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    <link:label id="lab_clns_DeferredLeasingCostsMember_0D3934B710B6634D3F21E1D3F95063D3_documentation_en-US" xlink:label="lab_clns_DeferredLeasingCostsMember_0D3934B710B6634D3F21E1D3F95063D3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred Leasing Costs [Member]</link:label>
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    <link:label id="lab_us-gaap_OtherIntangibleAssetsMember_A8A0BDE43919D3CBC3D6E1D3F950FD72_terseLabel_en-US" xlink:label="lab_us-gaap_OtherIntangibleAssetsMember_A8A0BDE43919D3CBC3D6E1D3F950FD72" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_OtherIntangibleAssetsMember_A8A0BDE43919D3CBC3D6E1D3F950FD72_label_en-US" xlink:label="lab_us-gaap_OtherIntangibleAssetsMember_A8A0BDE43919D3CBC3D6E1D3F950FD72" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Intangible Assets [Member]</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_FF60842A25F4CA24C577E1D3F9500402_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_FF60842A25F4CA24C577E1D3F9500402" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsLineItems_FF60842A25F4CA24C577E1D3F9500402" xlink:type="locator" />
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    <link:label id="lab_clns_AboveMarketLeaseAmortizationExpenseAbstract_BFAE069F0E321BD2B524E1D3F950DAB2_label_en-US" xlink:label="lab_clns_AboveMarketLeaseAmortizationExpenseAbstract_BFAE069F0E321BD2B524E1D3F950DAB2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Above Market Lease, Amortization Expense [Abstract]</link:label>
    <link:label id="lab_clns_AboveMarketLeaseAmortizationExpenseAbstract_BFAE069F0E321BD2B524E1D3F950DAB2_documentation_en-US" xlink:label="lab_clns_AboveMarketLeaseAmortizationExpenseAbstract_BFAE069F0E321BD2B524E1D3F950DAB2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Above Market Lease, Amortization Expense [Abstract]</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_AboveMarketLeaseAmortizationExpenseAbstract" xlink:label="loc_clns_AboveMarketLeaseAmortizationExpenseAbstract_BFAE069F0E321BD2B524E1D3F950DAB2" xlink:type="locator" />
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    <link:label id="lab_clns_AboveMarketLeaseAmortizationExpenseRemainderofFiscalYear_CF2A530C6276E52A5DADE1D3F951A5DD_negatedTerseLabel_en-US" xlink:label="lab_clns_AboveMarketLeaseAmortizationExpenseRemainderofFiscalYear_CF2A530C6276E52A5DADE1D3F951A5DD" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2018</link:label>
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    <link:label id="lab_clns_AboveMarketLeaseAmortizationExpenseRemainderofFiscalYear_CF2A530C6276E52A5DADE1D3F951A5DD_documentation_en-US" xlink:label="lab_clns_AboveMarketLeaseAmortizationExpenseRemainderofFiscalYear_CF2A530C6276E52A5DADE1D3F951A5DD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Above Market Lease, Amortization Expense, Remainder of Fiscal Year</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_AboveMarketLeaseAmortizationExpenseRemainderofFiscalYear" xlink:label="loc_clns_AboveMarketLeaseAmortizationExpenseRemainderofFiscalYear_CF2A530C6276E52A5DADE1D3F951A5DD" xlink:type="locator" />
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    <link:label id="lab_clns_AboveMarketLeaseAmortizationExpenseYearTwo_9F9C2946585892ABAE5BE1D3F9512297_negatedTerseLabel_en-US" xlink:label="lab_clns_AboveMarketLeaseAmortizationExpenseYearTwo_9F9C2946585892ABAE5BE1D3F9512297" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2018</link:label>
    <link:label id="lab_clns_AboveMarketLeaseAmortizationExpenseYearTwo_9F9C2946585892ABAE5BE1D3F9512297_label_en-US" xlink:label="lab_clns_AboveMarketLeaseAmortizationExpenseYearTwo_9F9C2946585892ABAE5BE1D3F9512297" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Above Market Lease, Amortization Expense, Year Two</link:label>
    <link:label id="lab_clns_AboveMarketLeaseAmortizationExpenseYearTwo_9F9C2946585892ABAE5BE1D3F9512297_documentation_en-US" xlink:label="lab_clns_AboveMarketLeaseAmortizationExpenseYearTwo_9F9C2946585892ABAE5BE1D3F9512297" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Above Market Lease, Amortization Expense, Year Two</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_AboveMarketLeaseAmortizationExpenseYearTwo" xlink:label="loc_clns_AboveMarketLeaseAmortizationExpenseYearTwo_9F9C2946585892ABAE5BE1D3F9512297" xlink:type="locator" />
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    <link:label id="lab_clns_AboveMarketLeaseAmortizationExpenseYearThree_FBA3C165FD4148BDDAB6E1D3F951DE12_negatedTerseLabel_en-US" xlink:label="lab_clns_AboveMarketLeaseAmortizationExpenseYearThree_FBA3C165FD4148BDDAB6E1D3F951DE12" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2019</link:label>
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    <link:label id="lab_clns_AboveMarketLeaseAmortizationExpenseYearThree_FBA3C165FD4148BDDAB6E1D3F951DE12_documentation_en-US" xlink:label="lab_clns_AboveMarketLeaseAmortizationExpenseYearThree_FBA3C165FD4148BDDAB6E1D3F951DE12" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Above Market Lease, Amortization Expense, Year Three</link:label>
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    <link:label id="lab_clns_AboveMarketLeaseAmortizationExpenseYearFour_4FC4D68FDF309193E14BE1D3F951175F_negatedTerseLabel_en-US" xlink:label="lab_clns_AboveMarketLeaseAmortizationExpenseYearFour_4FC4D68FDF309193E14BE1D3F951175F" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2020</link:label>
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    <link:label id="lab_clns_AboveMarketLeaseAmortizationExpenseYearFive_773D104C37280949F5D0E1D3F951856A_negatedTerseLabel_en-US" xlink:label="lab_clns_AboveMarketLeaseAmortizationExpenseYearFive_773D104C37280949F5D0E1D3F951856A" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2021</link:label>
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    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree_DBF7AC0327C998E66DAEE1D3F953C08E_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree_DBF7AC0327C998E66DAEE1D3F953C08E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2019</link:label>
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    <link:label id="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAcquiredDuringPeriodCashFlowsExpectedToBeCollectedAtAcquisition_A17B3429FEB1770B0035D3B95436150B_label_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAcquiredDuringPeriodCashFlowsExpectedToBeCollectedAtAcquisition_A17B3429FEB1770B0035D3B95436150B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAcquiredDuringPeriodCashFlowsExpectedToBeCollectedAtAcquisition" xlink:label="loc_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAcquiredDuringPeriodCashFlowsExpectedToBeCollectedAtAcquisition_A17B3429FEB1770B0035D3B95436150B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAcquiredDuringPeriodAtAcquisitionAtFairValue_DE2F5BE3C1DAEC2E0DA3D3B954372789_terseLabel_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAcquiredDuringPeriodAtAcquisitionAtFairValue_DE2F5BE3C1DAEC2E0DA3D3B954372789" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of PCI debt securities acquired</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAcquiredDuringPeriodAtAcquisitionAtFairValue" xlink:label="loc_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAcquiredDuringPeriodAtAcquisitionAtFairValue_DE2F5BE3C1DAEC2E0DA3D3B954372789" xlink:type="locator" />
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    <link:label id="lab_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldMovementScheduleRollForward_2140A4A26BD163690D63D3B95437B391_terseLabel_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldMovementScheduleRollForward_2140A4A26BD163690D63D3B95437B391" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accretable Yield Movement Schedule [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldMovementScheduleRollForward_2140A4A26BD163690D63D3B95437B391_label_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldMovementScheduleRollForward_2140A4A26BD163690D63D3B95437B391" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldMovementScheduleRollForward" xlink:label="loc_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldMovementScheduleRollForward_2140A4A26BD163690D63D3B95437B391" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldMovementScheduleRollForward_2140A4A26BD163690D63D3B95437B391" xlink:to="lab_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldMovementScheduleRollForward_2140A4A26BD163690D63D3B95437B391" xlink:type="arc" />
    <link:label id="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYield_FEA218BDF0FBF2A71FAAD3B95437D3FC_periodStartLabel_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYield_FEA218BDF0FBF2A71FAAD3B95437D3FC" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning accretable yield</link:label>
    <link:label id="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYield_FEA218BDF0FBF2A71FAAD3B95437D3FC_label_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYield_FEA218BDF0FBF2A71FAAD3B95437D3FC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYield" xlink:label="loc_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYield_FEA218BDF0FBF2A71FAAD3B95437D3FC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYield_FEA218BDF0FBF2A71FAAD3B95437D3FC" xlink:to="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYield_FEA218BDF0FBF2A71FAAD3B95437D3FC" xlink:type="arc" />
    <link:label id="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAdditions_D4C7E3FE009247EB2AAFD3B95437ACA6_verboseLabel_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAdditions_D4C7E3FE009247EB2AAFD3B95437ACA6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Assumed through the Merger</link:label>
    <link:label id="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAdditions_D4C7E3FE009247EB2AAFD3B95437ACA6_label_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAdditions_D4C7E3FE009247EB2AAFD3B95437ACA6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Additions</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAdditions" xlink:label="loc_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAdditions_D4C7E3FE009247EB2AAFD3B95437ACA6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAdditions_D4C7E3FE009247EB2AAFD3B95437ACA6" xlink:to="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAdditions_D4C7E3FE009247EB2AAFD3B95437ACA6" xlink:type="arc" />
    <link:label id="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAccretion_7FD9ADDF1C3C5FC248C6D3B954373AA0_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAccretion_7FD9ADDF1C3C5FC248C6D3B954373AA0" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Accretion recognized in earnings</link:label>
    <link:label id="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAccretion_7FD9ADDF1C3C5FC248C6D3B954373AA0_label_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAccretion_7FD9ADDF1C3C5FC248C6D3B954373AA0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Accretion</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAccretion" xlink:label="loc_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldAccretion_7FD9ADDF1C3C5FC248C6D3B954373AA0" xlink:type="locator" />
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    <link:label id="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldDisposalsOfLoans_D364BFFBF99EEEA984CFD3B95437CD79_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldDisposalsOfLoans_D364BFFBF99EEEA984CFD3B95437CD79" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Reduction due to payoffs or disposals</link:label>
    <link:label id="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldDisposalsOfLoans_D364BFFBF99EEEA984CFD3B95437CD79_label_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldDisposalsOfLoans_D364BFFBF99EEEA984CFD3B95437CD79" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Disposals of Loans</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldDisposalsOfLoans" xlink:label="loc_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldDisposalsOfLoans_D364BFFBF99EEEA984CFD3B95437CD79" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldDisposalsOfLoans_D364BFFBF99EEEA984CFD3B95437CD79" xlink:to="lab_us-gaap_CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesAccretableYieldDisposalsOfLoans_D364BFFBF99EEEA984CFD3B95437CD79" xlink:type="arc" />
    <link:label id="lab_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldReclassificationsToNonaccretableDifference_B56AA1B600DAD483B7E8D3B9543709E9_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldReclassificationsToNonaccretableDifference_B56AA1B600DAD483B7E8D3B9543709E9" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Net reclassifications to nonaccretable difference</link:label>
    <link:label id="lab_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldReclassificationsToNonaccretableDifference_B56AA1B600DAD483B7E8D3B9543709E9_label_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldReclassificationsToNonaccretableDifference_B56AA1B600DAD483B7E8D3B9543709E9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications to Nonaccretable Difference</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldReclassificationsToNonaccretableDifference" xlink:label="loc_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldReclassificationsToNonaccretableDifference_B56AA1B600DAD483B7E8D3B9543709E9" xlink:type="locator" />
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    <link:label id="lab_us-gaap_NoncontrollingInterestAbstract_F4E540D5BAB32623428DE2C38A8784E1_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestAbstract_F4E540D5BAB32623428DE2C38A8784E1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Abstract]</link:label>
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    <link:label id="lab_clns_LiabilitiesAssumedInMerger_EC3D9D64095E50A714E0E2828F8ED491_documentation_en-US" xlink:label="lab_clns_LiabilitiesAssumedInMerger_EC3D9D64095E50A714E0E2828F8ED491" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Liabilities Assumed In Merger</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_LiabilitiesAssumedInMerger" xlink:label="loc_clns_LiabilitiesAssumedInMerger_EC3D9D64095E50A714E0E2828F8ED491" xlink:type="locator" />
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    <link:label id="lab_clns_NoncontrollingInterestAssumedInMerger_9B1ED83F807D2F5A1B41E2828F8E7A50_terseLabel_en-US" xlink:label="lab_clns_NoncontrollingInterestAssumedInMerger_9B1ED83F807D2F5A1B41E2828F8E7A50" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling interests assumed in Merger (Note 3)</link:label>
    <link:label id="lab_clns_NoncontrollingInterestAssumedInMerger_9B1ED83F807D2F5A1B41E2828F8E7A50_label_en-US" xlink:label="lab_clns_NoncontrollingInterestAssumedInMerger_9B1ED83F807D2F5A1B41E2828F8E7A50" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest Assumed In Merger</link:label>
    <link:label id="lab_clns_NoncontrollingInterestAssumedInMerger_9B1ED83F807D2F5A1B41E2828F8E7A50_documentation_en-US" xlink:label="lab_clns_NoncontrollingInterestAssumedInMerger_9B1ED83F807D2F5A1B41E2828F8E7A50" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest Assumed In Merger</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_NoncontrollingInterestAssumedInMerger" xlink:label="loc_clns_NoncontrollingInterestAssumedInMerger_9B1ED83F807D2F5A1B41E2828F8E7A50" xlink:type="locator" />
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    <link:label id="lab_us-gaap_StockIssued1_2D43B561DBA94CBB547AE2828F8EC199_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssued1_2D43B561DBA94CBB547AE2828F8EC199" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock issued for acquisition of NSAM and NRF (Note 3)</link:label>
    <link:label id="lab_us-gaap_StockIssued1_2D43B561DBA94CBB547AE2828F8EC199_label_en-US" xlink:label="lab_us-gaap_StockIssued1_2D43B561DBA94CBB547AE2828F8EC199" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssued1" xlink:label="loc_us-gaap_StockIssued1_2D43B561DBA94CBB547AE2828F8EC199" xlink:type="locator" />
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    <link:label id="lab_clns_PreferredStockIssuedForAcquisition_5513A942B79BFE1633C6E2828F8F53EF_terseLabel_en-US" xlink:label="lab_clns_PreferredStockIssuedForAcquisition_5513A942B79BFE1633C6E2828F8F53EF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock issued for acquisition of NRF (Note 3)</link:label>
    <link:label id="lab_clns_PreferredStockIssuedForAcquisition_5513A942B79BFE1633C6E2828F8F53EF_label_en-US" xlink:label="lab_clns_PreferredStockIssuedForAcquisition_5513A942B79BFE1633C6E2828F8F53EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock Issued For Acquisition</link:label>
    <link:label id="lab_clns_PreferredStockIssuedForAcquisition_5513A942B79BFE1633C6E2828F8F53EF_documentation_en-US" xlink:label="lab_clns_PreferredStockIssuedForAcquisition_5513A942B79BFE1633C6E2828F8F53EF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Preferred Stock Issued For Acquisition</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_PreferredStockIssuedForAcquisition" xlink:label="loc_clns_PreferredStockIssuedForAcquisition_5513A942B79BFE1633C6E2828F8F53EF" xlink:type="locator" />
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    <link:label id="lab_clns_DebtAssumedByBuyer_4CB2D486CD1B3DEAB24CE2828F8F2498_terseLabel_en-US" xlink:label="lab_clns_DebtAssumedByBuyer_4CB2D486CD1B3DEAB24CE2828F8F2498" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt assumed by buyer in sale of manufactured housing portfolio (Note 17)</link:label>
    <link:label id="lab_clns_DebtAssumedByBuyer_4CB2D486CD1B3DEAB24CE2828F8F2498_label_en-US" xlink:label="lab_clns_DebtAssumedByBuyer_4CB2D486CD1B3DEAB24CE2828F8F2498" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Assumed By Buyer</link:label>
    <link:label id="lab_clns_DebtAssumedByBuyer_4CB2D486CD1B3DEAB24CE2828F8F2498_documentation_en-US" xlink:label="lab_clns_DebtAssumedByBuyer_4CB2D486CD1B3DEAB24CE2828F8F2498" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Assumed By Buyer</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_DebtAssumedByBuyer" xlink:label="loc_clns_DebtAssumedByBuyer_4CB2D486CD1B3DEAB24CE2828F8F2498" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_DebtAssumedByBuyer_4CB2D486CD1B3DEAB24CE2828F8F2498" xlink:to="lab_clns_DebtAssumedByBuyer_4CB2D486CD1B3DEAB24CE2828F8F2498" xlink:type="arc" />
    <link:label id="lab_clns_NetAssetsAcquiredInRestructuring_261BE2D9D36B0F4BBED9E2828F8F1699_terseLabel_en-US" xlink:label="lab_clns_NetAssetsAcquiredInRestructuring_261BE2D9D36B0F4BBED9E2828F8F1699" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net assets acquired in CPI restructuring (Note 3)</link:label>
    <link:label id="lab_clns_NetAssetsAcquiredInRestructuring_261BE2D9D36B0F4BBED9E2828F8F1699_label_en-US" xlink:label="lab_clns_NetAssetsAcquiredInRestructuring_261BE2D9D36B0F4BBED9E2828F8F1699" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Assets Acquired In Restructuring</link:label>
    <link:label id="lab_clns_NetAssetsAcquiredInRestructuring_261BE2D9D36B0F4BBED9E2828F8F1699_documentation_en-US" xlink:label="lab_clns_NetAssetsAcquiredInRestructuring_261BE2D9D36B0F4BBED9E2828F8F1699" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net Assets Acquired In Restructuring</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_NetAssetsAcquiredInRestructuring" xlink:label="loc_clns_NetAssetsAcquiredInRestructuring_261BE2D9D36B0F4BBED9E2828F8F1699" xlink:type="locator" />
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    <link:label id="lab_clns_NetAssetsAcquiredInAcquisition_01F25A2721A0D4E4DDC9E2828F8FC717_terseLabel_en-US" xlink:label="lab_clns_NetAssetsAcquiredInAcquisition_01F25A2721A0D4E4DDC9E2828F8FC717" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net assets acquired in THL Hotel Portfolio (Note 3)</link:label>
