iStar Financial is a real estate investment trust (REIT) that acts as a private banker for owners of high-end commercial real estate in the US and abroad. Its financing activities include first mortgages, senior and mezzanine real estate debt and corporate capital, net lease financing, and equity investments. The REIT's loans typically range in size from $20 million to $150 million and are mainly secured by apartments or other residential properties, office complexes, land, hotels, or industrial, retail, entertainment, or mixed-use properties. Office or industrial properties make up 25% of its secured assets, while land makes up another 20%.