New York Life Real Estate Investors Acquired Canyon Commons Corporate Plaza.
NEW YORK, February 5, 2014—New York Life Real Estate Investors announced today the acquisition, on behalf of institutional investors, of Canyon Commons Corporate Plaza, a 79,147 square foot office project located in San Ramon, California.
Canyon Commons is a four story brick clad office building located just off Interstate 680. The building was built in 1983 and has approximately 20,000 square foot easily divisible floor plates which cater to smaller identity conscious tenants. Canyon Commons has recently undergone renovations to its common area lobbies and corridors and is 93% leased to 18 tenants.
About New York Life Real Estate Investors
New York Life Real Estate Investors is a division of New York Life Investments* and NYL Investors, LLC, wholly-owned subsidiaries of New York Life Insurance Company.
New York Life Real Estate Investors is a full service, fully integrated real estate enterprise with more than 100 professionals. New York Life Real Estate Investors 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, commercial mortgage backed securities and unsecured REIT bonds. As of September 30, 2013, New York Life Real Estate Investors manages $35.5 billion in AUM and is actively seeking to acquire additional properties throughout the U.S.
About New York Life
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States** and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).*** Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments provides institutional asset management and retirement plan services.
Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit New York Life’s website at www.newyorklife.com for more information.
*New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary New York Life Investment Management LLC. New York Life Investment Management LLC is a wholly-owned indirect subsidiary of New York Life Insurance Company.
**Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, May 20, 2013. See http://money.cnn.com/magazines/fortune/fortune500/2013/faq/?iid=F500_sp_method%20 for methodology.
***Source: Individual Third Party Ratings Reports as of 2/3/14.
For New York Life