New York Life Real Estate Investors originates $48 million mortgage loan secured by Beaumeade Corporate Park Ashburn, Virginia.
New York, April 2, 2021—New York Life Real Estate Investors today announced the financing of a portfolio of five Class-A industrial buildings located within the Beaumeade Corporate Park in Ashburn, Loudoun County, Virginia. The portfolio totals approximately 400,000 square feet and is 99% leased to a diverse array of businesses, including government contractors, e-commerce distribution, technology, and business services. The portfolio benefits from its infill location and excellent access to major roadways in the highly desirable Dulles Technology Corridor. The borrower for the transaction is an affiliate of Merritt Properties.
“Beaumeade Corporate Park is an outstanding, well leased industrial portfolio, located in one of the strongest submarkets in the nation,” said Mark Young, Senior Director of New York Life Real Estate Investors’ New York Regional Office. “We are very pleased to originate this loan and continue our long term relationship with Merritt Properties, a premier real estate owner and developer.”
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 $61.3 billion in assets under management as of December 31, 2020, New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.1
1Real Estate Investors AUM of $61.3B is gross and includes AUA ($1.3B) as of 12/31/2020. Net AUM for Real Estate Investors is $60.6B as of 12/31/2020.
New York Life Insurance Company