial Officer and Treasurer

  • William Hughes, III

    Chief Operating Officer

Board of Trustees