New York Life Real Estate Investors originates $31.2 million mortgage loan secured by Sapphire at Centerpointe Midlothian, Virginia.
New York, May 20, 2021—New York Life Real Estate Investors announced today the financing of Sapphire at Centerpointe, a 192 unit, multifamily property located in Midlothian, Virginia. The 10-year loan was made to Capital Square Realty Advisors, a national investment sponsor, which specializes in tax-advantaged real estate offerings and includes Delaware statutory trusts, qualified opportunity zone funds and REITs.
“We are excited to lend on this very high quality multifamily asset and grow our relationship with Capital Square Realty Advisors,” said Senior Director Randall Hall in New York Life Estate Investors’ Southeast Regional Office.
Walker & Dunlop arranged financing on behalf of the buyer, national real estate investment sponsor Capital Square.
About New York Life Real Estate Investors
New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly-owned subsidiary of New York Life Insurance Company. For more information, please visit the New York Life Real Estate Investors website: http://www.newyorklife.com/realestateinvestors.
New York Life Real Estate Investors is a full service, fully-integrated real estate enterprise with more than 100 professionals. The division has market-leading capabilities in origination, underwriting, and investment in real estate equity products and related debt, including real estate equity investments, commercial mortgage loans and commercial mortgage backed securities. With over $61.5 billion in assets under management as of March 31, 2021. New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.1
1Real Estate Investors AUM of $61.5B is gross and includes AUA ($1.2B) as of 3/31/2021. Net AUM for Real Estate Investors is $60.8B as of 3/31/2021.
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