    <link:label id="lab_clns_NetAssetsAcquiredInAcquisition_01F25A2721A0D4E4DDC9E2828F8FC717_label_en-US" xlink:label="lab_clns_NetAssetsAcquiredInAcquisition_01F25A2721A0D4E4DDC9E2828F8FC717" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Assets Acquired In Acquisition</link:label>
    <link:label id="lab_clns_NetAssetsAcquiredInAcquisition_01F25A2721A0D4E4DDC9E2828F8FC717_documentation_en-US" xlink:label="lab_clns_NetAssetsAcquiredInAcquisition_01F25A2721A0D4E4DDC9E2828F8FC717" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net Assets Acquired In Acquisition</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_NetAssetsAcquiredInAcquisition" xlink:label="loc_clns_NetAssetsAcquiredInAcquisition_01F25A2721A0D4E4DDC9E2828F8FC717" xlink:type="locator" />
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    <link:label id="lab_clns_Netassetsofinvestmententitiesdeconsolidated_6B79653A7F504AE6A0CEE2828F8F0F76_terseLabel_en-US" xlink:label="lab_clns_Netassetsofinvestmententitiesdeconsolidated_6B79653A7F504AE6A0CEE2828F8F0F76" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net assets of investment entity deconsolidated (Note 4)</link:label>
    <link:label id="lab_clns_Netassetsofinvestmententitiesdeconsolidated_6B79653A7F504AE6A0CEE2828F8F0F76_label_en-US" xlink:label="lab_clns_Netassetsofinvestmententitiesdeconsolidated_6B79653A7F504AE6A0CEE2828F8F0F76" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net assets of investment entities deconsolidated</link:label>
    <link:label id="lab_clns_Netassetsofinvestmententitiesdeconsolidated_6B79653A7F504AE6A0CEE2828F8F0F76_documentation_en-US" xlink:label="lab_clns_Netassetsofinvestmententitiesdeconsolidated_6B79653A7F504AE6A0CEE2828F8F0F76" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net assets of investment entities deconsolidated</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_Netassetsofinvestmententitiesdeconsolidated" xlink:label="loc_clns_Netassetsofinvestmententitiesdeconsolidated_6B79653A7F504AE6A0CEE2828F8F0F76" xlink:type="locator" />
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    <link:label id="lab_clns_NetAssetsOfSponsoredFundConsolidatedNetOfCashAssumed_09E1A01F50A01CA0031FE2828F8FC749_terseLabel_en-US" xlink:label="lab_clns_NetAssetsOfSponsoredFundConsolidatedNetOfCashAssumed_09E1A01F50A01CA0031FE2828F8FC749" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net assets of sponsored fund consolidated, net of cash assumed (Note 14)</link:label>
    <link:label id="lab_clns_NetAssetsOfSponsoredFundConsolidatedNetOfCashAssumed_09E1A01F50A01CA0031FE2828F8FC749_label_en-US" xlink:label="lab_clns_NetAssetsOfSponsoredFundConsolidatedNetOfCashAssumed_09E1A01F50A01CA0031FE2828F8FC749" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Assets Of Sponsored Fund Consolidated, Net Of Cash Assumed</link:label>
    <link:label id="lab_clns_NetAssetsOfSponsoredFundConsolidatedNetOfCashAssumed_09E1A01F50A01CA0031FE2828F8FC749_documentation_en-US" xlink:label="lab_clns_NetAssetsOfSponsoredFundConsolidatedNetOfCashAssumed_09E1A01F50A01CA0031FE2828F8FC749" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net Assets Of Sponsored Fund Consolidated, Net Of Cash Assumed</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_NetAssetsOfSponsoredFundConsolidatedNetOfCashAssumed" xlink:label="loc_clns_NetAssetsOfSponsoredFundConsolidatedNetOfCashAssumed_09E1A01F50A01CA0031FE2828F8FC749" xlink:type="locator" />
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    <link:label id="lab_clns_InvestmentDepositsAppliedToAcquisitionOfLoanReceivableRealEstate_1B3C14F203AE2D45107EE2828F8F0727_terseLabel_en-US" xlink:label="lab_clns_InvestmentDepositsAppliedToAcquisitionOfLoanReceivableRealEstate_1B3C14F203AE2D45107EE2828F8F0727" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment deposits applied to acquisition of loans receivable, real estate and CPI Group</link:label>
    <link:label id="lab_clns_InvestmentDepositsAppliedToAcquisitionOfLoanReceivableRealEstate_1B3C14F203AE2D45107EE2828F8F0727_label_en-US" xlink:label="lab_clns_InvestmentDepositsAppliedToAcquisitionOfLoanReceivableRealEstate_1B3C14F203AE2D45107EE2828F8F0727" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Deposits Applied To Acquisition Of Loan Receivable, Real Estate</link:label>
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    <link:loc xlink:href="clns-20171231.xsd#clns_InvestmentDepositsAppliedToAcquisitionOfLoanReceivableRealEstate" xlink:label="loc_clns_InvestmentDepositsAppliedToAcquisitionOfLoanReceivableRealEstate_1B3C14F203AE2D45107EE2828F8F0727" xlink:type="locator" />
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    <link:label id="lab_clns_RedemptionOfPartnershipUnitsForCommonStock_6532C3681B1F8F0B8ADEE2828F8F1077_terseLabel_en-US" xlink:label="lab_clns_RedemptionOfPartnershipUnitsForCommonStock_6532C3681B1F8F0B8ADEE2828F8F1077" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redemption of OP Units for common stock</link:label>
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    <link:label id="lab_clns_RedemptionOfPartnershipUnitsForCommonStock_6532C3681B1F8F0B8ADEE2828F8F1077_documentation_en-US" xlink:label="lab_clns_RedemptionOfPartnershipUnitsForCommonStock_6532C3681B1F8F0B8ADEE2828F8F1077" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Redemption Of Partnership Units For Common Stock</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_RedemptionOfPartnershipUnitsForCommonStock" xlink:label="loc_clns_RedemptionOfPartnershipUnitsForCommonStock_6532C3681B1F8F0B8ADEE2828F8F1077" xlink:type="locator" />
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    <link:label id="lab_clns_ForeclosuresonCollateralAssetsfromOriginatedorAcquiredDebt_6A915C16385840686E62E2828F909359_terseLabel_en-US" xlink:label="lab_clns_ForeclosuresonCollateralAssetsfromOriginatedorAcquiredDebt_6A915C16385840686E62E2828F909359" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreclosures on collateral assets of originated or acquired loans receivable</link:label>
    <link:label id="lab_clns_ForeclosuresonCollateralAssetsfromOriginatedorAcquiredDebt_6A915C16385840686E62E2828F909359_label_en-US" xlink:label="lab_clns_ForeclosuresonCollateralAssetsfromOriginatedorAcquiredDebt_6A915C16385840686E62E2828F909359" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreclosures on Collateral Assets from Originated or Acquired Debt</link:label>
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    <link:loc xlink:href="clns-20171231.xsd#clns_ForeclosuresonCollateralAssetsfromOriginatedorAcquiredDebt" xlink:label="loc_clns_ForeclosuresonCollateralAssetsfromOriginatedorAcquiredDebt_6A915C16385840686E62E2828F909359" xlink:type="locator" />
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    <link:label id="lab_clns_RealEstateHeldforsaleSalePrice_BEF4276A1403FED52BBDD8EF5A0BD7E9_terseLabel_en-US" xlink:label="lab_clns_RealEstateHeldforsaleSalePrice_BEF4276A1403FED52BBDD8EF5A0BD7E9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale price</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="loc_us-gaap_FairValueInputsLevel3Member_3A9B44D31348D1649961E233A324D4F3" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_943C7C19EEC60AA00538E233A3245AD9" xlink:type="locator" />
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    <link:label id="lab_clns_BusinessCombinationContingentConsiderationEquityInterestsIssuedandIssuableNumberofShares_5739F5D8D2C57E89B917E233A324987B_terseLabel_en-US" xlink:label="lab_clns_BusinessCombinationContingentConsiderationEquityInterestsIssuedandIssuableNumberofShares_5739F5D8D2C57E89B917E233A324987B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares contingent upon achievement of performance targets (shares)</link:label>
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    <link:label id="lab_us-gaap_AvailableForSaleSecurities_284D4113F1605B88B686E233A3246781_terseLabel_en-US" xlink:label="lab_us-gaap_AvailableForSaleSecurities_284D4113F1605B88B686E233A3246781" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value</link:label>
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    <link:label id="lab_us-gaap_DerivativeLiabilities_6A4099152397ABC79720E233A324FB38_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities_6A4099152397ABC79720E233A324FB38" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Liability</link:label>
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    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3_83E4BFADE2E907363EF6E1D3F77F423F_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3_83E4BFADE2E907363EF6E1D3F77F423F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3</link:label>
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    <link:label id="lab_clns_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetUnrecognizedGainLossInAccumulatedOtherComprehensiveIncome_12F35501BF6ED8FBF6B5E1D3F77FDFD7_documentation_en-US" xlink:label="lab_clns_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetUnrecognizedGainLossInAccumulatedOtherComprehensiveIncome_12F35501BF6ED8FBF6B5E1D3F77FDFD7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Unrecognized Gain (Loss) In Accumulated Other Comprehensive Income</link:label>
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    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_402D4E609A41DF1FBD14E1D3F77FF065_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_402D4E609A41DF1FBD14E1D3F77FF065" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 3 Liabilities</link:label>
    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_402D4E609A41DF1FBD14E1D3F77FF065_label_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_402D4E609A41DF1FBD14E1D3F77FF065" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_402D4E609A41DF1FBD14E1D3F77FF065" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_402D4E609A41DF1FBD14E1D3F77FF065" xlink:to="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_402D4E609A41DF1FBD14E1D3F77FF065" xlink:type="arc" />
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_333C5E53FB4AE689EDAFE1D3F77FA768_periodStartLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_333C5E53FB4AE689EDAFE1D3F77FA768" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Liability Value</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_333C5E53FB4AE689EDAFE1D3F77FA768_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_333C5E53FB4AE689EDAFE1D3F77FA768" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_333C5E53FB4AE689EDAFE1D3F77FA768" xlink:type="locator" />
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    <link:label id="lab_clns_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisLiabilityAcquiredThroughInternalization_8C626E8450349ED109CFE1D3F77F681E_negatedTerseLabel_en-US" xlink:label="lab_clns_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisLiabilityAcquiredThroughInternalization_8C626E8450349ED109CFE1D3F77F681E" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Acquired through Internalization</link:label>
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    <link:label id="lab_clns_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisLiabilityAcquiredThroughInternalization_8C626E8450349ED109CFE1D3F77F681E_documentation_en-US" xlink:label="lab_clns_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisLiabilityAcquiredThroughInternalization_8C626E8450349ED109CFE1D3F77F681E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Acquired Through Internalization</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisLiabilityAcquiredThroughInternalization" xlink:label="loc_clns_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisLiabilityAcquiredThroughInternalization_8C626E8450349ED109CFE1D3F77F681E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_BusinessCombinationIntegrationRelatedCosts_7E2DFA2CA1E5333F57B0DDC411801EB4_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationIntegrationRelatedCosts_7E2DFA2CA1E5333F57B0DDC411801EB4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation expense</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationIntegrationRelatedCosts_7E2DFA2CA1E5333F57B0DDC411801EB4_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationIntegrationRelatedCosts_7E2DFA2CA1E5333F57B0DDC411801EB4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Integration Related Costs</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BusinessCombinationIntegrationRelatedCosts" xlink:label="loc_us-gaap_BusinessCombinationIntegrationRelatedCosts_7E2DFA2CA1E5333F57B0DDC411801EB4" xlink:type="locator" />
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    <link:loc xlink:href="clns-20171231.xsd#clns_BusinessCombinationAcquisitionAndIntegrationRelatedCosts" xlink:label="loc_clns_BusinessCombinationAcquisitionAndIntegrationRelatedCosts_D16839A065C652C11A63DDC4119C5956" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RevenuesAbstract_26B575B20E7C5EE20DD1E2829CFC08B1_terseLabel_en-US" xlink:label="lab_us-gaap_RevenuesAbstract_26B575B20E7C5EE20DD1E2829CFC08B1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income</link:label>
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    <link:label id="lab_us-gaap_RealEstateRevenueNet_8A26B4B3F4B7B1C4763AE2829CFCDEA1_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateRevenueNet_8A26B4B3F4B7B1C4763AE2829CFCDEA1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property operating income</link:label>
    <link:label id="lab_us-gaap_RealEstateRevenueNet_8A26B4B3F4B7B1C4763AE2829CFCDEA1_label_en-US" xlink:label="lab_us-gaap_RealEstateRevenueNet_8A26B4B3F4B7B1C4763AE2829CFCDEA1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Revenue, Net</link:label>
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    <link:label id="lab_us-gaap_InvestmentIncomeInterest_5C0FA8B3D9D51D4A5BE4E2829CFC09AF_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentIncomeInterest_5C0FA8B3D9D51D4A5BE4E2829CFC09AF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest income</link:label>
    <link:label id="lab_us-gaap_InvestmentIncomeInterest_5C0FA8B3D9D51D4A5BE4E2829CFC09AF_label_en-US" xlink:label="lab_us-gaap_InvestmentIncomeInterest_5C0FA8B3D9D51D4A5BE4E2829CFC09AF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Income, Interest</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="loc_us-gaap_InvestmentIncomeInterest_5C0FA8B3D9D51D4A5BE4E2829CFC09AF" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ManagementFeesRevenue_497A8E9770643E12972DE2829CFD0E2F_verboseLabel_en-US" xlink:label="lab_us-gaap_ManagementFeesRevenue_497A8E9770643E12972DE2829CFD0E2F" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Fee income ($184,914, $67,731 and $64,585 from affiliates, respectively)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ManagementFeesRevenue" xlink:label="loc_us-gaap_ManagementFeesRevenue_497A8E9770643E12972DE2829CFD0E2F" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_DF9E0594685358628E1BE2829CFD995F" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ManagementFeeExpense" xlink:label="loc_us-gaap_ManagementFeeExpense_049FCA09BA89EAC61B83E2829CFDDA4B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AssetManagementCosts_90389237D955369EE755E2829CFE1B2E_verboseLabel_en-US" xlink:label="lab_us-gaap_AssetManagementCosts_90389237D955369EE755E2829CFE1B2E" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Property operating expense</link:label>
    <link:label id="lab_us-gaap_AssetManagementCosts_90389237D955369EE755E2829CFE1B2E_label_en-US" xlink:label="lab_us-gaap_AssetManagementCosts_90389237D955369EE755E2829CFE1B2E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Management Costs</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AssetManagementCosts" xlink:label="loc_us-gaap_AssetManagementCosts_90389237D955369EE755E2829CFE1B2E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_InterestExpense_0163298ED0C39A7D8C93E2829CFEB3A2_label_en-US" xlink:label="lab_us-gaap_InterestExpense_0163298ED0C39A7D8C93E2829CFEB3A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense</link:label>
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    <link:label id="lab_us-gaap_InvestmentIncomeInvestmentExpense_C744348E8DDFEA416DB1E2829CFEFE0B_verboseLabel_en-US" xlink:label="lab_us-gaap_InvestmentIncomeInvestmentExpense_C744348E8DDFEA416DB1E2829CFEFE0B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Investment, servicing and commission expense</link:label>
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    <link:label id="lab_clns_TransactionRelatedCosts_C66C2E89001697D043CDE2829CFE247E_terseLabel_en-US" xlink:label="lab_clns_TransactionRelatedCosts_C66C2E89001697D043CDE2829CFE247E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transaction costs</link:label>
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    <link:label id="lab_clns_TransactionRelatedCosts_C66C2E89001697D043CDE2829CFE247E_documentation_en-US" xlink:label="lab_clns_TransactionRelatedCosts_C66C2E89001697D043CDE2829CFE247E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Transaction Related Costs</link:label>
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    <link:label id="lab_us-gaap_DepreciationAndAmortization_E1C78AC2728D1D852525E2829CFE05DD_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization_E1C78AC2728D1D852525E2829CFE05DD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_DepreciationAndAmortization_E1C78AC2728D1D852525E2829CFE05DD_label_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization_E1C78AC2728D1D852525E2829CFE05DD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Depletion and Amortization, Nonproduction</link:label>
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    <link:label id="lab_us-gaap_ProvisionForLoanAndLeaseLosses_910AC1567E0180A30442E2829CFFBA2D_terseLabel_en-US" xlink:label="lab_us-gaap_ProvisionForLoanAndLeaseLosses_910AC1567E0180A30442E2829CFFBA2D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provision for loan loss</link:label>
    <link:label id="lab_us-gaap_ProvisionForLoanAndLeaseLosses_910AC1567E0180A30442E2829CFFBA2D_label_en-US" xlink:label="lab_us-gaap_ProvisionForLoanAndLeaseLosses_910AC1567E0180A30442E2829CFFBA2D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provision for Loan and Lease Losses</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProvisionForLoanAndLeaseLosses" xlink:label="loc_us-gaap_ProvisionForLoanAndLeaseLosses_910AC1567E0180A30442E2829CFFBA2D" xlink:type="locator" />
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    <link:label id="lab_clns_ImpairmentofRealEstateandIntangibleAssets_6FBB1B0C615EFE28C954E2829CFF74BA_terseLabel_en-US" xlink:label="lab_clns_ImpairmentofRealEstateandIntangibleAssets_6FBB1B0C615EFE28C954E2829CFF74BA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment loss</link:label>
    <link:label id="lab_clns_ImpairmentofRealEstateandIntangibleAssets_6FBB1B0C615EFE28C954E2829CFF74BA_label_en-US" xlink:label="lab_clns_ImpairmentofRealEstateandIntangibleAssets_6FBB1B0C615EFE28C954E2829CFF74BA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment of Real Estate and Intangible Assets</link:label>
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    <link:label id="lab_clns_DirectorStockPlanMember_8C03BDC43A85414D9639DF5534E4C89A_documentation_en-US" xlink:label="lab_clns_DirectorStockPlanMember_8C03BDC43A85414D9639DF5534E4C89A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Director stock plan.</link:label>
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    <link:label id="lab_clns_EquityIncentivePlan2014Member_1454C80243566D8DA696DF5534E42F07_terseLabel_en-US" xlink:label="lab_clns_EquityIncentivePlan2014Member_1454C80243566D8DA696DF5534E42F07" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Incentive Plan, 2014</link:label>
    <link:label id="lab_clns_EquityIncentivePlan2014Member_1454C80243566D8DA696DF5534E42F07_label_en-US" xlink:label="lab_clns_EquityIncentivePlan2014Member_1454C80243566D8DA696DF5534E42F07" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Incentive Plan, 2014 [Member]</link:label>
