Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * Colony NorthStar, Inc.	2. Issuer Name and Ticker or Trading Symbol NorthStar Realty Europe Corp. [ NRE ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                      __ X __ 10% Owner _____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle) 515 S. FLOWER STREET, 44TH FLOOR	3. Date of Earliest Transaction (MM/DD/YYYY) 11/30/2017
(Street) LOS ANGELES, CA 90071 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) ___ Form filed by One Reporting Person _ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $0.01 par value	11/30/2017		P		37408	A	$14.55   (1) (2)	5574317	I   (3)	See Footnote   (3)
Common Stock, $0.01 par value	12/1/2017		P		62220	A	$14.54   (1) (4)	5636537	I   (3)	See Footnote   (3)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:
(1)	The Reporting Persons have disclosed the purchase price on the basis of the weighted average of all such open market purchases on such date and undertake to provide upon request by the Staff full information regarding the number of shares purchased at each separate price.
(2)	Reflects purchases executed at prices between $14.48 and $14.59.
(3)	Reflects shares of Common Stock held directly by Colony Capital Operating Company, LLC, a Delaware limited liability company ("CCOC"). CCOC is a direct subsidiary and the operating company of Colony NorthStar, Inc., a Maryland corporation ("Colony NorthStar"). Colony NorthStar may be deemed to beneficially own the Common Stock directly owned by CCOC.
(4)	Reflects purchases executed at prices between $14.31 and $14.61.

Remarks: The Reporting Persons are jointly filing this Form 4 pursuant to Rule 16a-3(j) under the Exchange Act. Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Colony NorthStar, Inc. 515 S. FLOWER STREET, 44TH FLOOR LOS ANGELES, CA 90071		X
Colony Capital Operating Company, LLC 515 S. FLOWER STREET, 44TH FLOOR LOS ANGELES, CA 90071		X

Signatures
COLONY NORTHSTAR, INC., By: /s/ Mark M. Hedstrom, Executive Vice President & Chief Operating Officer		12/1/2017
** Signature of Reporting Person		Date
COLONY CAPITAL OPERATING COMPANY, LLC, By: /s/ Mark M. Hedstrom, Vice President		12/1/2017
** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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