New York Life Real Estate Investors originates $54 million mortgage loan secured by Nalle Woods of Westlake, Texas.
New York, July 7, 2021—New York Life Real Estate Investors announced today the financing of Nalle Woods of Westlake, a 238 unit, apartment complex located in Austin, Texas. The two and three story Class-A extensively renovated garden style property offers residents top quality interior and common area amenities. The suburban development offers residents a low density, heavily wooded environment in one of the city’s best school districts with convenient access to the Austin CBD.
“We are pleased to initiate a new lending relationship with Morningside Group on this unique, well located and strong performing property. With the experienced hands-on management, continued updating of the property and barriers to entry, we anticipate Nalle Woods to continue to improve its performance in the long run,” said Scott Portnoy, Senior Director in New York Life Estate Investors’ Southwest Regional Office.
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 $61.5 billion in assets under management as of March 31, 2021. New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.1
1Real Estate Investors AUM of $61.5B is gross and includes AUA ($1.2B) as of 3/31/2021. Net AUM for Real Estate Investors is $60.8B as of 3/31/2021.
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