    <link:label id="lab_clns_EquityIncentivePlan2014Member_1454C80243566D8DA696DF5534E42F07_documentation_en-US" xlink:label="lab_clns_EquityIncentivePlan2014Member_1454C80243566D8DA696DF5534E42F07" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Incentive Plan, 2014 [Member]</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_EquityIncentivePlan2014Member" xlink:label="loc_clns_EquityIncentivePlan2014Member_1454C80243566D8DA696DF5534E42F07" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_EquityIncentivePlan2014Member_1454C80243566D8DA696DF5534E42F07" xlink:to="lab_clns_EquityIncentivePlan2014Member_1454C80243566D8DA696DF5534E42F07" xlink:type="arc" />
    <link:label id="lab_clns_NSAMStockPlanMember_832352588566757C0159DF5534E4E0D3_terseLabel_en-US" xlink:label="lab_clns_NSAMStockPlanMember_832352588566757C0159DF5534E4E0D3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">NSAM Stock Plan</link:label>
    <link:label id="lab_clns_NSAMStockPlanMember_832352588566757C0159DF5534E4E0D3_label_en-US" xlink:label="lab_clns_NSAMStockPlanMember_832352588566757C0159DF5534E4E0D3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">NSAM Stock Plan [Member]</link:label>
    <link:label id="lab_clns_NSAMStockPlanMember_832352588566757C0159DF5534E4E0D3_documentation_en-US" xlink:label="lab_clns_NSAMStockPlanMember_832352588566757C0159DF5534E4E0D3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">NSAM Stock Plan [Member]</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_NSAMStockPlanMember" xlink:label="loc_clns_NSAMStockPlanMember_832352588566757C0159DF5534E4E0D3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_NSAMStockPlanMember_832352588566757C0159DF5534E4E0D3" xlink:to="lab_clns_NSAMStockPlanMember_832352588566757C0159DF5534E4E0D3" xlink:type="arc" />
    <link:label id="lab_clns_NRFIncentivePlanMember_4EB934560665D02C1110DF5534E41C1F_terseLabel_en-US" xlink:label="lab_clns_NRFIncentivePlanMember_4EB934560665D02C1110DF5534E41C1F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">NRF Incentive Plan</link:label>
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    <link:label id="lab_clns_NRFIncentivePlanMember_4EB934560665D02C1110DF5534E41C1F_documentation_en-US" xlink:label="lab_clns_NRFIncentivePlanMember_4EB934560665D02C1110DF5534E41C1F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">NRF Incentive Plan [Member]</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_NRFIncentivePlanMember" xlink:label="loc_clns_NRFIncentivePlanMember_4EB934560665D02C1110DF5534E41C1F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_NRFIncentivePlanMember_4EB934560665D02C1110DF5534E41C1F" xlink:to="lab_clns_NRFIncentivePlanMember_4EB934560665D02C1110DF5534E41C1F" xlink:type="arc" />
    <link:label id="lab_clns_CLNSEquityIncentivePlanMember_D96D4D695CE46AEFCE61DF5534E47FE9_terseLabel_en-US" xlink:label="lab_clns_CLNSEquityIncentivePlanMember_D96D4D695CE46AEFCE61DF5534E47FE9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">CLNS Equity Incentive Plan</link:label>
    <link:label id="lab_clns_CLNSEquityIncentivePlanMember_D96D4D695CE46AEFCE61DF5534E47FE9_label_en-US" xlink:label="lab_clns_CLNSEquityIncentivePlanMember_D96D4D695CE46AEFCE61DF5534E47FE9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CLNS Equity Incentive Plan [Member]</link:label>
    <link:label id="lab_clns_CLNSEquityIncentivePlanMember_D96D4D695CE46AEFCE61DF5534E47FE9_documentation_en-US" xlink:label="lab_clns_CLNSEquityIncentivePlanMember_D96D4D695CE46AEFCE61DF5534E47FE9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">CLNS Equity Incentive Plan [Member]</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_CLNSEquityIncentivePlanMember" xlink:label="loc_clns_CLNSEquityIncentivePlanMember_D96D4D695CE46AEFCE61DF5534E47FE9" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_0DDD00E8E00C5B6B9029DF5534E48CE5" xlink:type="locator" />
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    <link:label id="lab_clns_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardsExpectedToBeGranted_4AD1B93A307335767320DF5534E61A38_terseLabel_en-US" xlink:label="lab_clns_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardsExpectedToBeGranted_4AD1B93A307335767320DF5534E61A38" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares to be issued under the plan</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_956932640B7FF7A19BE6DF5534E7A11C_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_956932640B7FF7A19BE6DF5534E7A11C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares authorized</link:label>
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    <link:label id="lab_clns_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorizedPercentIncrease_DE5272EA82D305E12A91DF5534E7F727_terseLabel_en-US" xlink:label="lab_clns_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorizedPercentIncrease_DE5272EA82D305E12A91DF5534E7F727" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares authorized, percent increase</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_084DE2C08241C7D1DF2BDF5534E72824_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_084DE2C08241C7D1DF2BDF5534E72824" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of shares vested</link:label>
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    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_BD592140F269F96E7D3EDF5534E79F26_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_BD592140F269F96E7D3EDF5534E79F26" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate unrecognized compensation cost related to restricted stock granted</link:label>
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    <link:label id="lab_us-gaap_DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection_B6D8D22C891C674F205DC3AE74E6B2DD_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection_83EAD4157EE859C889B177738A9BD038" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Net Amounts of Assets (Liabilities)</link:label>
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    <link:loc xlink:href="clns-20171231.xsd#clns_GroundLeasesMember" xlink:label="loc_clns_GroundLeasesMember_9A8E79E7B71F0E780384DE39B6B7D1CD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_GroundLeasesMember_9A8E79E7B71F0E780384DE39B6B7D1CD" xlink:to="lab_clns_GroundLeasesMember_9A8E79E7B71F0E780384DE39B6B7D1CD" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasedAssetsLineItems_5AC9269EACCDF4D271AFDE39B6B74E1C_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasedAssetsLineItems_5AC9269EACCDF4D271AFDE39B6B74E1C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Leased Assets [Line Items]</link:label>
    <link:label id="lab_us-gaap_OperatingLeasedAssetsLineItems_5AC9269EACCDF4D271AFDE39B6B74E1C_label_en-US" xlink:label="lab_us-gaap_OperatingLeasedAssetsLineItems_5AC9269EACCDF4D271AFDE39B6B74E1C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leased Assets [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasedAssetsLineItems" xlink:label="loc_us-gaap_OperatingLeasedAssetsLineItems_5AC9269EACCDF4D271AFDE39B6B74E1C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasedAssetsLineItems_5AC9269EACCDF4D271AFDE39B6B74E1C" xlink:to="lab_us-gaap_OperatingLeasedAssetsLineItems_5AC9269EACCDF4D271AFDE39B6B74E1C" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableAbstract_766254E91CD270D3223EDE39B6B7CC69_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableAbstract_766254E91CD270D3223EDE39B6B7CC69" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future Contractual Minimum Rental Payments to be Received:</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableAbstract_766254E91CD270D3223EDE39B6B7CC69_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableAbstract_766254E91CD270D3223EDE39B6B7CC69" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Receivable [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableAbstract" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableAbstract_766254E91CD270D3223EDE39B6B7CC69" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableAbstract_766254E91CD270D3223EDE39B6B7CC69" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableAbstract_766254E91CD270D3223EDE39B6B7CC69" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_4BA138CA1827EAB15352DE39B6B78AD9_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_4BA138CA1827EAB15352DE39B6B78AD9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2018</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_4BA138CA1827EAB15352DE39B6B78AD9_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_4BA138CA1827EAB15352DE39B6B78AD9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Receivable, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_4BA138CA1827EAB15352DE39B6B78AD9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_4BA138CA1827EAB15352DE39B6B78AD9" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_4BA138CA1827EAB15352DE39B6B78AD9" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_1BD809439032ECDEE7F3DE39B6B75954_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_1BD809439032ECDEE7F3DE39B6B75954" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2019</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_1BD809439032ECDEE7F3DE39B6B75954_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_1BD809439032ECDEE7F3DE39B6B75954" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Receivable, in Two Years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_1BD809439032ECDEE7F3DE39B6B75954" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_1BD809439032ECDEE7F3DE39B6B75954" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_1BD809439032ECDEE7F3DE39B6B75954" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_A640A80B58FDB452AD25DE39B6B8193C_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_A640A80B58FDB452AD25DE39B6B8193C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_A640A80B58FDB452AD25DE39B6B8193C_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_A640A80B58FDB452AD25DE39B6B8193C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Receivable, in Three Years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_A640A80B58FDB452AD25DE39B6B8193C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_A640A80B58FDB452AD25DE39B6B8193C" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_A640A80B58FDB452AD25DE39B6B8193C" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_E566564C85393F5E148BDE39B6B8267D_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_E566564C85393F5E148BDE39B6B8267D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2021</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_E566564C85393F5E148BDE39B6B8267D_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_E566564C85393F5E148BDE39B6B8267D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Receivable, in Four Years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_E566564C85393F5E148BDE39B6B8267D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_E566564C85393F5E148BDE39B6B8267D" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_E566564C85393F5E148BDE39B6B8267D" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_8308DC819D8B2CED196EDE39B6B8AE21_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_8308DC819D8B2CED196EDE39B6B8AE21" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2022</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_8308DC819D8B2CED196EDE39B6B8AE21_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_8308DC819D8B2CED196EDE39B6B8AE21" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Receivable, in Five Years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_8308DC819D8B2CED196EDE39B6B8AE21" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_8308DC819D8B2CED196EDE39B6B8AE21" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_8308DC819D8B2CED196EDE39B6B8AE21" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_03DC9E7678670C6C531DDE39B6B81FF8_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_03DC9E7678670C6C531DDE39B6B81FF8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2023 and thereafter</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_03DC9E7678670C6C531DDE39B6B81FF8_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_03DC9E7678670C6C531DDE39B6B81FF8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Receivable, Thereafter</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_03DC9E7678670C6C531DDE39B6B81FF8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_03DC9E7678670C6C531DDE39B6B81FF8" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_03DC9E7678670C6C531DDE39B6B81FF8" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_22E6A283B1D71B428459DE39B6B8B7F5_totalLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_22E6A283B1D71B428459DE39B6B8B7F5" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_22E6A283B1D71B428459DE39B6B8B7F5_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_22E6A283B1D71B428459DE39B6B8B7F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Receivable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_22E6A283B1D71B428459DE39B6B8B7F5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_22E6A283B1D71B428459DE39B6B8B7F5" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_22E6A283B1D71B428459DE39B6B8B7F5" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_EC43B4144FE8E9B50723DE39B6B8E0F8_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_EC43B4144FE8E9B50723DE39B6B8E0F8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future Minimum Rental Payments Due on Noncancellable Ground Leases:</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_EC43B4144FE8E9B50723DE39B6B8E0F8_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_EC43B4144FE8E9B50723DE39B6B8E0F8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_EC43B4144FE8E9B50723DE39B6B8E0F8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_EC43B4144FE8E9B50723DE39B6B8E0F8" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_EC43B4144FE8E9B50723DE39B6B8E0F8" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_F20DCB497965F892595DDE39B6B896C5_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_F20DCB497965F892595DDE39B6B896C5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2018</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_F20DCB497965F892595DDE39B6B896C5_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_F20DCB497965F892595DDE39B6B896C5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Due, Next Twelve Months</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_F20DCB497965F892595DDE39B6B896C5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_F20DCB497965F892595DDE39B6B896C5" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_F20DCB497965F892595DDE39B6B896C5" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_71B7ED860EF9B6BCED4EDE39B6B82984_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_71B7ED860EF9B6BCED4EDE39B6B82984" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2019</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_71B7ED860EF9B6BCED4EDE39B6B82984_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_71B7ED860EF9B6BCED4EDE39B6B82984" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Two Years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_71B7ED860EF9B6BCED4EDE39B6B82984" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_71B7ED860EF9B6BCED4EDE39B6B82984" xlink:to="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_71B7ED860EF9B6BCED4EDE39B6B82984" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_AF77D3732CF32DFDAACFDE39B6B86FB4_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_AF77D3732CF32DFDAACFDE39B6B86FB4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_AF77D3732CF32DFDAACFDE39B6B86FB4_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_AF77D3732CF32DFDAACFDE39B6B86FB4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Three Years</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_AF77D3732CF32DFDAACFDE39B6B86FB4" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_2185F7C2F2ABAD954F02DE39B6B91F75_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_2185F7C2F2ABAD954F02DE39B6B91F75" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2021</link:label>
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    <link:label id="lab_clns_MortgageLoansonRealEstatePaidinKIndInterestAddedtoLoanPrincipal_BEA6BC65EDEE017D3725E2C121C0821A_terseLabel_en-US" xlink:label="lab_clns_MortgageLoansonRealEstatePaidinKIndInterestAddedtoLoanPrincipal_BEA6BC65EDEE017D3725E2C121C0821A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Paid-in-kind interest added to loan principal</link:label>
    <link:label id="lab_clns_MortgageLoansonRealEstatePaidinKIndInterestAddedtoLoanPrincipal_BEA6BC65EDEE017D3725E2C121C0821A_label_en-US" xlink:label="lab_clns_MortgageLoansonRealEstatePaidinKIndInterestAddedtoLoanPrincipal_BEA6BC65EDEE017D3725E2C121C0821A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, Paid-in-KInd Interest Added to Loan Principal</link:label>
    <link:label id="lab_clns_MortgageLoansonRealEstatePaidinKIndInterestAddedtoLoanPrincipal_BEA6BC65EDEE017D3725E2C121C0821A_documentation_en-US" xlink:label="lab_clns_MortgageLoansonRealEstatePaidinKIndInterestAddedtoLoanPrincipal_BEA6BC65EDEE017D3725E2C121C0821A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, Paid-in-KInd Interest Added to Loan Principal</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_MortgageLoansonRealEstatePaidinKIndInterestAddedtoLoanPrincipal" xlink:label="loc_clns_MortgageLoansonRealEstatePaidinKIndInterestAddedtoLoanPrincipal_BEA6BC65EDEE017D3725E2C121C0821A" xlink:type="locator" />
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    <link:label id="lab_clns_MortgageLoansonRealEstateDiscountandNetLoanFeeAmortization_DA13F5A4C3CEB3C394CAE2C121C0F484_terseLabel_en-US" xlink:label="lab_clns_MortgageLoansonRealEstateDiscountandNetLoanFeeAmortization_DA13F5A4C3CEB3C394CAE2C121C0F484" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount and net loan fee amortization</link:label>
    <link:label id="lab_clns_MortgageLoansonRealEstateDiscountandNetLoanFeeAmortization_DA13F5A4C3CEB3C394CAE2C121C0F484_label_en-US" xlink:label="lab_clns_MortgageLoansonRealEstateDiscountandNetLoanFeeAmortization_DA13F5A4C3CEB3C394CAE2C121C0F484" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, Discount and Net Loan Fee Amortization</link:label>
    <link:label id="lab_clns_MortgageLoansonRealEstateDiscountandNetLoanFeeAmortization_DA13F5A4C3CEB3C394CAE2C121C0F484_documentation_en-US" xlink:label="lab_clns_MortgageLoansonRealEstateDiscountandNetLoanFeeAmortization_DA13F5A4C3CEB3C394CAE2C121C0F484" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, Discount and Net Loan Fee Amortization</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_MortgageLoansonRealEstateDiscountandNetLoanFeeAmortization" xlink:label="loc_clns_MortgageLoansonRealEstateDiscountandNetLoanFeeAmortization_DA13F5A4C3CEB3C394CAE2C121C0F484" xlink:type="locator" />
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    <link:label id="lab_clns_MortgageLoansonRealEstateLoanRepayments_E170D59101A04528E5D6E2C121C042DC_negatedTerseLabel_en-US" xlink:label="lab_clns_MortgageLoansonRealEstateLoanRepayments_E170D59101A04528E5D6E2C121C042DC" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Loan repayments</link:label>
    <link:label id="lab_clns_MortgageLoansonRealEstateLoanRepayments_E170D59101A04528E5D6E2C121C042DC_label_en-US" xlink:label="lab_clns_MortgageLoansonRealEstateLoanRepayments_E170D59101A04528E5D6E2C121C042DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, Loan Repayments</link:label>
    <link:label id="lab_clns_MortgageLoansonRealEstateLoanRepayments_E170D59101A04528E5D6E2C121C042DC_documentation_en-US" xlink:label="lab_clns_MortgageLoansonRealEstateLoanRepayments_E170D59101A04528E5D6E2C121C042DC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, Loan Repayments</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_MortgageLoansonRealEstateLoanRepayments" xlink:label="loc_clns_MortgageLoansonRealEstateLoanRepayments_E170D59101A04528E5D6E2C121C042DC" xlink:type="locator" />
