New York Life Real Estate Investors originates $45.4 million mortgage loan secured by Virginia Highlands Apartment Homes Atlanta, GA.
New York, February 27, 2020—New York Life Real Estate Investors announced today the acquisition financing of Virginia Highlands Apartment Homes, a 270-unit garden apartment property located in Atlanta, GA. The borrower is a joint venture between RangeWater Real Estate and an institutional partner.
“We are pleased to complete our first transaction with RangeWater and to provide acquisition financing on this exceptional asset,” said Ryan Doyle, Director in New York Life Real Estate Investors’ Southeast Regional Office. “We believe this location along the Eastside Trail is unparalleled and will continue to see abundant growth and private investment in the immediate area.”
NorthMarq arranged the sale of Virginia Highlands Apartment Homes through the NorthMarq Atlanta investment sales team. Financing was secured by NorthMarq’s capital markets teams in Dallas and Atlanta.
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 $55.7 billion in assets under management as of September 30, 2019*, New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.
*Real Estate Investors AUM of $55.7B is gross and includes AUA ($1.4B) as of 9/30/19. Net AUM for Real Estate Investors is $54.3B as of 9/30/19.
New York Life Insurance Company