News: Financial Digest
Posted: November 11, 2016
New York Life Real Estate Investors completes $37.05 million financing
Boston, MA New York Life Real Estate Investors completed the acquisition financing, on behalf of institutional investors, of a four-building industrial portfolio located in the Greater Boston area. The portfolio, which is 95% leased to a diversified tenant base, contains assets in Franklin, Peabody, Wilmington and Avon. The $37.05 million floating rate loan has a term of five years.
“This portfolio contains assets located in four distinct and well-established submarkets with high barriers to entry,” said David Li, senior director at New York Life Real Estate Investors. “We are pleased to add these highly functional warehouse and distribution facilities to our commercial mortgage portfolio.”
New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly-owned subsidiary of New York Life Insurance Company.
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 $46.3 billion in assets under management as of June 30, 2016, New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.
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