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    <link:label id="lab_clns_MortgageLoansonRealEstatePaymentsReceviedonPCILoans_61E397C57019119FCD20E2C121C09520_negatedTerseLabel_en-US" xlink:label="lab_clns_MortgageLoansonRealEstatePaymentsReceviedonPCILoans_61E397C57019119FCD20E2C121C09520" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payments received from PCI loans</link:label>
    <link:label id="lab_clns_MortgageLoansonRealEstatePaymentsReceviedonPCILoans_61E397C57019119FCD20E2C121C09520_label_en-US" xlink:label="lab_clns_MortgageLoansonRealEstatePaymentsReceviedonPCILoans_61E397C57019119FCD20E2C121C09520" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, Payments Recevied on PCI Loans</link:label>
    <link:label id="lab_clns_MortgageLoansonRealEstatePaymentsReceviedonPCILoans_61E397C57019119FCD20E2C121C09520_documentation_en-US" xlink:label="lab_clns_MortgageLoansonRealEstatePaymentsReceviedonPCILoans_61E397C57019119FCD20E2C121C09520" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, Payments Recevied on PCI Loans</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_MortgageLoansonRealEstatePaymentsReceviedonPCILoans" xlink:label="loc_clns_MortgageLoansonRealEstatePaymentsReceviedonPCILoans_61E397C57019119FCD20E2C121C09520" xlink:type="locator" />
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    <link:label id="lab_clns_MortgageLoansonRealEstateAccretiononPCILoans_16E798484274C30D0962E2C121C05773_terseLabel_en-US" xlink:label="lab_clns_MortgageLoansonRealEstateAccretiononPCILoans_16E798484274C30D0962E2C121C05773" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accretion on PCI loans</link:label>
    <link:label id="lab_clns_MortgageLoansonRealEstateAccretiononPCILoans_16E798484274C30D0962E2C121C05773_label_en-US" xlink:label="lab_clns_MortgageLoansonRealEstateAccretiononPCILoans_16E798484274C30D0962E2C121C05773" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, Accretion on PCI Loans</link:label>
    <link:label id="lab_clns_MortgageLoansonRealEstateAccretiononPCILoans_16E798484274C30D0962E2C121C05773_documentation_en-US" xlink:label="lab_clns_MortgageLoansonRealEstateAccretiononPCILoans_16E798484274C30D0962E2C121C05773" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, Accretion on PCI Loans</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_MortgageLoansonRealEstateAccretiononPCILoans" xlink:label="loc_clns_MortgageLoansonRealEstateAccretiononPCILoans_16E798484274C30D0962E2C121C05773" xlink:type="locator" />
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    <link:label id="lab_clns_MortgageLoansonRealEstateTransferofLoansHeldforSale_CFB4FA3414576DB6BD10E2C121C0375F_negatedTerseLabel_en-US" xlink:label="lab_clns_MortgageLoansonRealEstateTransferofLoansHeldforSale_CFB4FA3414576DB6BD10E2C121C0375F" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Transfer to loans held for sale</link:label>
    <link:label id="lab_clns_MortgageLoansonRealEstateTransferofLoansHeldforSale_CFB4FA3414576DB6BD10E2C121C0375F_label_en-US" xlink:label="lab_clns_MortgageLoansonRealEstateTransferofLoansHeldforSale_CFB4FA3414576DB6BD10E2C121C0375F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, Transfer of Loans Held for Sale</link:label>
    <link:label id="lab_clns_MortgageLoansonRealEstateTransferofLoansHeldforSale_CFB4FA3414576DB6BD10E2C121C0375F_documentation_en-US" xlink:label="lab_clns_MortgageLoansonRealEstateTransferofLoansHeldforSale_CFB4FA3414576DB6BD10E2C121C0375F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, Transfer of Loans Held for Sale</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_MortgageLoansonRealEstateTransferofLoansHeldforSale" xlink:label="loc_clns_MortgageLoansonRealEstateTransferofLoansHeldforSale_CFB4FA3414576DB6BD10E2C121C0375F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_MortgageLoansonRealEstateTransferofLoansHeldforSale_CFB4FA3414576DB6BD10E2C121C0375F" xlink:to="lab_clns_MortgageLoansonRealEstateTransferofLoansHeldforSale_CFB4FA3414576DB6BD10E2C121C0375F" xlink:type="arc" />
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold_B206F0EAC8D1E3FF6A62E2C121C0D4DD_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold_B206F0EAC8D1E3FF6A62E2C121C0D4DD" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Carrying value of loans sold</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold_B206F0EAC8D1E3FF6A62E2C121C0D4DD_label_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold_B206F0EAC8D1E3FF6A62E2C121C0D4DD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, Cost of Mortgages Sold</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold" xlink:label="loc_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold_B206F0EAC8D1E3FF6A62E2C121C0D4DD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold_B206F0EAC8D1E3FF6A62E2C121C0D4DD" xlink:to="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold_B206F0EAC8D1E3FF6A62E2C121C0D4DD" xlink:type="arc" />
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateForeclosures_EBD4C664B7553F88FE6BE2C121C0DC62_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateForeclosures_EBD4C664B7553F88FE6BE2C121C0DC62" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Transfer to real estate assets upon foreclosure</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateForeclosures_EBD4C664B7553F88FE6BE2C121C0DC62_label_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateForeclosures_EBD4C664B7553F88FE6BE2C121C0DC62" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, Foreclosures</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MortgageLoansOnRealEstateForeclosures" xlink:label="loc_us-gaap_MortgageLoansOnRealEstateForeclosures_EBD4C664B7553F88FE6BE2C121C0DC62" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageLoansOnRealEstateForeclosures_EBD4C664B7553F88FE6BE2C121C0DC62" xlink:to="lab_us-gaap_MortgageLoansOnRealEstateForeclosures_EBD4C664B7553F88FE6BE2C121C0DC62" xlink:type="arc" />
    <link:label id="lab_clns_MortgageLoansonRealEstateProvisionforLoanLosses_39B26A9EC769C11BD1DFE2C121C0171F_negatedTerseLabel_en-US" xlink:label="lab_clns_MortgageLoansonRealEstateProvisionforLoanLosses_39B26A9EC769C11BD1DFE2C121C0171F" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Provision for loan losses</link:label>
    <link:label id="lab_clns_MortgageLoansonRealEstateProvisionforLoanLosses_39B26A9EC769C11BD1DFE2C121C0171F_label_en-US" xlink:label="lab_clns_MortgageLoansonRealEstateProvisionforLoanLosses_39B26A9EC769C11BD1DFE2C121C0171F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, Provision for Loan Losses</link:label>
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    <link:loc xlink:href="clns-20171231.xsd#clns_MortgageLoansonRealEstateProvisionforLoanLosses" xlink:label="loc_clns_MortgageLoansonRealEstateProvisionforLoanLosses_39B26A9EC769C11BD1DFE2C121C0171F" xlink:type="locator" />
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    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateOtherDeductions_853F6728056B60936037E2C121C09259_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateOtherDeductions_853F6728056B60936037E2C121C09259" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Other gain (loss)</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MortgageLoansOnRealEstateOtherDeductions" xlink:label="loc_us-gaap_MortgageLoansOnRealEstateOtherDeductions_853F6728056B60936037E2C121C09259" xlink:type="locator" />
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    <link:label id="lab_clns_MortgageLoansonRealEstateConsolidationofLoansReceivableHeldByInvestementEntitiesandSecuritizationTrusts_EFE2C4F80F1119FEE79EE2C121C0B15C_terseLabel_en-US" xlink:label="lab_clns_MortgageLoansonRealEstateConsolidationofLoansReceivableHeldByInvestementEntitiesandSecuritizationTrusts_EFE2C4F80F1119FEE79EE2C121C0B15C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidation of loans receivable held by investment entities and securitization trusts (Notes 3 and 5)</link:label>
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    <link:label id="lab_clns_MixedUsePropertyandRetailMember_606B0F8E63EE544BA188E2D93D152012_terseLabel_en-US" xlink:label="lab_clns_MixedUsePropertyandRetailMember_606B0F8E63EE544BA188E2D93D152012" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mixed/Retail</link:label>
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    <link:label id="lab_clns_MixedUsePropertyandRetailMember_606B0F8E63EE544BA188E2D93D152012_documentation_en-US" xlink:label="lab_clns_MixedUsePropertyandRetailMember_606B0F8E63EE544BA188E2D93D152012" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mixed Use Property and Retail [Member]</link:label>
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    <link:label id="lab_clns_HotelMixedIndustrialLeisureMultifamilyOfficeRetailAndResidentialOtherEquityandDebtMember_42BCEB9E6709DC848948E2D93D15AA21_terseLabel_en-US" xlink:label="lab_clns_HotelMixedIndustrialLeisureMultifamilyOfficeRetailAndResidentialOtherEquityandDebtMember_42BCEB9E6709DC848948E2D93D15AA21" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hotel, Mixed, Industrial, Leisure, Multifamily, Office, Retail And Residential - Other Equity and Debt</link:label>
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    <link:loc xlink:href="clns-20171231.xsd#clns_HotelMixedIndustrialLeisureMultifamilyOfficeRetailAndResidentialOtherEquityandDebtMember" xlink:label="loc_clns_HotelMixedIndustrialLeisureMultifamilyOfficeRetailAndResidentialOtherEquityandDebtMember_42BCEB9E6709DC848948E2D93D15AA21" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OtherPropertyMember_E0BFAF3C7604DC16F31DE2D93D1515DA_terseLabel_en-US" xlink:label="lab_us-gaap_OtherPropertyMember_E0BFAF3C7604DC16F31DE2D93D1515DA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Property</link:label>
    <link:label id="lab_us-gaap_OtherPropertyMember_E0BFAF3C7604DC16F31DE2D93D1515DA_label_en-US" xlink:label="lab_us-gaap_OtherPropertyMember_E0BFAF3C7604DC16F31DE2D93D1515DA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Property [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherPropertyMember" xlink:label="loc_us-gaap_OtherPropertyMember_E0BFAF3C7604DC16F31DE2D93D1515DA" xlink:type="locator" />
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    <link:label id="lab_us-gaap_MajorPropertyClassAxis_EF4F94215958D2FD671AE2D93D1567C0_terseLabel_en-US" xlink:label="lab_us-gaap_MajorPropertyClassAxis_EF4F94215958D2FD671AE2D93D1567C0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Major Property Class [Axis]</link:label>
    <link:label id="lab_us-gaap_MajorPropertyClassAxis_EF4F94215958D2FD671AE2D93D1567C0_label_en-US" xlink:label="lab_us-gaap_MajorPropertyClassAxis_EF4F94215958D2FD671AE2D93D1567C0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Major Property Class [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MajorPropertyClassAxis" xlink:label="loc_us-gaap_MajorPropertyClassAxis_EF4F94215958D2FD671AE2D93D1567C0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MajorPropertyClassAxis_EF4F94215958D2FD671AE2D93D1567C0" xlink:to="lab_us-gaap_MajorPropertyClassAxis_EF4F94215958D2FD671AE2D93D1567C0" xlink:type="arc" />
    <link:label id="lab_us-gaap_MajorPropertyClassDomain_D870ABE52E1D23FDF967E2D93D1508C8_terseLabel_en-US" xlink:label="lab_us-gaap_MajorPropertyClassDomain_D870ABE52E1D23FDF967E2D93D1508C8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Major Property Class [Domain]</link:label>
    <link:label id="lab_us-gaap_MajorPropertyClassDomain_D870ABE52E1D23FDF967E2D93D1508C8_label_en-US" xlink:label="lab_us-gaap_MajorPropertyClassDomain_D870ABE52E1D23FDF967E2D93D1508C8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Major Property Class [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MajorPropertyClassDomain" xlink:label="loc_us-gaap_MajorPropertyClassDomain_D870ABE52E1D23FDF967E2D93D1508C8" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_4D0C9ECD1FB348BC30EBE2D93D15F5CA_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_4D0C9ECD1FB348BC30EBE2D93D15F5CA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Held-for-Sale</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember" xlink:label="loc_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_4D0C9ECD1FB348BC30EBE2D93D15F5CA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_4D0C9ECD1FB348BC30EBE2D93D15F5CA" xlink:to="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_4D0C9ECD1FB348BC30EBE2D93D15F5CA" xlink:type="arc" />
    <link:label id="lab_us-gaap_BuildingAndBuildingImprovementsMember_36E91BAFEDD1BD844F56E2D93D1558B4_terseLabel_en-US" xlink:label="lab_us-gaap_BuildingAndBuildingImprovementsMember_36E91BAFEDD1BD844F56E2D93D1558B4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buildings and improvements</link:label>
    <link:label id="lab_us-gaap_BuildingAndBuildingImprovementsMember_36E91BAFEDD1BD844F56E2D93D1558B4_label_en-US" xlink:label="lab_us-gaap_BuildingAndBuildingImprovementsMember_36E91BAFEDD1BD844F56E2D93D1558B4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Building and Building Improvements [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BuildingAndBuildingImprovementsMember" xlink:label="loc_us-gaap_BuildingAndBuildingImprovementsMember_36E91BAFEDD1BD844F56E2D93D1558B4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BuildingAndBuildingImprovementsMember_36E91BAFEDD1BD844F56E2D93D1558B4" xlink:to="lab_us-gaap_BuildingAndBuildingImprovementsMember_36E91BAFEDD1BD844F56E2D93D1558B4" xlink:type="arc" />
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationLineItems_727CFAEE8D739F60AFCBE2D93D1614A2" xlink:to="lab_us-gaap_RealEstateAndAccumulatedDepreciationLineItems_727CFAEE8D739F60AFCBE2D93D1614A2" xlink:type="arc" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances_F4549959361FACCFE03AE2D93D16A4A9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances_F4549959361FACCFE03AE2D93D16A4A9" xlink:to="lab_us-gaap_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances_F4549959361FACCFE03AE2D93D16A4A9" xlink:type="arc" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand_BB87599821128A4D338CE2D93D16ADDC" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_0B49EFE6BD7051B18F3BE2D93D167A76_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_0B49EFE6BD7051B18F3BE2D93D167A76" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buildings and Improvements</link:label>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_0B49EFE6BD7051B18F3BE2D93D167A76_label_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_0B49EFE6BD7051B18F3BE2D93D167A76" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_0B49EFE6BD7051B18F3BE2D93D167A76" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_0B49EFE6BD7051B18F3BE2D93D167A76" xlink:to="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_0B49EFE6BD7051B18F3BE2D93D167A76" xlink:type="arc" />
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts_EAC17B261819BD68669CE2D93D169EFB_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts_EAC17B261819BD68669CE2D93D169EFB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Costs Capitalized</link:label>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts_EAC17B261819BD68669CE2D93D169EFB_label_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts_EAC17B261819BD68669CE2D93D169EFB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts_EAC17B261819BD68669CE2D93D169EFB" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsAbstract_8A2E28D7E35BCBC7FF2FE2D93D16818C_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsAbstract_8A2E28D7E35BCBC7FF2FE2D93D16818C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gross Cost Basis at December 31, 2017</link:label>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsAbstract_8A2E28D7E35BCBC7FF2FE2D93D16818C_label_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLandAndBuildingsAndImprovementsAbstract_8A2E28D7E35BCBC7FF2FE2D93D16818C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Gross [Abstract]</link:label>
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    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_550DA8862EDC132E1998E2D93D169F3B_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_550DA8862EDC132E1998E2D93D169F3B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land</link:label>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_550DA8862EDC132E1998E2D93D169F3B_label_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_550DA8862EDC132E1998E2D93D169F3B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_550DA8862EDC132E1998E2D93D169F3B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_EDCED95EB6E79E3E26DAE2D93D1607D7_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_EDCED95EB6E79E3E26DAE2D93D1607D7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buildings and Improvements</link:label>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_EDCED95EB6E79E3E26DAE2D93D1607D7_label_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_EDCED95EB6E79E3E26DAE2D93D1607D7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_EDCED95EB6E79E3E26DAE2D93D1607D7" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RealEstateGrossAtCarryingValue_171726CD0AB166FB6ABAE2D93D16391C_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateGrossAtCarryingValue_171726CD0AB166FB6ABAE2D93D16391C" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_RealEstateGrossAtCarryingValue_171726CD0AB166FB6ABAE2D93D16391C_label_en-US" xlink:label="lab_us-gaap_RealEstateGrossAtCarryingValue_171726CD0AB166FB6ABAE2D93D16391C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Gross</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateAccumulatedDepreciation" xlink:label="loc_us-gaap_RealEstateAccumulatedDepreciation_63F45E765AFA31B01A6DE2D93D165FBD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAccumulatedDepreciation_63F45E765AFA31B01A6DE2D93D165FBD" xlink:to="lab_us-gaap_RealEstateAccumulatedDepreciation_63F45E765AFA31B01A6DE2D93D165FBD" xlink:type="arc" />
    <link:label id="lab_us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNet_1BAD66DF667C4C4943A6E2D93D162E07_totalLabel_en-US" xlink:label="lab_us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNet_1BAD66DF667C4C4943A6E2D93D162E07" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net Carrying Amount</link:label>
    <link:label id="lab_us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNet_1BAD66DF667C4C4943A6E2D93D162E07_label_en-US" xlink:label="lab_us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNet_1BAD66DF667C4C4943A6E2D93D162E07" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate Investment Property, Net</link:label>
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    <link:label id="lab_clns_DisposalGroupIncludingDiscontinuedOperationRealEstateAssets_3D1ECD8BD2EBFEF6AF40E2D93D16191E_verboseLabel_en-US" xlink:label="lab_clns_DisposalGroupIncludingDiscontinuedOperationRealEstateAssets_3D1ECD8BD2EBFEF6AF40E2D93D16191E" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Real estate held for sale</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_DisposalGroupIncludingDiscontinuedOperationRealEstateAssets" xlink:label="loc_clns_DisposalGroupIncludingDiscontinuedOperationRealEstateAssets_3D1ECD8BD2EBFEF6AF40E2D93D16191E" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RealEstateFederalIncomeTaxBasis_98A29F8783EF1DD5605AE2D93D16248B_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateFederalIncomeTaxBasis_98A29F8783EF1DD5605AE2D93D16248B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate tax basis</link:label>
    <link:label id="lab_us-gaap_RealEstateFederalIncomeTaxBasis_98A29F8783EF1DD5605AE2D93D16248B_label_en-US" xlink:label="lab_us-gaap_RealEstateFederalIncomeTaxBasis_98A29F8783EF1DD5605AE2D93D16248B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Federal Income Tax Basis</link:label>
