New York Life Real Estate Investors Originates $32,250,000 Mortgage Loan Secured by Alta Brookhaven Apartments, Brookhaven, Georgia
New York, September 9, 2015—New York Life Real Estate Investors announced today the financing, on behalf of institutional investors, of Alta Brookhaven Apartments, a 230 unit, Class A multi-family property located within the Atlanta metropolitan statistical area in the town of Brookhaven, Georgia. The $32,250,000 mortgage loan has a term of ten years with full term interest only.
“New York Life Real Estate Investors is pleased to once again provide acquisition financing on a high quality multi-family asset for AVR Realty Company,” said Robert Boyd, senior director of New York Life Real Estate Investors in the Atlanta office. “We believe this is an excellent location in an infill neighborhood only a short walk from a MARTA rail station.”
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, commercial mortgage backed securities, and unsecured REIT bonds. With over $42 billion in assets under management as of June 30, 2015, New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.
About New York Life
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).** Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments*** provides institutional asset management. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit New York Life’s website at www.newyorklife.com for more information.
*Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/15/15. For methodology, please see http://fortune.com/fortune500/.
**Individual independent rating agency commentary as of 8/11/15.
***New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.
About AVR Realty Company
AVR Realty Company is based in Yonkers, New York and has been in business for over 45 years. AVR has built, acquired and developed over 30 million square feet of commercial and residential space. AVR’s portfolio includes office buildings, shopping centers, corporate and industrial properties, apartment complexes, residential communities and hotels.
New York Life Insurance Company