New York Life Real Estate Investors originates $95 million mortgage loan secured by Vita in Tysons, Virginia.
New York, November 18, 2020—New York Life Real Estate Investors announced today the financing of Vita, a Class A, 29-story luxury apartment tower located in Tysons, Virginia. Vita was constructed in 2015 and contains 429 units, as well as 13,337 square feet of retail space. The property is adjacent to Tysons Corner Center, one of the nation’s top retail destinations, and has immediate connectivity to the Tysons Corner Metro Station/Silver Line. Vita is also just steps from an elevated outdoor entertainment plaza which offers year-round events, creating a wonderful live-work-play experience. The borrower on the transaction is a joint venture partnership between The Macerich Company and the Alaska Permanent Fund Corporation.
“We are pleased to originate this loan with Macerich and the Alaska Permanent Fund Corporation on such an outstanding asset as Vita.” said Mark Young, Senior Director in New York Life Real Estate Investors’ Northeast Regional Office. “The transaction benefits from first class ownership, an excellent location adjacent to the Tysons Corner Metro Station and Tysons Corner Center Mall, and best in class amenities.”
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 and commercial mortgage backed securities. With over $60.1 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 $60.1B 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