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    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1_C1A8FA1B4F4B1998BDD9E2D93D16B458_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationLifeUsedForDepreciation1_C1A8FA1B4F4B1998BDD9E2D93D16B458" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Useful life used for depreciation</link:label>
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    <link:label id="lab_clns_ManagementFeePercentofGrossAssetsOrEquity_BC7A467F26E7C7440C9DDE39A55D9E93_terseLabel_en-US" xlink:label="lab_clns_ManagementFeePercentofGrossAssetsOrEquity_BC7A467F26E7C7440C9DDE39A55D9E93" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of gross assets or equity</link:label>
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    <link:label id="lab_clns_ManagementFeePercentofAverageNetAssets_91AFC18C3326597F7377DE39A55DD7A5_terseLabel_en-US" xlink:label="lab_clns_ManagementFeePercentofAverageNetAssets_91AFC18C3326597F7377DE39A55DD7A5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of average net assets</link:label>
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    <link:loc xlink:href="clns-20171231.xsd#clns_ManagementFeePercentofAverageNetAssets" xlink:label="loc_clns_ManagementFeePercentofAverageNetAssets_91AFC18C3326597F7377DE39A55DD7A5" xlink:type="locator" />
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    <link:loc xlink:href="clns-20171231.xsd#clns_ManagementFeesRevenuePercentIncreasePerYear" xlink:label="loc_clns_ManagementFeesRevenuePercentIncreasePerYear_F867708171C6926F111BDE39A55D9345" xlink:type="locator" />
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    <link:loc xlink:href="clns-20171231.xsd#clns_ManagementFeesRevenuePercentOfAmountFundedOrAllocatedToOriginateOrAcquireInvestment" xlink:label="loc_clns_ManagementFeesRevenuePercentOfAmountFundedOrAllocatedToOriginateOrAcquireInvestment_064F7D156894A0A3F635DE39A55EB563" xlink:type="locator" />
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    <link:label id="lab_clns_ManagementFeesRevenuePercentOfContractualSalesPriceForDispositionOfInvestment_39023E3B74F24ECBA228DE39A55E1ABC_terseLabel_en-US" xlink:label="lab_clns_ManagementFeesRevenuePercentOfContractualSalesPriceForDispositionOfInvestment_39023E3B74F24ECBA228DE39A55E1ABC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of contractual sales price for disposition of investment</link:label>
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    <link:label id="lab_us-gaap_TradeAndOtherAccountsReceivablePolicy_697DBC46A8F637386ED9DE39B7F4BC27_terseLabel_en-US" xlink:label="lab_us-gaap_TradeAndOtherAccountsReceivablePolicy_697DBC46A8F637386ED9DE39B7F4BC27" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts Receivable and Related Allowance</link:label>
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_B4E93A2748A10041A9AFDE39B7F46EB9_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_B4E93A2748A10041A9AFDE39B7F46EB9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed Assets</link:label>
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    <link:label id="lab_us-gaap_TransfersAndServicingOfFinancialAssetsTransfersOfFinancialAssetsFinancingsPolicy_9AFD1D8D2A87AF8B48EBDE39B7F694C9_terseLabel_en-US" xlink:label="lab_us-gaap_TransfersAndServicingOfFinancialAssetsTransfersOfFinancialAssetsFinancingsPolicy_9AFD1D8D2A87AF8B48EBDE39B7F694C9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfers of Financial Assets</link:label>
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    <link:label id="lab_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAcquiredDuringPeriodCashFlowsExpectedToBeCollectedAtAcquisition_ADAE25FF14F3CD1F2FD0DE39B68699FD_totalLabel_en-US" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAcquiredDuringPeriodCashFlowsExpectedToBeCollectedAtAcquisition_ADAE25FF14F3CD1F2FD0DE39B68699FD" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cash flows expected to be collected</link:label>
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    <link:label id="lab_clns_FixedRateCommercialMortgageMember_C0F79208152044DF98F7DE39B6A3B762_terseLabel_en-US" xlink:label="lab_clns_FixedRateCommercialMortgageMember_C0F79208152044DF98F7DE39B6A3B762" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed Rate Residential Mortgage</link:label>
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    <link:label id="lab_us-gaap_OtherPropertyMember_B943FB17B7202FD52700E2C121CAF6F9_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherPropertyMember_B943FB17B7202FD52700E2C121CAF6F9" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
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    <link:label id="lab_clns_OtherProperty2Member_D70D8C7D5CAAEA7DBCDBE2C121CA3ED9_terseLabel_en-US" xlink:label="lab_clns_OtherProperty2Member_D70D8C7D5CAAEA7DBCDBE2C121CA3ED9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_clns_OtherProperty2Member_D70D8C7D5CAAEA7DBCDBE2C121CA3ED9_label_en-US" xlink:label="lab_clns_OtherProperty2Member_D70D8C7D5CAAEA7DBCDBE2C121CA3ED9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Property 2 [Member]</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_OtherProperty2Member_D70D8C7D5CAAEA7DBCDBE2C121CA3ED9" xlink:to="lab_clns_OtherProperty2Member_D70D8C7D5CAAEA7DBCDBE2C121CA3ED9" xlink:type="arc" />
    <link:label id="lab_clns_CorporatePropertyMember_6C86A7A6EB15C0EEA28DE2C121CAF95D_terseLabel_en-US" xlink:label="lab_clns_CorporatePropertyMember_6C86A7A6EB15C0EEA28DE2C121CAF95D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Corporate</link:label>
    <link:label id="lab_clns_CorporatePropertyMember_6C86A7A6EB15C0EEA28DE2C121CAF95D_label_en-US" xlink:label="lab_clns_CorporatePropertyMember_6C86A7A6EB15C0EEA28DE2C121CAF95D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Corporate Property [Member]</link:label>
    <link:label id="lab_clns_CorporatePropertyMember_6C86A7A6EB15C0EEA28DE2C121CAF95D_documentation_en-US" xlink:label="lab_clns_CorporatePropertyMember_6C86A7A6EB15C0EEA28DE2C121CAF95D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Corporate Property [Member]</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_CorporatePropertyMember" xlink:label="loc_clns_CorporatePropertyMember_6C86A7A6EB15C0EEA28DE2C121CAF95D" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MortgageLoansOnRealEstateLoanCategoryDomain" xlink:label="loc_us-gaap_MortgageLoansOnRealEstateLoanCategoryDomain_F546894070D67F971A66E2C121CAD3CF" xlink:type="locator" />
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    <link:label id="lab_us-gaap_FirstMortgageMember_15BF72CFD6C45F406636E2C121CA9BA3_terseLabel_en-US" xlink:label="lab_us-gaap_FirstMortgageMember_15BF72CFD6C45F406636E2C121CA9BA3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">First Mortgage</link:label>
    <link:label id="lab_us-gaap_FirstMortgageMember_15BF72CFD6C45F406636E2C121CA9BA3_label_en-US" xlink:label="lab_us-gaap_FirstMortgageMember_15BF72CFD6C45F406636E2C121CA9BA3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">First Mortgage [Member]</link:label>
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    <link:label id="lab_clns_SubordinatedDebtandMezzanineMember_D5E27C8B1F5DD409490DE2C121CA5D66_terseLabel_en-US" xlink:label="lab_clns_SubordinatedDebtandMezzanineMember_D5E27C8B1F5DD409490DE2C121CA5D66" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subordinated Debt and Mezzanine</link:label>
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    <link:label id="lab_clns_PurchasedCreditImpairedLoansMember_6530D8D7CD86BE9B015DE2C121CA2FBF_terseLabel_en-US" xlink:label="lab_clns_PurchasedCreditImpairedLoansMember_6530D8D7CD86BE9B015DE2C121CA2FBF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchased Credit-Impaired Loans</link:label>
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    <link:label id="lab_clns_LoansatFairValueMember_065784DE026FAB2E0369E2C121CA19B6_terseLabel_en-US" xlink:label="lab_clns_LoansatFairValueMember_065784DE026FAB2E0369E2C121CA19B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans at fair value</link:label>
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    <link:label id="lab_clns_TrustMember_E1721712E80D66D08FD2E2D452F31775_documentation_en-US" xlink:label="lab_clns_TrustMember_E1721712E80D66D08FD2E2D452F31775" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Trust [Member]</link:label>
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    <link:label id="lab_clns_ConsolidatedopenendfundMember_C8530A525C2BB4BFCA65E2D452F3E7FE_verboseLabel_en-US" xlink:label="lab_clns_ConsolidatedopenendfundMember_C8530A525C2BB4BFCA65E2D452F3E7FE" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Consolidated open-end fund</link:label>
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    <link:label id="lab_clns_ConsolidatedopenendfundMember_C8530A525C2BB4BFCA65E2D452F3E7FE_documentation_en-US" xlink:label="lab_clns_ConsolidatedopenendfundMember_C8530A525C2BB4BFCA65E2D452F3E7FE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Consolidated open-end fund [Member]</link:label>
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    <link:label id="lab_clns_CompanySponsoredFundsMember_27AB6DD7C09BAF939386E2D452F38733_terseLabel_en-US" xlink:label="lab_clns_CompanySponsoredFundsMember_27AB6DD7C09BAF939386E2D452F38733" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company Sponsored Funds</link:label>
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    <link:label id="lab_clns_CashPledgedAsCollateralRelease_24D671B24F89D49EB6D1E2C38AC4E546_terseLabel_en-US" xlink:label="lab_clns_CashPledgedAsCollateralRelease_24D671B24F89D49EB6D1E2C38AC4E546" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash pledged as collateral, released</link:label>
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    <link:label id="lab_us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward_C278DB8BD43829D37992E2BB07E53586_terseLabel_en-US" xlink:label="lab_us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward_C278DB8BD43829D37992E2BB07E53586" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Investment in Real Estate Assets, at Gross Cost Basis</link:label>
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    <link:label id="lab_us-gaap_RealEstateOtherAcquisitions_938475C7DC8A70AF4BF4E2BB07E6B712_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateOtherAcquisitions_938475C7DC8A70AF4BF4E2BB07E6B712" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisitions</link:label>
    <link:label id="lab_us-gaap_RealEstateOtherAcquisitions_938475C7DC8A70AF4BF4E2BB07E6B712_label_en-US" xlink:label="lab_us-gaap_RealEstateOtherAcquisitions_938475C7DC8A70AF4BF4E2BB07E6B712" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Other Acquisitions</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateOtherAcquisitions" xlink:label="loc_us-gaap_RealEstateOtherAcquisitions_938475C7DC8A70AF4BF4E2BB07E6B712" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateOtherAcquisitions_938475C7DC8A70AF4BF4E2BB07E6B712" xlink:to="lab_us-gaap_RealEstateOtherAcquisitions_938475C7DC8A70AF4BF4E2BB07E6B712" xlink:type="arc" />
    <link:label id="lab_us-gaap_RealEstateImprovements_DF5A8CF25A643EC9C55AE2BB07E7AE22_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateImprovements_DF5A8CF25A643EC9C55AE2BB07E7AE22" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Improvements and capitalized costs</link:label>
    <link:label id="lab_us-gaap_RealEstateImprovements_DF5A8CF25A643EC9C55AE2BB07E7AE22_label_en-US" xlink:label="lab_us-gaap_RealEstateImprovements_DF5A8CF25A643EC9C55AE2BB07E7AE22" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Improvements</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateImprovements" xlink:label="loc_us-gaap_RealEstateImprovements_DF5A8CF25A643EC9C55AE2BB07E7AE22" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateImprovements_DF5A8CF25A643EC9C55AE2BB07E7AE22" xlink:to="lab_us-gaap_RealEstateImprovements_DF5A8CF25A643EC9C55AE2BB07E7AE22" xlink:type="arc" />
    <link:label id="lab_clns_SECScheduleIIIRealEstateGrossConsolidationbyInvestmentEntities_E374AF2EEAEEB8764041E2BB07E760CE_terseLabel_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateGrossConsolidationbyInvestmentEntities_E374AF2EEAEEB8764041E2BB07E760CE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidation of real estate held by investment entities (Note 3)</link:label>
    <link:label id="lab_clns_SECScheduleIIIRealEstateGrossConsolidationbyInvestmentEntities_E374AF2EEAEEB8764041E2BB07E760CE_label_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateGrossConsolidationbyInvestmentEntities_E374AF2EEAEEB8764041E2BB07E760CE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Gross, Consolidation by Investment Entities</link:label>
    <link:label id="lab_clns_SECScheduleIIIRealEstateGrossConsolidationbyInvestmentEntities_E374AF2EEAEEB8764041E2BB07E760CE_documentation_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateGrossConsolidationbyInvestmentEntities_E374AF2EEAEEB8764041E2BB07E760CE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Gross, Consolidation by Investment Entities</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_SECScheduleIIIRealEstateGrossConsolidationbyInvestmentEntities" xlink:label="loc_clns_SECScheduleIIIRealEstateGrossConsolidationbyInvestmentEntities_E374AF2EEAEEB8764041E2BB07E760CE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_SECScheduleIIIRealEstateGrossConsolidationbyInvestmentEntities_E374AF2EEAEEB8764041E2BB07E760CE" xlink:to="lab_clns_SECScheduleIIIRealEstateGrossConsolidationbyInvestmentEntities_E374AF2EEAEEB8764041E2BB07E760CE" xlink:type="arc" />
    <link:label id="lab_clns_SECScheduleIIIRealEstateDeconsolidationByInvestmentEntity_CB04EEECA1AB4DEB98EBE2BB07E70A0D_negatedTerseLabel_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateDeconsolidationByInvestmentEntity_CB04EEECA1AB4DEB98EBE2BB07E70A0D" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Deconsolidation of real estate held by investment entity (Note 4)</link:label>
    <link:label id="lab_clns_SECScheduleIIIRealEstateDeconsolidationByInvestmentEntity_CB04EEECA1AB4DEB98EBE2BB07E70A0D_label_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateDeconsolidationByInvestmentEntity_CB04EEECA1AB4DEB98EBE2BB07E70A0D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Deconsolidation By Investment Entity</link:label>
    <link:label id="lab_clns_SECScheduleIIIRealEstateDeconsolidationByInvestmentEntity_CB04EEECA1AB4DEB98EBE2BB07E70A0D_documentation_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateDeconsolidationByInvestmentEntity_CB04EEECA1AB4DEB98EBE2BB07E70A0D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Deconsolidation By Investment Entity</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_SECScheduleIIIRealEstateDeconsolidationByInvestmentEntity" xlink:label="loc_clns_SECScheduleIIIRealEstateDeconsolidationByInvestmentEntity_CB04EEECA1AB4DEB98EBE2BB07E70A0D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_SECScheduleIIIRealEstateDeconsolidationByInvestmentEntity_CB04EEECA1AB4DEB98EBE2BB07E70A0D" xlink:to="lab_clns_SECScheduleIIIRealEstateDeconsolidationByInvestmentEntity_CB04EEECA1AB4DEB98EBE2BB07E70A0D" xlink:type="arc" />
    <link:label id="lab_us-gaap_RealEstateCostOfRealEstateSold_7DB2CBFB67283107FEF9E2BB07E7F625_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RealEstateCostOfRealEstateSold_7DB2CBFB67283107FEF9E2BB07E7F625" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Dispositions</link:label>
    <link:label id="lab_us-gaap_RealEstateCostOfRealEstateSold_7DB2CBFB67283107FEF9E2BB07E7F625_label_en-US" xlink:label="lab_us-gaap_RealEstateCostOfRealEstateSold_7DB2CBFB67283107FEF9E2BB07E7F625" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Cost of Real Estate Sold</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateCostOfRealEstateSold" xlink:label="loc_us-gaap_RealEstateCostOfRealEstateSold_7DB2CBFB67283107FEF9E2BB07E7F625" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateCostOfRealEstateSold_7DB2CBFB67283107FEF9E2BB07E7F625" xlink:to="lab_us-gaap_RealEstateCostOfRealEstateSold_7DB2CBFB67283107FEF9E2BB07E7F625" xlink:type="arc" />
    <link:label id="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_1161E6395EE49646FC8DE2BB07E7C116_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_1161E6395EE49646FC8DE2BB07E7C116" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Impairment</link:label>
    <link:label id="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_1161E6395EE49646FC8DE2BB07E7C116_label_en-US" xlink:label="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_1161E6395EE49646FC8DE2BB07E7C116" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Write-down or Reserve, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount" xlink:label="loc_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_1161E6395EE49646FC8DE2BB07E7C116" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_1161E6395EE49646FC8DE2BB07E7C116" xlink:to="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_1161E6395EE49646FC8DE2BB07E7C116" xlink:type="arc" />
    <link:label id="lab_clns_SECScheduleIIIRealEstateIncreaseDecreaseEffectOfForeignExchangeRate_B2996A1F25075E7E3A9CE2BB07E75D51_terseLabel_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateIncreaseDecreaseEffectOfForeignExchangeRate_B2996A1F25075E7E3A9CE2BB07E75D51" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement period adjustments for real estate acquired in business combination</link:label>
    <link:label id="lab_clns_SECScheduleIIIRealEstateIncreaseDecreaseEffectOfForeignExchangeRate_B2996A1F25075E7E3A9CE2BB07E75D51_label_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateIncreaseDecreaseEffectOfForeignExchangeRate_B2996A1F25075E7E3A9CE2BB07E75D51" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Increase (Decrease) Effect Of Foreign Exchange Rate</link:label>
    <link:label id="lab_clns_SECScheduleIIIRealEstateIncreaseDecreaseEffectOfForeignExchangeRate_B2996A1F25075E7E3A9CE2BB07E75D51_documentation_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateIncreaseDecreaseEffectOfForeignExchangeRate_B2996A1F25075E7E3A9CE2BB07E75D51" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Increase (Decrease) Effect Of Foreign Exchange Rate</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_SECScheduleIIIRealEstateIncreaseDecreaseEffectOfForeignExchangeRate" xlink:label="loc_clns_SECScheduleIIIRealEstateIncreaseDecreaseEffectOfForeignExchangeRate_B2996A1F25075E7E3A9CE2BB07E75D51" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_SECScheduleIIIRealEstateIncreaseDecreaseEffectOfForeignExchangeRate_B2996A1F25075E7E3A9CE2BB07E75D51" xlink:to="lab_clns_SECScheduleIIIRealEstateIncreaseDecreaseEffectOfForeignExchangeRate_B2996A1F25075E7E3A9CE2BB07E75D51" xlink:type="arc" />
    <link:label id="lab_clns_SECScheduleIIIRealEstateGrossEffectofChangesinForeignExchangeRates_67690497675229FFEAB1E2BB07E75A66_terseLabel_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateGrossEffectofChangesinForeignExchangeRates_67690497675229FFEAB1E2BB07E75A66" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of changes in foreign exchange rates</link:label>
    <link:label id="lab_clns_SECScheduleIIIRealEstateGrossEffectofChangesinForeignExchangeRates_67690497675229FFEAB1E2BB07E75A66_label_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateGrossEffectofChangesinForeignExchangeRates_67690497675229FFEAB1E2BB07E75A66" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Gross, Effect of Changes in Foreign Exchange Rates</link:label>
    <link:label id="lab_clns_SECScheduleIIIRealEstateGrossEffectofChangesinForeignExchangeRates_67690497675229FFEAB1E2BB07E75A66_documentation_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateGrossEffectofChangesinForeignExchangeRates_67690497675229FFEAB1E2BB07E75A66" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Gross, Effect of Changes in Foreign Exchange Rates</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_SECScheduleIIIRealEstateGrossEffectofChangesinForeignExchangeRates" xlink:label="loc_clns_SECScheduleIIIRealEstateGrossEffectofChangesinForeignExchangeRates_67690497675229FFEAB1E2BB07E75A66" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_SECScheduleIIIRealEstateGrossEffectofChangesinForeignExchangeRates_67690497675229FFEAB1E2BB07E75A66" xlink:to="lab_clns_SECScheduleIIIRealEstateGrossEffectofChangesinForeignExchangeRates_67690497675229FFEAB1E2BB07E75A66" xlink:type="arc" />
