Newcastle Investment Corp., a New York-based real estate investment trust, has closed a collateralized debt obligation issued by Newcastle CDO VII Ltd. and Newcastle CDO VII Corp.Newcastle said it issued $462.8 million of investment-grade debt to finance a newly acquired pool of real estate securities and real-estate-related loans. The company said the final collateral value is expected to total about $525 million upon completion, of which 67% will be commercial mortgage-backed securities, 17% will be real-estate-related asset-backed securities, and 16% will be senior unsecured debt of REITs. Newcastle can be found online at http://www.newcastleinv.com.

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