Northeast Regional Office

“New York Life and our co-lenders are pleased to provide floating-rate financing on the Modera Portfolio, a geographically diverse portfolio of 6 newly constructed Class A multi-family properties. The portfolio is comprised of the highest quality in multi-family assets, located in major MSAs across the U.S. Each property offers exceptional finishes, amenities, and access. We are also delighted to provide this financing to a sponsorship comprised of two outstanding institutional-quality partners.”
— Eric Becher, Senior Director

• $121.25MM pari passu participation in a $363.75MM first mortgage loan with Morgan Stanley Bank, N.A. and Metropolitan Life Insurance Company as co-lenders
• Floating-rate financing
• Best-in-class assets within their respective markets
• All 6 projects completed and stabilized in 2016
• Pedestrian friendly, highly desirable urban neighborhoods
• Easy access to employment, transportation, retail, and amenities

Source: REI Northeast Regional Office, March 2017.