    <link:label id="lab_us-gaap_RealEstateGrossAtCarryingValue_A9D8E6D5027C5897DC54E2BB07E7647B_periodEndLabel_en-US" xlink:label="lab_us-gaap_RealEstateGrossAtCarryingValue_A9D8E6D5027C5897DC54E2BB07E7647B" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at December 31</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateGrossAtCarryingValue" xlink:label="loc_us-gaap_RealEstateGrossAtCarryingValue_A9D8E6D5027C5897DC54E2BB07E7647B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateGrossAtCarryingValue_A9D8E6D5027C5897DC54E2BB07E7647B" xlink:to="lab_us-gaap_RealEstateGrossAtCarryingValue_A9D8E6D5027C5897DC54E2BB07E7647B" xlink:type="arc" />
    <link:label id="lab_clns_SECScheduleIIIRealEstateGrossHeldforSaleNet_8C5DB695D538DE19BFB3E2BB07E8D55E_negatedTerseLabel_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateGrossHeldforSaleNet_8C5DB695D538DE19BFB3E2BB07E8D55E" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Classified as held for sale, net</link:label>
    <link:label id="lab_clns_SECScheduleIIIRealEstateGrossHeldforSaleNet_8C5DB695D538DE19BFB3E2BB07E8D55E_label_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateGrossHeldforSaleNet_8C5DB695D538DE19BFB3E2BB07E8D55E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Gross, Held for Sale, Net</link:label>
    <link:label id="lab_clns_SECScheduleIIIRealEstateGrossHeldforSaleNet_8C5DB695D538DE19BFB3E2BB07E8D55E_documentation_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateGrossHeldforSaleNet_8C5DB695D538DE19BFB3E2BB07E8D55E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Gross, Held for Sale, Net</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_SECScheduleIIIRealEstateGrossHeldforSaleNet" xlink:label="loc_clns_SECScheduleIIIRealEstateGrossHeldforSaleNet_8C5DB695D538DE19BFB3E2BB07E8D55E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_SECScheduleIIIRealEstateGrossHeldforSaleNet_8C5DB695D538DE19BFB3E2BB07E8D55E" xlink:to="lab_clns_SECScheduleIIIRealEstateGrossHeldforSaleNet_8C5DB695D538DE19BFB3E2BB07E8D55E" xlink:type="arc" />
    <link:label id="lab_clns_SECScheduleIIIRealEstateHeldforInvestment_B3030A01E080989947B9E2BB07E8BF2B_totalLabel_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateHeldforInvestment_B3030A01E080989947B9E2BB07E8BF2B" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Balance at December 31, before reclassification to held for sale</link:label>
    <link:label id="lab_clns_SECScheduleIIIRealEstateHeldforInvestment_B3030A01E080989947B9E2BB07E8BF2B_label_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateHeldforInvestment_B3030A01E080989947B9E2BB07E8BF2B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Held for Investment</link:label>
    <link:label id="lab_clns_SECScheduleIIIRealEstateHeldforInvestment_B3030A01E080989947B9E2BB07E8BF2B_documentation_en-US" xlink:label="lab_clns_SECScheduleIIIRealEstateHeldforInvestment_B3030A01E080989947B9E2BB07E8BF2B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule III, Real Estate, Held for Investment</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_SECScheduleIIIRealEstateHeldforInvestment" xlink:label="loc_clns_SECScheduleIIIRealEstateHeldforInvestment_B3030A01E080989947B9E2BB07E8BF2B" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OtherAssetsAbstract_B9C47A5663C938C0F195E1D3F97CDED0_label_en-US" xlink:label="lab_us-gaap_OtherAssetsAbstract_B9C47A5663C938C0F195E1D3F97CDED0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherAssetsAbstract" xlink:label="loc_us-gaap_OtherAssetsAbstract_B9C47A5663C938C0F195E1D3F97CDED0" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable_06D620384C00AE2DFE8BE1D3F97D459C_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable_06D620384C00AE2DFE8BE1D3F97D459C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Acquired Finite-Lived Intangible Asset by Major Class [Table]</link:label>
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    <link:label id="lab_clns_AmortizationofAboveMarketGroundLeaseObligations_EBD2D209F1B550099350E1D3F96A878C_negatedTerseLabel_en-US" xlink:label="lab_clns_AmortizationofAboveMarketGroundLeaseObligations_EBD2D209F1B550099350E1D3F96A878C" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Above-market ground lease obligations</link:label>
    <link:label id="lab_clns_AmortizationofAboveMarketGroundLeaseObligations_EBD2D209F1B550099350E1D3F96A878C_label_en-US" xlink:label="lab_clns_AmortizationofAboveMarketGroundLeaseObligations_EBD2D209F1B550099350E1D3F96A878C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Above-Market Ground Lease Obligations</link:label>
    <link:label id="lab_clns_AmortizationofAboveMarketGroundLeaseObligations_EBD2D209F1B550099350E1D3F96A878C_documentation_en-US" xlink:label="lab_clns_AmortizationofAboveMarketGroundLeaseObligations_EBD2D209F1B550099350E1D3F96A878C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amortization of Above-Market Ground Lease Obligations</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_AmortizationofAboveMarketGroundLeaseObligations" xlink:label="loc_clns_AmortizationofAboveMarketGroundLeaseObligations_EBD2D209F1B550099350E1D3F96A878C" xlink:type="locator" />
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    <link:label id="lab_clns_AmortizationOfBelowMarketGroundLeaseObligations_79F4F54CD9903A98DCA8E1D3F96AC986_terseLabel_en-US" xlink:label="lab_clns_AmortizationOfBelowMarketGroundLeaseObligations_79F4F54CD9903A98DCA8E1D3F96AC986" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Below-market ground lease obligations</link:label>
    <link:label id="lab_clns_AmortizationOfBelowMarketGroundLeaseObligations_79F4F54CD9903A98DCA8E1D3F96AC986_label_en-US" xlink:label="lab_clns_AmortizationOfBelowMarketGroundLeaseObligations_79F4F54CD9903A98DCA8E1D3F96AC986" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization Of Below Market Ground Lease Obligations</link:label>
    <link:label id="lab_clns_AmortizationOfBelowMarketGroundLeaseObligations_79F4F54CD9903A98DCA8E1D3F96AC986_documentation_en-US" xlink:label="lab_clns_AmortizationOfBelowMarketGroundLeaseObligations_79F4F54CD9903A98DCA8E1D3F96AC986" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amortization Of Below Market Ground Lease Obligations</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_AmortizationOfBelowMarketGroundLeaseObligations" xlink:label="loc_clns_AmortizationOfBelowMarketGroundLeaseObligations_79F4F54CD9903A98DCA8E1D3F96AC986" xlink:type="locator" />
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    <link:label id="lab_clns_AmortizationofAboveandBelowMarketGroundLeaseObligations_E4D2C5AE6D3C85CF78FFE1D3F96B2941_totalLabel_en-US" xlink:label="lab_clns_AmortizationofAboveandBelowMarketGroundLeaseObligations_E4D2C5AE6D3C85CF78FFE1D3F96B2941" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net increase to ground rent expense</link:label>
    <link:label id="lab_clns_AmortizationofAboveandBelowMarketGroundLeaseObligations_E4D2C5AE6D3C85CF78FFE1D3F96B2941_label_en-US" xlink:label="lab_clns_AmortizationofAboveandBelowMarketGroundLeaseObligations_E4D2C5AE6D3C85CF78FFE1D3F96B2941" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Above and Below Market Ground Lease Obligations</link:label>
    <link:label id="lab_clns_AmortizationofAboveandBelowMarketGroundLeaseObligations_E4D2C5AE6D3C85CF78FFE1D3F96B2941_documentation_en-US" xlink:label="lab_clns_AmortizationofAboveandBelowMarketGroundLeaseObligations_E4D2C5AE6D3C85CF78FFE1D3F96B2941" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amortization of Above and Below Market Ground Lease Obligations</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_AmortizationofAboveandBelowMarketGroundLeaseObligations" xlink:label="loc_clns_AmortizationofAboveandBelowMarketGroundLeaseObligations_E4D2C5AE6D3C85CF78FFE1D3F96B2941" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_22D57555033F2F8DAFE0E1D3F96B6EF9_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets_22D57555033F2F8DAFE0E1D3F96B6EF9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization expense</link:label>
    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_22D57555033F2F8DAFE0E1D3F96B6EF9_label_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets_22D57555033F2F8DAFE0E1D3F96B6EF9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Intangible Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets_22D57555033F2F8DAFE0E1D3F96B6EF9" xlink:type="locator" />
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    <link:label id="lab_us-gaap_AssetsAbstract_CDC48841E2B7667D8F6BDD7EFE76E620_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract_CDC48841E2B7667D8F6BDD7EFE76E620" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_us-gaap_AssetsAbstract_CDC48841E2B7667D8F6BDD7EFE76E620_label_en-US" xlink:label="lab_us-gaap_AssetsAbstract_CDC48841E2B7667D8F6BDD7EFE76E620" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract_CDC48841E2B7667D8F6BDD7EFE76E620" xlink:type="locator" />
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    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_9794CE25142B0FB417F9DD7EFE78EA7B_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_9794CE25142B0FB417F9DD7EFE78EA7B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_9794CE25142B0FB417F9DD7EFE78EA7B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_9794CE25142B0FB417F9DD7EFE78EA7B" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_9794CE25142B0FB417F9DD7EFE78EA7B" xlink:type="arc" />
    <link:label id="lab_us-gaap_LoansReceivableNet_93B713D19DCE52D82C24DD7EFE78A74E_terseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableNet_93B713D19DCE52D82C24DD7EFE78A74E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans receivable, net ($45,423 and $0 at fair value, respectively)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansReceivableNet" xlink:label="loc_us-gaap_LoansReceivableNet_93B713D19DCE52D82C24DD7EFE78A74E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansReceivableNet_93B713D19DCE52D82C24DD7EFE78A74E" xlink:to="lab_us-gaap_LoansReceivableNet_93B713D19DCE52D82C24DD7EFE78A74E" xlink:type="arc" />
    <link:label id="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_1B58B6E643A14F382A16DD7EFE78FB52_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_1B58B6E643A14F382A16DD7EFE78FB52" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in unconsolidated ventures ($363,901 and $0 at fair value, respectively)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:label="loc_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_1B58B6E643A14F382A16DD7EFE78FB52" xlink:type="locator" />
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    <link:label id="lab_us-gaap_OtherInvestments_36C41B6011EF2389D2D7DD7EFE780005_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherInvestments_36C41B6011EF2389D2D7DD7EFE780005" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Securities, at fair value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherInvestments" xlink:label="loc_us-gaap_OtherInvestments_36C41B6011EF2389D2D7DD7EFE780005" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherInvestments_36C41B6011EF2389D2D7DD7EFE780005" xlink:to="lab_us-gaap_OtherInvestments_36C41B6011EF2389D2D7DD7EFE780005" xlink:type="arc" />
    <link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_115109157110FFA0702BDD7EFE78F865_terseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_115109157110FFA0702BDD7EFE78F865" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred leasing costs and intangible assets, net</link:label>
    <link:label id="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_115109157110FFA0702BDD7EFE78F865_label_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill_115109157110FFA0702BDD7EFE78F865" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Assets, Net (Excluding Goodwill)</link:label>
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    <link:label id="lab_us-gaap_AssetsHeldForSaleNotPartOfDisposalGroup_B2E2624BF38E0281AA83DD7EFE786E85_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsHeldForSaleNotPartOfDisposalGroup_B2E2624BF38E0281AA83DD7EFE786E85" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets held for sale ($49,498 and $67,033 at fair value, respectively)</link:label>
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    <link:label id="lab_us-gaap_OtherAssets_32675013FF38F4C82077DD7EFE782887_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets_32675013FF38F4C82077DD7EFE782887" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other assets ($10,150 and $36,101 at fair value, respectively)</link:label>
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    <link:label id="lab_us-gaap_DueFromAffiliates_ED76C0D60DD7D9898C02DD7EFE78837F_terseLabel_en-US" xlink:label="lab_us-gaap_DueFromAffiliates_ED76C0D60DD7D9898C02DD7EFE78837F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Due from affiliates</link:label>
    <link:label id="lab_us-gaap_DueFromAffiliates_ED76C0D60DD7D9898C02DD7EFE78837F_label_en-US" xlink:label="lab_us-gaap_DueFromAffiliates_ED76C0D60DD7D9898C02DD7EFE78837F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Due from Affiliates</link:label>
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    <link:label id="lab_us-gaap_LiabilitiesAbstract_684AD4CAAE55BA7CAA9ADD7EFE79A33B_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract_684AD4CAAE55BA7CAA9ADD7EFE79A33B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAbstract_684AD4CAAE55BA7CAA9ADD7EFE79A33B_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract_684AD4CAAE55BA7CAA9ADD7EFE79A33B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="loc_us-gaap_LiabilitiesAbstract_684AD4CAAE55BA7CAA9ADD7EFE79A33B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAbstract_684AD4CAAE55BA7CAA9ADD7EFE79A33B" xlink:to="lab_us-gaap_LiabilitiesAbstract_684AD4CAAE55BA7CAA9ADD7EFE79A33B" xlink:type="arc" />
    <link:label id="lab_us-gaap_LongTermDebt_2A4724E7E8F0443549FEDD7EFE79992D_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt_2A4724E7E8F0443549FEDD7EFE79992D" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Debt, net ($44,542 and $0 at fair value, respectively)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_2A4724E7E8F0443549FEDD7EFE79992D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebt_2A4724E7E8F0443549FEDD7EFE79992D" xlink:to="lab_us-gaap_LongTermDebt_2A4724E7E8F0443549FEDD7EFE79992D" xlink:type="arc" />
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    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_8E9EB8905B0271019F0FDD7EFE79F98C_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_8E9EB8905B0271019F0FDD7EFE79F98C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_8E9EB8905B0271019F0FDD7EFE79F98C" xlink:type="locator" />
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    <link:label id="lab_us-gaap_StockholdersEquityAbstract_FF3252BFF51EC489BD67DD7EFE7A6DE1_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract_FF3252BFF51EC489BD67DD7EFE7A6DE1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Attributable to Parent [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="loc_us-gaap_StockholdersEquityAbstract_FF3252BFF51EC489BD67DD7EFE7A6DE1" xlink:type="locator" />
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    <link:label id="lab_us-gaap_PreferredStockValue_C35B6A058C32385ADAADDD7EFE7A6A09_label_en-US" xlink:label="lab_us-gaap_PreferredStockValue_C35B6A058C32385ADAADDD7EFE7A6A09" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Value, Issued</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="loc_us-gaap_PreferredStockValue_C35B6A058C32385ADAADDD7EFE7A6A09" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentConvertibleThresholdTradingDays" xlink:label="loc_us-gaap_DebtInstrumentConvertibleThresholdTradingDays_866BD21B08080B6254F8DC958FA2C061" xlink:type="locator" />
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    <link:label id="lab_clns_NorthStarHealthcareMember_0AFAF4A3B85572CD0CB3E282901E45A6_terseLabel_en-US" xlink:label="lab_clns_NorthStarHealthcareMember_0AFAF4A3B85572CD0CB3E282901E45A6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">NorthStar Healthcare</link:label>
    <link:label id="lab_clns_NorthStarHealthcareMember_0AFAF4A3B85572CD0CB3E282901E45A6_label_en-US" xlink:label="lab_clns_NorthStarHealthcareMember_0AFAF4A3B85572CD0CB3E282901E45A6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">NorthStar Healthcare [Member]</link:label>
    <link:label id="lab_clns_NorthStarHealthcareMember_0AFAF4A3B85572CD0CB3E282901E45A6_documentation_en-US" xlink:label="lab_clns_NorthStarHealthcareMember_0AFAF4A3B85572CD0CB3E282901E45A6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">NorthStar Healthcare [Member]</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_NorthStarHealthcareMember" xlink:label="loc_clns_NorthStarHealthcareMember_0AFAF4A3B85572CD0CB3E282901E45A6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_NorthStarHealthcareMember_0AFAF4A3B85572CD0CB3E282901E45A6" xlink:to="lab_clns_NorthStarHealthcareMember_0AFAF4A3B85572CD0CB3E282901E45A6" xlink:type="arc" />
    <link:label id="lab_clns_HealthcareStrategicPartnershipMember_B0BD1BBB3A8182121D7EE282902052A5_terseLabel_en-US" xlink:label="lab_clns_HealthcareStrategicPartnershipMember_B0BD1BBB3A8182121D7EE282902052A5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Healthcare Strategic Partnership</link:label>
    <link:label id="lab_clns_HealthcareStrategicPartnershipMember_B0BD1BBB3A8182121D7EE282902052A5_label_en-US" xlink:label="lab_clns_HealthcareStrategicPartnershipMember_B0BD1BBB3A8182121D7EE282902052A5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Healthcare Strategic Partnership [Member]</link:label>
    <link:label id="lab_clns_HealthcareStrategicPartnershipMember_B0BD1BBB3A8182121D7EE282902052A5_documentation_en-US" xlink:label="lab_clns_HealthcareStrategicPartnershipMember_B0BD1BBB3A8182121D7EE282902052A5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Healthcare Strategic Partnership [Member]</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_HealthcareStrategicPartnershipMember" xlink:label="loc_clns_HealthcareStrategicPartnershipMember_B0BD1BBB3A8182121D7EE282902052A5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_HealthcareStrategicPartnershipMember_B0BD1BBB3A8182121D7EE282902052A5" xlink:to="lab_clns_HealthcareStrategicPartnershipMember_B0BD1BBB3A8182121D7EE282902052A5" xlink:type="arc" />
    <link:label id="lab_clns_ManagementandAdvisoryFeesMember_188ECB17D089F356E8BAE282902110C0_terseLabel_en-US" xlink:label="lab_clns_ManagementandAdvisoryFeesMember_188ECB17D089F356E8BAE282902110C0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management and Advisory Fees</link:label>
    <link:label id="lab_clns_ManagementandAdvisoryFeesMember_188ECB17D089F356E8BAE282902110C0_label_en-US" xlink:label="lab_clns_ManagementandAdvisoryFeesMember_188ECB17D089F356E8BAE282902110C0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management and Advisory Fees [Member]</link:label>
    <link:label id="lab_clns_ManagementandAdvisoryFeesMember_188ECB17D089F356E8BAE282902110C0_documentation_en-US" xlink:label="lab_clns_ManagementandAdvisoryFeesMember_188ECB17D089F356E8BAE282902110C0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management and Advisory Fees [Member]</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_ManagementandAdvisoryFeesMember" xlink:label="loc_clns_ManagementandAdvisoryFeesMember_188ECB17D089F356E8BAE282902110C0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_ManagementandAdvisoryFeesMember_188ECB17D089F356E8BAE282902110C0" xlink:to="lab_clns_ManagementandAdvisoryFeesMember_188ECB17D089F356E8BAE282902110C0" xlink:type="arc" />
