Organizational structure.

With over 100 years in business, New York Life Real Estate Investors1 is the real estate debt and equity investment arm of NYL Investors LLC, which is a wholly-owned subsidiary of New York Life Insurance Company.

NYL Investors has primary responsibility for managing the fixed income assets of its parent company New York Life Insurance Company as well as third party assets in select classes including real estate. NYL Investors, including certain affiliates, had approximately $238 billion in assets under management2 as of December 31, 2017 of which over $49 billion is managed by Real Estate Investors.

Our parent company, New York Life, was founded in 1845 and is a Fortune 100 company.3 It is one of the largest mutual life insurance companies in the United States, holding the highest ratings for financial strength currently awarded to any U.S. life insurer.4

Below is a snapshot of our organizational structure.

1 Prior to the formation of NYL Investors, Real Estate Investors operated as an investment division of New York Life Investment Management, LLC which is an affiliated investment adviser.
2 Assets under management represent the combined fixed income assets of New York Life Investment Management LLC & NYL Investments.
3 Fortune Magazine June 2017.
4 Source: Individual independent rating agency commentary as of June and July 2017.