New York Life Real Estate Investors originates $71.6 million mortgage loan secured by Katy 90 Fulfillment Center in Brookshire, Texas.
New York, December 23, 2020—New York Life Real Estate Investors announced today the financing of the Katy 90 Fulfillment Center, a 1,016,000 square foot, industrial property located in Brookshire, TX. The property was developed in 2018 as a build-to-suit and serves as an important regional distribution hub for West Houston residents given the explosive growth in the area. The transaction is a five-year, fixed-rate senior mortgage loan to an investment partnership managed by the Mirabaud Group, an international banking group based in Geneva, Switzerland.
“We are pleased to provide our first acquisition financing to Mirabaud Group for an exceptionally well-located industrial warehouse in a solid, suburban submarket of Houston. Katy 90 Fulfillment Center is a best-in-class product in a core industrial location that is on a long-term lease to a highly desirable tenant in the world and will serve as a critical location for the tenant’s regional operations,” said Scott Portnoy, Senior Director of New York Life Real 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. For more information, please visit the New York Life Real Estate Investors website: 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.
New York Life Insurance Company