    <link:label id="lab_clns_DistributionSupportAgreementMember_31828CFC2F7600A0792DE28290213913_terseLabel_en-US" xlink:label="lab_clns_DistributionSupportAgreementMember_31828CFC2F7600A0792DE28290213913" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution Support Agreement</link:label>
    <link:label id="lab_clns_DistributionSupportAgreementMember_31828CFC2F7600A0792DE28290213913_label_en-US" xlink:label="lab_clns_DistributionSupportAgreementMember_31828CFC2F7600A0792DE28290213913" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution Support Agreement [Member]</link:label>
    <link:label id="lab_clns_DistributionSupportAgreementMember_31828CFC2F7600A0792DE28290213913_documentation_en-US" xlink:label="lab_clns_DistributionSupportAgreementMember_31828CFC2F7600A0792DE28290213913" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents activity pursuant the distribution support agreement with the sponsor.  The activity includes the shares issued to satisfy the minimum offering requirement and excludes equity proceeds from the initial capitalization.</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_DistributionSupportAgreementMember" xlink:label="loc_clns_DistributionSupportAgreementMember_31828CFC2F7600A0792DE28290213913" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_DistributionSupportAgreementMember_31828CFC2F7600A0792DE28290213913" xlink:to="lab_clns_DistributionSupportAgreementMember_31828CFC2F7600A0792DE28290213913" xlink:type="arc" />
    <link:label id="lab_clns_CorporateAircraftUseReimbursementMember_08B2D9C2D711C8488122E282902158DD_terseLabel_en-US" xlink:label="lab_clns_CorporateAircraftUseReimbursementMember_08B2D9C2D711C8488122E282902158DD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Corporate Aircraft Use Reimbursement</link:label>
    <link:label id="lab_clns_CorporateAircraftUseReimbursementMember_08B2D9C2D711C8488122E282902158DD_label_en-US" xlink:label="lab_clns_CorporateAircraftUseReimbursementMember_08B2D9C2D711C8488122E282902158DD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Corporate Aircraft Use Reimbursement [Member]</link:label>
    <link:label id="lab_clns_CorporateAircraftUseReimbursementMember_08B2D9C2D711C8488122E282902158DD_documentation_en-US" xlink:label="lab_clns_CorporateAircraftUseReimbursementMember_08B2D9C2D711C8488122E282902158DD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Corporate Aircraft Use Reimbursement</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_CorporateAircraftUseReimbursementMember" xlink:label="loc_clns_CorporateAircraftUseReimbursementMember_08B2D9C2D711C8488122E282902158DD" xlink:type="locator" />
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    <link:label id="lab_clns_DebtInstrumentTermExtensionOption_744E4460DE5544F565E2E28290228875_terseLabel_en-US" xlink:label="lab_clns_DebtInstrumentTermExtensionOption_744E4460DE5544F565E2E28290228875" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extension option, term</link:label>
    <link:label id="lab_clns_DebtInstrumentTermExtensionOption_744E4460DE5544F565E2E28290228875_label_en-US" xlink:label="lab_clns_DebtInstrumentTermExtensionOption_744E4460DE5544F565E2E28290228875" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Term, Extension Option</link:label>
    <link:label id="lab_clns_DebtInstrumentTermExtensionOption_744E4460DE5544F565E2E28290228875_documentation_en-US" xlink:label="lab_clns_DebtInstrumentTermExtensionOption_744E4460DE5544F565E2E28290228875" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Term, Extension Option</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_DebtInstrumentTermExtensionOption" xlink:label="loc_clns_DebtInstrumentTermExtensionOption_744E4460DE5544F565E2E28290228875" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_16760B29E29B1EE7B35CE2829022934A_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_16760B29E29B1EE7B35CE2829022934A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unused borrowing capacity, fee</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_16760B29E29B1EE7B35CE2829022934A_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_16760B29E29B1EE7B35CE2829022934A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Unused Borrowing Capacity, Fee</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentUnusedBorrowingCapacityFee" xlink:label="loc_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_16760B29E29B1EE7B35CE2829022934A" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_BAE5FA66CADFBC1420B8E282902297AB_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_BAE5FA66CADFBC1420B8E282902297AB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outstanding advances</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_BAE5FA66CADFBC1420B8E282902297AB_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_BAE5FA66CADFBC1420B8E282902297AB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Fair Value of Amount Outstanding</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding" xlink:label="loc_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_BAE5FA66CADFBC1420B8E282902297AB" xlink:type="locator" />
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    <link:label id="lab_clns_IncentiveFeePercentage_1650D89D4A0BFE11683FE2829022245D_terseLabel_en-US" xlink:label="lab_clns_IncentiveFeePercentage_1650D89D4A0BFE11683FE2829022245D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Incentive fee percentage</link:label>
    <link:label id="lab_clns_IncentiveFeePercentage_1650D89D4A0BFE11683FE2829022245D_label_en-US" xlink:label="lab_clns_IncentiveFeePercentage_1650D89D4A0BFE11683FE2829022245D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Incentive Fee Percentage</link:label>
    <link:label id="lab_clns_IncentiveFeePercentage_1650D89D4A0BFE11683FE2829022245D_documentation_en-US" xlink:label="lab_clns_IncentiveFeePercentage_1650D89D4A0BFE11683FE2829022245D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Incentive Fee Percentage</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_IncentiveFeePercentage" xlink:label="loc_clns_IncentiveFeePercentage_1650D89D4A0BFE11683FE2829022245D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_IncentiveFeePercentage_1650D89D4A0BFE11683FE2829022245D" xlink:to="lab_clns_IncentiveFeePercentage_1650D89D4A0BFE11683FE2829022245D" xlink:type="arc" />
    <link:label id="lab_clns_PropertyManagementAndSubAdvisoryFees_778843E8D51275D4FEA3E2829022825E_terseLabel_en-US" xlink:label="lab_clns_PropertyManagementAndSubAdvisoryFees_778843E8D51275D4FEA3E2829022825E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property management and sub-advisory fees</link:label>
    <link:label id="lab_clns_PropertyManagementAndSubAdvisoryFees_778843E8D51275D4FEA3E2829022825E_label_en-US" xlink:label="lab_clns_PropertyManagementAndSubAdvisoryFees_778843E8D51275D4FEA3E2829022825E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property Management And Sub Advisory Fees</link:label>
    <link:label id="lab_clns_PropertyManagementAndSubAdvisoryFees_778843E8D51275D4FEA3E2829022825E_documentation_en-US" xlink:label="lab_clns_PropertyManagementAndSubAdvisoryFees_778843E8D51275D4FEA3E2829022825E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Property Management And Sub Advisory Fees</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_PropertyManagementAndSubAdvisoryFees" xlink:label="loc_clns_PropertyManagementAndSubAdvisoryFees_778843E8D51275D4FEA3E2829022825E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_PropertyManagementAndSubAdvisoryFees_778843E8D51275D4FEA3E2829022825E" xlink:to="lab_clns_PropertyManagementAndSubAdvisoryFees_778843E8D51275D4FEA3E2829022825E" xlink:type="arc" />
    <link:label id="lab_clns_RelatedPartyTransactionCommitmenttoInvestasDistributionSupport_2F48F077757A035F736FE28290227442_terseLabel_en-US" xlink:label="lab_clns_RelatedPartyTransactionCommitmenttoInvestasDistributionSupport_2F48F077757A035F736FE28290227442" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitment to invest as distribution support</link:label>
    <link:label id="lab_clns_RelatedPartyTransactionCommitmenttoInvestasDistributionSupport_2F48F077757A035F736FE28290227442_label_en-US" xlink:label="lab_clns_RelatedPartyTransactionCommitmenttoInvestasDistributionSupport_2F48F077757A035F736FE28290227442" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Commitment to Invest as Distribution Support</link:label>
    <link:label id="lab_clns_RelatedPartyTransactionCommitmenttoInvestasDistributionSupport_2F48F077757A035F736FE28290227442_documentation_en-US" xlink:label="lab_clns_RelatedPartyTransactionCommitmenttoInvestasDistributionSupport_2F48F077757A035F736FE28290227442" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Commitment to Invest as Distribution Support</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_RelatedPartyTransactionCommitmenttoInvestasDistributionSupport" xlink:label="loc_clns_RelatedPartyTransactionCommitmenttoInvestasDistributionSupport_2F48F077757A035F736FE28290227442" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_RelatedPartyTransactionCommitmenttoInvestasDistributionSupport_2F48F077757A035F736FE28290227442" xlink:to="lab_clns_RelatedPartyTransactionCommitmenttoInvestasDistributionSupport_2F48F077757A035F736FE28290227442" xlink:type="arc" />
    <link:label id="lab_us-gaap_Investments_7BC34E9A9B25A614A727E2829023087A_terseLabel_en-US" xlink:label="lab_us-gaap_Investments_7BC34E9A9B25A614A727E2829023087A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments</link:label>
    <link:label id="lab_us-gaap_Investments_7BC34E9A9B25A614A727E2829023087A_label_en-US" xlink:label="lab_us-gaap_Investments_7BC34E9A9B25A614A727E2829023087A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_Investments" xlink:label="loc_us-gaap_Investments_7BC34E9A9B25A614A727E2829023087A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Investments_7BC34E9A9B25A614A727E2829023087A" xlink:to="lab_us-gaap_Investments_7BC34E9A9B25A614A727E2829023087A" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockMember_4B63AA848327F696F5409C26AB8BA534_verboseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember_10D71DA2D0DF55B39A38E767CE68F9DE" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Outstanding shares of common stock prior to closing of the Merger</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaap_CommonStockMember_10D71DA2D0DF55B39A38E767CE68F9DE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockMember_10D71DA2D0DF55B39A38E767CE68F9DE" xlink:to="lab_us-gaap_CommonStockMember_10D71DA2D0DF55B39A38E767CE68F9DE" xlink:type="arc" />
    <link:label id="lab_clns_ReplacementEquityBasedAwardsMember_C79AB50AFCA958AFAE699C26AB8BEF8C_terseLabel_en-US" xlink:label="lab_clns_ReplacementEquityBasedAwardsMember_2769499EB6895A7EA81776C63FC71B24" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Replacement equity-based awards attributable to pre-combination services</link:label>
    <link:label id="lab_clns_ReplacementEquityBasedAwardsMember_C79AB50AFCA958AFAE699C26AB8BEF8C_label_en-US" xlink:label="lab_clns_ReplacementEquityBasedAwardsMember_2769499EB6895A7EA81776C63FC71B24" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Replacement Equity-Based Awards [Member]</link:label>
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    <link:label id="lab_clns_ColonyNorthStarInc.Member_8F451D5CF908B1159A149C26AB8BCF82_terseLabel_en-US" xlink:label="lab_clns_ColonyNorthStarInc.Member_2E1CED6ADB0A5688A318E54E5A137788" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Colony NorthStar</link:label>
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    <link:label id="lab_clns_NorthStarRealtyFinanceCorp.Member_C59567AD512702E3F47C9C26AB8B7A63_terseLabel_en-US" xlink:label="lab_clns_NorthStarRealtyFinanceCorp.Member_D15AF1C4ADF45D20B378201BBB16A63C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">NorthStar Realty Finance Corp.</link:label>
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    <link:loc xlink:href="clns-20171231.xsd#clns_NorthStarRealtyFinanceCorp.Member" xlink:label="loc_clns_NorthStarRealtyFinanceCorp.Member_D15AF1C4ADF45D20B378201BBB16A63C" xlink:type="locator" />
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    <link:label id="lab_us-gaap_SeriesAPreferredStockMember_78FA78D2F2425E830FDD9C26AB95DCFC_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesAPreferredStockMember_30E9939833EB5D18ACF7199AB7506999" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series A 8.75%</link:label>
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    <link:label id="lab_us-gaap_SeriesBPreferredStockMember_EEA8ACE77227E244F9069C26AB959806_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesBPreferredStockMember_F7EBF56FD34451A782701B1BB67A4F5D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series B 8.25%</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SeriesBPreferredStockMember" xlink:label="loc_us-gaap_SeriesBPreferredStockMember_F7EBF56FD34451A782701B1BB67A4F5D" xlink:type="locator" />
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    <link:label id="lab_us-gaap_SeriesCPreferredStockMember_2F16F8EF57B0586A25EB9C26AB95F417_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesCPreferredStockMember_F18F814712265C94809EDB8A97588036" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series C 8.875%</link:label>
    <link:label id="lab_us-gaap_SeriesCPreferredStockMember_2F16F8EF57B0586A25EB9C26AB95F417_label_en-US" xlink:label="lab_us-gaap_SeriesCPreferredStockMember_F18F814712265C94809EDB8A97588036" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series C Preferred Stock [Member]</link:label>
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    <link:label id="lab_us-gaap_SeriesDPreferredStockMember_B7115468D9ADE4E39AA89C26AB953EE2_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesDPreferredStockMember_CF4B9E20DC295A7B81820D18369F6B9D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series D 8.50%</link:label>
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    <link:label id="lab_us-gaap_SeriesEPreferredStockMember_7F6A703DCE892CAF4A7F9C26AB958A4F_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesEPreferredStockMember_E62D56136F4B51799F308332AF231EC0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series E 8.75%</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SeriesEPreferredStockMember" xlink:label="loc_us-gaap_SeriesEPreferredStockMember_E62D56136F4B51799F308332AF231EC0" xlink:type="locator" />
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    <link:label id="lab_invest_InvestmentIssuerAxis_2572B449FF9F2B95398A9C26AB95E088_label_en-US" xlink:label="lab_invest_InvestmentIssuerAxis_145C009419315C70A2E96A76075A6E27" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Issuer [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentIssuerAxis" xlink:label="loc_invest_InvestmentIssuerAxis_145C009419315C70A2E96A76075A6E27" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentIssuerDomain" xlink:label="loc_invest_InvestmentIssuerDomain_CC3FBA299CF55470BF0308305664CFC0" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" xlink:label="loc_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_CD32D21143DD525B8C4117731144115B" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable_366DB9BCA697541387886C1528235E4D" xlink:type="locator" />
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    <link:label id="lab_clns_BusinessCombinationEquityInterestInAcquireeCanceledFairValue_0041B022096F7420887B9C26AB955127_negatedTerseLabel_en-US" xlink:label="lab_clns_BusinessCombinationEquityInterestInAcquireeCanceledFairValue_0F14343E39545456AC83A164EE0973E5" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Fair value of NRF stock owned by NSAM</link:label>
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    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_5BFCC4CD991B2E2B24E19C26AB95D943_verboseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding_8B91220C712D560FB49198CBAB1DB857" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Number of Shares Outstanding (in shares)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="loc_us-gaap_PreferredStockSharesOutstanding_8B91220C712D560FB49198CBAB1DB857" xlink:type="locator" />
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    <link:label id="lab_us-gaap_SharePrice_6B40B838FD0B5D33C5389C26AB9538CC_verboseLabel_en-US" xlink:label="lab_us-gaap_SharePrice_2AE6266A07B45DB8B3D7A1738EFCD961" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Price Per Share (in dollars per share)</link:label>
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    <link:label id="lab_us-gaap_InvestmentOwnedBalanceShares_8FA8BFFEAD8299241B999C26AB951E41_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentOwnedBalanceShares_52853931EB155A37AE3237EE76A9FBDC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares of NRF common stock owned by NSAM prior to the Merger (in shares)</link:label>
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    <link:label id="lab_clns_AccretioninExcessofCashReceiptsonPurchasedCreditImpairedLoan_3FD567C54C8B9C0A2CEDE2C38CCF6C5C_negatedLabel_en-US" xlink:label="lab_clns_AccretioninExcessofCashReceiptsonPurchasedCreditImpairedLoan_3FD567C54C8B9C0A2CEDE2C38CCF6C5C" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Accretion in excess of cash receipts on purchased credit-impaired loan</link:label>
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    <link:label id="lab_us-gaap_StraightLineRent_0CDEACF3FAA91CCFC035E2C38CCF95ED_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StraightLineRent_0CDEACF3FAA91CCFC035E2C38CCF95ED" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Straight-line rents</link:label>
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    <link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_BAA390AC7FB66DD2C9B2E2C38CD10485_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_BAA390AC7FB66DD2C9B2E2C38CD10485" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred income tax benefit</link:label>
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    <link:label id="lab_us-gaap_PaymentsToAcquireInterestInJointVenture_5F8FE20B509C5C4EC51CE2C38CD2F965_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireInterestInJointVenture_5F8FE20B509C5C4EC51CE2C38CD2F965" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Contributions to investments in unconsolidated ventures</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquireInterestInJointVenture" xlink:label="loc_us-gaap_PaymentsToAcquireInterestInJointVenture_5F8FE20B509C5C4EC51CE2C38CD2F965" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital_47F6D34FA9D3FA9E8F57E2C38CD37A86_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital_47F6D34FA9D3FA9E8F57E2C38CD37A86" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Return of capital from investments in unconsolidated ventures</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquireLoansHeldForInvestment" xlink:label="loc_us-gaap_PaymentsToAcquireLoansHeldForInvestment_672DF52182F571D38D5CE2C38CD3AA0A" xlink:type="locator" />
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    <link:loc xlink:href="clns-20171231.xsd#clns_DividendsPaidRelatedToMerger" xlink:label="loc_clns_DividendsPaidRelatedToMerger_AC0AFFE52B6722A7DB77E2C38CD3CEC1" xlink:type="locator" />
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    <link:label id="lab_clns_DisbursementsOnOriginatedLoan_B467FFD4F680009A63AEE2C38CD34316_negatedLabel_en-US" xlink:label="lab_clns_DisbursementsOnOriginatedLoan_B467FFD4F680009A63AEE2C38CD34316" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net disbursements on originated loans</link:label>
