New York Life Real Estate Investors originates mortgage loan secured by The Caroline in Houston, Texas.
New York, December 17, 2020—New York Life Real Estate Investors announced today the financing of The Caroline, a 351 unit, apartment community located in Houston, TX. The three and four story Class A property was completed in 2020 by The Finger Companies and is close to both the NASA Space Center and the Kemah Boardwalk. The recently completed asset has continued to lease-up well, despite what have been very challenging times.
“We are pleased to offer financing once again to the Finger Companies on this nearly stabilized, brand new, beautifully appointed property. With its strong sponsorship and best in class amenities, The Caroline will continue to maintain a prominent position in the market,” 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. 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 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.
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