Newcastle Investment Corp. operates as a real estate investment trust (REIT) in the United States. The company invests in and manages real estate related and other investments, including senior housing properties; debt investments financed with collateralized debt obligations; other debt investments; and investments in golf courses and facilities. It also invests in securities, including commercial mortgage backed securities, senior unsecured debt issued by property REITs, and real estate related asset backed securities, as well as in loans, such as real estate related and other loans, including corporate bank loans, commercial mortgage loans, residential mortgage loans, manufactured housing loans, and subprime mortgage loans. The company qualifies as a REIT for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Newcastle Investment Corp. was founded in 1998 and is based in New York, New York.