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NewStar Financial Closes $8,680,000 Loan on Northwest Corporate Center in Federal Way, Washington

CB Richard Ellis advises national investment fund sponsored by Trammell Crow Company

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NewStar Financial Closes $8,680,000 Loan on Northwest Corporate Center in Federal Way, WashingtonBoston, MA, September 5, 2007 - NewStar Financial, Inc. (NASDAQ:NEWS), a Boston-based specialty finance company, announces it has provided $8,680,000 in non-recourse, first mortgage loan financing on the Northwest Corporate Center, a 3-story, 69,528 sq ft office building in Federal Way, Washington. The property is owned by a national real estate investment fund sponsored by Trammell Crow Company. The Sponsor, who purchased the property in June 2007, will utilize the NewStar loan to retire the outstanding acquisition line of credit, as well as fund additional capital for building renovations and leasing costs. The planned capital improvements include upgrades to the common areas such as the bathrooms and lobby, as well as the installation of a building-wide sprinkler system. Centrally located within the 300-acre West Campus Business Center office park, the property benefits from excellent access to I-5 and Route-99, two of Federal Way's primary thoroughfares. Additionally, the property, located directly adjacent to the state-of-the-art community center, is within walking distance to Celebration Park, an 83-acre municipal park with hiking trails and athletic fields.Commenting on NewStar's lending capabilities, Matt Hill, Senior Vice President, Trammell Crow Company, said, "Jim Korinek and his team at NewStar were able to create a loan structure tailored to the specific needs associated with the retenanting and repositioning of this asset. Despite the recent turmoil in the capital markets and an abbreviated closing timeframe, NewStar honored their original terms and provided the timely financing." Jim Korinek, Managing Director at NewStar Financial, remarked, "Trammell Crow Company's local team identified an outstanding, value-add opportunity in this asset. We were pleased to be able to provide a flexible loan structure to help them execute on their enhancement and leasing plan."CB Richard Ellis, Inc. acted as exclusive financial advisor to the borrowers and will service the loan on behalf of NewStar. "We had numerous lenders interested in this asset but NewStar quickly established themselves with their creativity and flexibility. We are pleased to have them involved in this project" added Jack Standeford from CB Richard Ellis.NewStar's deal team for the transaction included Jim Korinek, Andrea Goldman, Evan Turner, Susan Strader, and Erica Salkow.About NewStar Financial, Inc.:

NewStar Financial is a specialized commercial finance company focused principally on meeting the complex financing needs of customers in the middle market through our corporate, commercial real estate, and structured products groups. Our senior banking teams call directly on customers to provide advice and finance a range of strategic transactions that may require some combination of senior secured, second lien and mezzanine financing. NewStar typically works with customers with financing needs of up to $150 million and cash flow as low as $5 million. We target 'hold' positions of up to $35 million, but may also underwrite or arrange transactions up to $100 million for syndications to other lenders.


We are headquartered in Boston MA, with regional offices in Darien CT, Chicago IL, San Francisco CA, San Diego CA, and Charleston SC. In December of 2006, NewStar completed an Initial Public Offering. The Company's shares trade on the NASDAQ under the ticker symbol, NEWS. Please visit our website at www.newstarfin.com for more detailed transaction and contact information.


About Trammell Crow Company:

Trammell Crow Company, founded in 1948, is one of the nation's leading developers and investors in real estate. The company has developed or acquired over 2,500 buildings accounting for over $50 billion in value. Trammell Crow Company's teams are dedicated to building value for its clients through creative solutions and highly skilled, locally connected professionals in major cities in the U.S., Canada and India. The company is known for the quality of its people and for the world class facilities they create. Trammell Crow Company serves users of, and investors in, office, industrial, retail, healthcare, student housing, on-airport distribution, multi-family residential, and mixed use projects. As of June 30, 2007, Trammell Crow Company had over $9.6 billion of development and new investments in process and in the pipeline.

Trammell Crow Company has experienced market leaders in 30 major cities. The company is an independently operated subsidiary of CB Richard Ellis Group, Inc., the world's largest commercial real estate services firm (based on 2006 revenues).

For those who occupy real estate, Trammell Crow Company can execute the development or acquisition of facilities tailored to meet its clients' needs. For investor clients, the company offers large strategic joint ventures, opportunity funds, and other targeted investment options. For more information visit the company's web site at www.TrammellCrow.com.








Corporate Inquiries:

NewStar Financial

Anne G. Bork

(617) 848-4318

Trammell Crow Company
Matt Hill
(214) 863-3304
Press-Related Inquiries:

Gaffney Bennett Public Relations

Annie Donnelly

(860) 416-1365




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