New York Life Real Estate Investors originates $100.6 million mortgage loan secured by Warren Corporate Center, 100 & 200 Warren, New Jersey.
New York, June 15, 2021—New York Life Real Estate Investors announced today the financing of Warren Corporate Center 100 & 200, two four-story office buildings located in a premier 176 acre office campus with state-of-the-art amenities in Warren, New Jersey. The Class A buildings underwent extensive renovations and are leased long-term to a desirable tenant. The transaction is a five-year, fixed rate, mortgage loan to an investment partnership managed by the Mirabaud Group, an international banking group based in Geneva, Switzerland that was represented by Exan Capital based in Miami, Florida.
“We are pleased to continue our lending relationship with Mirabaud Group and provide acquisition financing on this high-quality asset located directly off I-78 in Central New Jersey with stable long-term cash flows,” said Senior Director Scott Ingham in New York Life Real Estate Investors’ Northeast Regional Office.
Exan Capital is working with the Mirabaud Group in building a portfolio of single-tenant office and industrial properties leased to investment-grade tenants in core markets throughout the United States.
“With this acquisition we continue with the strategy to provide Class A yielding properties to our investors. The quality of the asset, the length of the lease and the credit of the tenant is the perfect fit for the current portfolio we are building-up with our partners at Mirabaud. We will continue with our aggressive plan of acquisitions during the upcoming months,” added John Lippmann, Head of Structured Debt at New York Life Real Estate said Ignacio Gil-Casares, Partner at Exan Capital.
About Exan Capital
Exan Capital is an independent real estate fund manager with asset management services, primarily active in United States gateway markets and select European cities. The group was founded in 2013 and currently has its headquarters in Miami, Florida, with a regional office in Madrid, Spain.
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.
New York Life Insurance Company