New York Life Real Estate Investors originates $303 million mortgage loan secured by National Industrial Portfolio.
New York, February 23, 2021—New York Life Real Estate Investors, on behalf of an institutional client, announced today the financing of a floating-rate loan secured by an industrial portfolio containing approximately 7.1 million square feet. The loan is secured by 25 distribution warehouse properties in seven markets located in the Midwest, Southwest, Southeast, Northeast, and Western United States.
“We are very pleased with our relationship with the borrower, and enjoyed working with them to provide financing on this geographically diverse, highly functional Class-A industrial portfolio,” said Randall Hall, Senior Director in New York Life Estate Investors’ Southeast Regional Office.
Eastdil Secured arranged the financing on behalf of the institutional investor.
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 $60 billion in assets under management as of September 30, 2020, New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.1
1Real Estate Investors AUM of $60.0B is gross and includes AUA ($1.4B) as of 9/30/2020. Net AUM for Real Estate Investors is $59.4B as of 9/30/2020.
New York Life Insurance Company