New York Life Real Estate Investors originates $170 million mortgage loan secured by Wells Fargo Center Miami, Florida.
New York, December 21, 2018—New York Life Real Estate Investors, on behalf of an institutional client, announced today the financing of Wells Fargo Center, a 752,000 square foot, Class A office tower located in Miami, Florida. The loan has a 10-year term with a fixed interest rate. The borrower is advised by MetLife Investment Management.
“We are pleased to provide the financing on this iconic asset in the Miami CBD,” said Robert Boyd, senior director in New York Life Real Estate Investors’ Southeast Regional Office. “We believe the property’s location in Downtown Miami’s walkable urban core will continue to be an attractive place to do business for years to come.”
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 $51.9 billion in assets under management as of June 30, 2018*, New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.
*Real Estate Investors AUM of $51.9B is gross and includes AUA ($1.6B), and debt ($0.3B) as of 6/30/18. Net AUM for Real Estate Investors is $50.0B as of 6/30/18.