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    <link:label id="lab_clns_DisbursementsOnOriginatedLoan_B467FFD4F680009A63AEE2C38CD34316_documentation_en-US" xlink:label="lab_clns_DisbursementsOnOriginatedLoan_B467FFD4F680009A63AEE2C38CD34316" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash outflow associated with originating loans held for investment purposes during the period.</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_57E4B29A6F6986BD3660E2C38CD3E20F_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_57E4B29A6F6986BD3660E2C38CD3E20F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repayments of loans receivable</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:label="loc_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_57E4B29A6F6986BD3660E2C38CD3E20F" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ProceedsFromSaleOfLoansReceivable_7193D49564A60742E093E2C38CD3D7D7_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfLoansReceivable_7193D49564A60742E093E2C38CD3D7D7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sales of loans receivable and securities</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfLoansReceivable_7193D49564A60742E093E2C38CD3D7D7_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfLoansReceivable_7193D49564A60742E093E2C38CD3D7D7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale of Loans Receivable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromSaleOfLoansReceivable" xlink:label="loc_us-gaap_ProceedsFromSaleOfLoansReceivable_7193D49564A60742E093E2C38CD3D7D7" xlink:type="locator" />
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    <link:label id="lab_clns_ProceedsfromExcessofAccretiononNonPerformingFinancingReceivable_88D5B801BE87865590B1E2C38CD44696_terseLabel_en-US" xlink:label="lab_clns_ProceedsfromExcessofAccretiononNonPerformingFinancingReceivable_88D5B801BE87865590B1E2C38CD44696" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash receipts in excess of accretion on purchased credit-impaired loans</link:label>
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    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstate_106DB962013C5A396C79E2C38CD41FF8_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstate_106DB962013C5A396C79E2C38CD41FF8" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisition of and additions to real estate, related intangibles and leasing commissions</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstate_106DB962013C5A396C79E2C38CD41FF8_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstate_106DB962013C5A396C79E2C38CD41FF8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Real Estate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquireRealEstate" xlink:label="loc_us-gaap_PaymentsToAcquireRealEstate_106DB962013C5A396C79E2C38CD41FF8" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_293037527267C56093AAE2C38CD40F3B_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_293037527267C56093AAE2C38CD40F3B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sales of real estate, net of debt assumed by buyers</link:label>
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    <link:label id="lab_clns_Proceedsfromsyndicationofinvestmentnetofcashdeconsolidated_2772383DAFF854290106E2C38CD43CA0_label_en-US" xlink:label="lab_clns_Proceedsfromsyndicationofinvestmentnetofcashdeconsolidated_2772383DAFF854290106E2C38CD43CA0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from syndication of investment, net of cash deconsolidated</link:label>
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    <link:label id="lab_us-gaap_PaymentsForDeposits_E6DD3A74EFE26FDDDDD7E2C38CD45F8F_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForDeposits_E6DD3A74EFE26FDDDDD7E2C38CD45F8F" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Investment deposits</link:label>
    <link:label id="lab_us-gaap_PaymentsForDeposits_E6DD3A74EFE26FDDDDD7E2C38CD45F8F_label_en-US" xlink:label="lab_us-gaap_PaymentsForDeposits_E6DD3A74EFE26FDDDDD7E2C38CD45F8F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Deposits</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsForDeposits" xlink:label="loc_us-gaap_PaymentsForDeposits_E6DD3A74EFE26FDDDDD7E2C38CD45F8F" xlink:type="locator" />
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    <link:label id="lab_us-gaap_PaymentsForProceedsFromDerivativeInstrumentInvestingActivities_7B9A52F4B62BB04A16AEE2C38CD4EF47_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromDerivativeInstrumentInvestingActivities_7B9A52F4B62BB04A16AEE2C38CD4EF47" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Net (payments) receipts on settlement of derivative instruments</link:label>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromDerivativeInstrumentInvestingActivities_7B9A52F4B62BB04A16AEE2C38CD4EF47_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromDerivativeInstrumentInvestingActivities_7B9A52F4B62BB04A16AEE2C38CD4EF47" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for (Proceeds from) Derivative Instrument, Investing Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsForProceedsFromDerivativeInstrumentInvestingActivities" xlink:label="loc_us-gaap_PaymentsForProceedsFromDerivativeInstrumentInvestingActivities_7B9A52F4B62BB04A16AEE2C38CD4EF47" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:label="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_CF7DA861B64FF82C7FB6E2C38CD4B5D4" xlink:type="locator" />
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_A91091A28F32DC901D24E2C38CD69499_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_A91091A28F32DC901D24E2C38CD69499" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by (used in) financing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_A91091A28F32DC901D24E2C38CD69499_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_A91091A28F32DC901D24E2C38CD69499" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_A91091A28F32DC901D24E2C38CD69499" xlink:type="locator" />
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    <link:loc xlink:href="clns-20171231.xsd#clns_CashHeldByInvestmentEntities" xlink:label="loc_clns_CashHeldByInvestmentEntities_1DEE54C4D8E08FE4229AE2C38CD6A992" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:label="loc_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_89F7D7FAFC96AAB97359E2C38CD6E486" xlink:type="locator" />
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_873A0DEC1A368F6F5600E2C38CD6D989" xlink:type="locator" />
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    <link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_653747B892671ACFD0E4E2C38CD66BAE_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents_653747B892671ACFD0E4E2C38CD66BAE" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents included in assets held for sale</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_593E29C4F6321A49CB76E2C38CD67C3F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_593E29C4F6321A49CB76E2C38CD67C3F" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_593E29C4F6321A49CB76E2C38CD67C3F" xlink:type="arc" />
    <link:label id="lab_us-gaap_ManagementFeesBaseRevenue_2490F2150B783BCF153EE28290B65909_terseLabel_en-US" xlink:label="lab_us-gaap_ManagementFeesBaseRevenue_2490F2150B783BCF153EE28290B65909" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Base management fees ($165,436, $63,212 and $60,750 from affiliates, respectively)</link:label>
    <link:label id="lab_us-gaap_ManagementFeesBaseRevenue_2490F2150B783BCF153EE28290B65909_label_en-US" xlink:label="lab_us-gaap_ManagementFeesBaseRevenue_2490F2150B783BCF153EE28290B65909" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fees, Base Revenue</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ManagementFeesBaseRevenue" xlink:label="loc_us-gaap_ManagementFeesBaseRevenue_2490F2150B783BCF153EE28290B65909" xlink:type="locator" />
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    <link:label id="lab_clns_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAssumedInPeriodWeightedAverageGrantDateFairValue_7D03C01A5B839A3DF684993CEA2B9E11_terseLabel_en-US" xlink:label="lab_clns_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAssumedInPeriodWeightedAverageGrantDateFairValue_E438887F9DE159DE83D9CB86CFFE7C7E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Awards assumed through the Merger (USD per share)</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_981C07C66AAB74E843E0993CEA2B3D7D_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_18173A49392A58359E8245FD33C2E935" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Nonvested shares at period end (USD per share)</link:label>
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    <link:label id="lab_clns_PropertiesHeldforsaleMember_CA0B6D017F23A97D9EA1E2C38AE0817A_terseLabel_en-US" xlink:label="lab_clns_PropertiesHeldforsaleMember_CA0B6D017F23A97D9EA1E2C38AE0817A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate held for sale</link:label>
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    <link:label id="lab_us-gaap_FinancialGuaranteeMember_550716D9B965DFD34DE5DED69BC26642_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialGuaranteeMember_550716D9B965DFD34DE5DED69BC26642" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Guarantee of franchise obligations</link:label>
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    <link:label id="lab_us-gaap_CatastrophicEventDomain_3FD039E4DC120A39698DDE39B6D5A8E1_label_en-US" xlink:label="lab_us-gaap_CatastrophicEventDomain_3FD039E4DC120A39698DDE39B6D5A8E1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Catastrophic Event [Domain]</link:label>
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    <link:label id="lab_us-gaap_HurricaneMember_D09B7373A66E06B28FCFDE39B6D5D422_terseLabel_en-US" xlink:label="lab_us-gaap_HurricaneMember_D09B7373A66E06B28FCFDE39B6D5D422" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hurricanes</link:label>
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    <link:label id="lab_clns_ThreeBuildingsinFloridaMember_2E1E3F70A8BA129BCA25DECF45CB7490_terseLabel_en-US" xlink:label="lab_clns_ThreeBuildingsinFloridaMember_2E1E3F70A8BA129BCA25DECF45CB7490" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Three buildings in Florida</link:label>
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    <link:label id="lab_clns_PurchaseCommitmentDepositPaid_090E4CB23B1FFCF1464CDE39B6D5087F_terseLabel_en-US" xlink:label="lab_clns_PurchaseCommitmentDepositPaid_090E4CB23B1FFCF1464CDE39B6D5087F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deposit paid</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ImpairedFinancingReceivableRelatedAllowance" xlink:label="loc_us-gaap_ImpairedFinancingReceivableRelatedAllowance_D18384678CA7A26F5270D3B954EB1CDD" xlink:type="locator" />
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    <link:label id="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_37C1F3A05427BD1FAB1CDEF03453980E_terseLabel_en-US" xlink:label="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_37C1F3A05427BD1FAB1CDEF03453980E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares issued</link:label>
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    <link:label id="lab_us-gaap_SaleOfStockConsiderationReceivedOnTransaction_9707F4A53944D824E393DEF034536442_label_en-US" xlink:label="lab_us-gaap_SaleOfStockConsiderationReceivedOnTransaction_9707F4A53944D824E393DEF034536442" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock, Consideration Received on Transaction</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GainLossOnSaleOfPreviouslyUnissuedStockBySubsidiaryOrEquityInvesteeNonoperatingIncome" xlink:label="loc_us-gaap_GainLossOnSaleOfPreviouslyUnissuedStockBySubsidiaryOrEquityInvesteeNonoperatingIncome_B57FC0B53DDF74E25E84DEF034532836" xlink:type="locator" />
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    <link:loc xlink:href="clns-20171231.xsd#clns_EquityMethodInvestmentsSharesAcquired" xlink:label="loc_clns_EquityMethodInvestmentsSharesAcquired_23249C39F9B934FF0190DEF03453FEF5" xlink:type="locator" />
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    <link:label id="lab_clns_ManagementIncentiveFeesRevenueOwnershipWaiverMaximumStockPurchaseEligibilityPercent_FA23BAAACB4343CDF21FDEF034537A5B_terseLabel_en-US" xlink:label="lab_clns_ManagementIncentiveFeesRevenueOwnershipWaiverMaximumStockPurchaseEligibilityPercent_FA23BAAACB4343CDF21FDEF034537A5B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum stock purchase eligibility, percent</link:label>
    <link:label id="lab_clns_ManagementIncentiveFeesRevenueOwnershipWaiverMaximumStockPurchaseEligibilityPercent_FA23BAAACB4343CDF21FDEF034537A5B_label_en-US" xlink:label="lab_clns_ManagementIncentiveFeesRevenueOwnershipWaiverMaximumStockPurchaseEligibilityPercent_FA23BAAACB4343CDF21FDEF034537A5B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Incentive Fees Revenue, Ownership Waiver, Maximum Stock Purchase Eligibility, Percent</link:label>
    <link:label id="lab_clns_ManagementIncentiveFeesRevenueOwnershipWaiverMaximumStockPurchaseEligibilityPercent_FA23BAAACB4343CDF21FDEF034537A5B_documentation_en-US" xlink:label="lab_clns_ManagementIncentiveFeesRevenueOwnershipWaiverMaximumStockPurchaseEligibilityPercent_FA23BAAACB4343CDF21FDEF034537A5B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Incentive Fees Revenue, Ownership Waiver, Maximum Stock Purchase Eligibility, Percent</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_ManagementIncentiveFeesRevenueOwnershipWaiverMaximumStockPurchaseEligibilityPercent" xlink:label="loc_clns_ManagementIncentiveFeesRevenueOwnershipWaiverMaximumStockPurchaseEligibilityPercent_FA23BAAACB4343CDF21FDEF034537A5B" xlink:type="locator" />
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    <link:label id="lab_clns_ManagementIncentiveFeesRevenueSharesOwnedInExcessOfThresholdThresholdPercent_F7207AE6CFA4F267082BDEF03453D732_terseLabel_en-US" xlink:label="lab_clns_ManagementIncentiveFeesRevenueSharesOwnedInExcessOfThresholdThresholdPercent_F7207AE6CFA4F267082BDEF03453D732" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares owned in excess of threshold, threshold percent</link:label>
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    <link:label id="lab_clns_ManagementIncentiveFeesRevenueSharesOwnedInExcessOfThresholdThresholdPercent_F7207AE6CFA4F267082BDEF03453D732_documentation_en-US" xlink:label="lab_clns_ManagementIncentiveFeesRevenueSharesOwnedInExcessOfThresholdThresholdPercent_F7207AE6CFA4F267082BDEF03453D732" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Incentive Fees Revenue, Shares Owned In Excess Of Threshold, Threshold Percent</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_ManagementIncentiveFeesRevenueSharesOwnedInExcessOfThresholdThresholdPercent" xlink:label="loc_clns_ManagementIncentiveFeesRevenueSharesOwnedInExcessOfThresholdThresholdPercent_F7207AE6CFA4F267082BDEF03453D732" xlink:type="locator" />
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    <link:label id="lab_us-gaap_InvestmentOwnedBalanceShares_34C4ECC9FACDAAB80144DEF034534643_verboseLabel_en-US" xlink:label="lab_us-gaap_InvestmentOwnedBalanceShares_34C4ECC9FACDAAB80144DEF034534643" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Equity method investment, shares</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InvestmentOwnedBalanceShares" xlink:label="loc_us-gaap_InvestmentOwnedBalanceShares_34C4ECC9FACDAAB80144DEF034534643" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentOwnedBalanceShares_34C4ECC9FACDAAB80144DEF034534643" xlink:to="lab_us-gaap_InvestmentOwnedBalanceShares_34C4ECC9FACDAAB80144DEF034534643" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates_93C2FFFDD999B38D7EE9DEF034534697_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates_93C2FFFDD999B38D7EE9DEF034534697" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payments to acquire businesses and interest in affiliates</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates_93C2FFFDD999B38D7EE9DEF034534697_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates_93C2FFFDD999B38D7EE9DEF034534697" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Businesses and Interest in Affiliates</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates_93C2FFFDD999B38D7EE9DEF034534697" xlink:type="locator" />
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    <link:label id="lab_us-gaap_ProceedsFromDividendsReceived_AAF424EEEDFDC45E78EEDEF034538549_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromDividendsReceived_AAF424EEEDFDC45E78EEDEF034538549" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from dividends received</link:label>
    <link:label id="lab_us-gaap_ProceedsFromDividendsReceived_AAF424EEEDFDC45E78EEDEF034538549_label_en-US" xlink:label="lab_us-gaap_ProceedsFromDividendsReceived_AAF424EEEDFDC45E78EEDEF034538549" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Dividends Received</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromDividendsReceived" xlink:label="loc_us-gaap_ProceedsFromDividendsReceived_AAF424EEEDFDC45E78EEDEF034538549" xlink:type="locator" />
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    <link:label id="lab_clns_LendingCommitmentsAmount_B215D57681908A9F9300DEF03453FBF2_terseLabel_en-US" xlink:label="lab_clns_LendingCommitmentsAmount_B215D57681908A9F9300DEF03453FBF2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lending commitments</link:label>
    <link:label id="lab_clns_LendingCommitmentsAmount_B215D57681908A9F9300DEF03453FBF2_label_en-US" xlink:label="lab_clns_LendingCommitmentsAmount_B215D57681908A9F9300DEF03453FBF2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lending Commitments, Amount</link:label>
    <link:label id="lab_clns_LendingCommitmentsAmount_B215D57681908A9F9300DEF03453FBF2_documentation_en-US" xlink:label="lab_clns_LendingCommitmentsAmount_B215D57681908A9F9300DEF03453FBF2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lending Commitments, Amount</link:label>
    <link:loc xlink:href="clns-20171231.xsd#clns_LendingCommitmentsAmount" xlink:label="loc_clns_LendingCommitmentsAmount_B215D57681908A9F9300DEF03453FBF2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_clns_LendingCommitmentsAmount_B215D57681908A9F9300DEF03453FBF2" xlink:to="lab_clns_LendingCommitmentsAmount_B215D57681908A9F9300DEF03453FBF2" xlink:type="arc" />
    <link:label id="lab_clns_UnfundedLendingCommitment_AD421121937C46863BF6DEF03453FCDF_terseLabel_en-US" xlink:label="lab_clns_UnfundedLendingCommitment_AD421121937C46863BF6DEF03453FCDF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unfunded lending commitment</link:label>
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    <link:loc xlink:href="clns-20171231.xsd#clns_UnfundedLendingCommitment" xlink:label="loc_clns_UnfundedLendingCommitment_AD421121937C46863BF6DEF03453FCDF" xlink:type="locator" />
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    <link:label id="lab_us-gaap_LongTermPurchaseCommitmentAmount_51C413A1B9C60733607ADEF034533DBA_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermPurchaseCommitmentAmount_51C413A1B9C60733607ADEF034533DBA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term purchase commitment, amount</link:label>
    <link:label id="lab_us-gaap_LongTermPurchaseCommitmentAmount_51C413A1B9C60733607ADEF034533DBA_label_en-US" xlink:label="lab_us-gaap_LongTermPurchaseCommitmentAmount_51C413A1B9C60733607ADEF034533DBA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Purchase Commitment, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongTermPurchaseCommitmentAmount" xlink:label="loc_us-gaap_LongTermPurchaseCommitmentAmount_51C413A1B9C60733607ADEF034533DBA" xlink:type="locator" />
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    <link:label id="lab_clns_RelatedPartyTransactionCommitmenttoInvestasDistributionSupportMaximumNumberOfNewCompanies_068A06FD0C030E9ACA83DEF03453D217_terseLabel_en-US" xlink:label="lab_clns_RelatedPartyTransactionCommitmenttoInvestasDistributionSupportMaximumNumberOfNewCompanies_068A06FD0C030E9ACA83DEF03453D217" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum number of new companies to have distribution support</link:label>
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