New York Life Real Estate Investors originates $115 million mortgage loan secured by Harper at Harmon Meadow Secaucus, New Jersey.
New York, April 3, 2019—New York Life Real Estate Investors, on behalf of New York Life Insurance Company, announced today the financing of The Harper at Harmon Meadow, a 469 unit Class A apartment community in Secaucus, New Jersey. The newly constructed LEED-certified property located in the master-planned Harmon Meadow mixed-use development provides residents with best in class amenities as well as numerous retail, dining and entertainment opportunities in the immediate surrounding area. The apartment project is owned by an affiliate of Hartz Mountain Industries, Inc.
West End Towers offers a wide array of outstanding amenities, including panoramic river and city views. The property’s location is within a short walk of Lincoln Square making it one of the most desirable neighborhoods in which to live and work.
“We are pleased to work with Hartz Mountain Industries again to provide the financing for this attractive multifamily project,” said Keith Duane, Director in New York Life Real Estate Investors’ Northeast Regional Office. “The property’s location in the mixed-use Harmon Meadow development and the nearby transportation linkages create an outstanding live-work-play environment with excellent accessrdquo;.
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. Please visit New York Life Real Estate Investors’ website at http://www.newyorklife.com/realestateinvestors for more information.
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, commercial mortgage backed securities, and unsecured REIT bonds. With over $53.1 billion in assets under management as of September 30, 2018*, New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.
*Real Estate Investors AUM of $53.1B is gross and includes AUA ($1.6B), and debt ($0.5B) as of 9/30/18. Net AUM for Real Estate Investors is $51.0B as of 9/30/18.
About New York Life
New York Life Insurance Company (www.newyorklife.com), 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. 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 has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies**.
*Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/1/18. For methodology, please see http://fortune.com/fortune500/.
**Individual independent rating agency commentary as of 7/30/18: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+)
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