Dealmaker: New York Life Real Estate Investors Originates $1.3B for Industrial, Multifamily

New York Life Real Estate Investors originated $1.3 billion for industrial and multifamily assets in multiple states.

The firm provided $1.2 billion in mortgage financing to KKR Real Estate Partners Americas for two fully leased industrial portfolios totaling 15.6 million square feet. The portfolios include 20 properties in major logistics markets throughout the U.S. The two fixed-rate loans came with seven and 10-year loan terms, respectively.

Scott Ingham, Senior Director and head of NYLREI’s northeast regional office, said the lender provided a balance sheet execution for the two large, diversified Class A industrial portfolios.

In February, NYLREI originated $55 million in long-term financing for a FedEx distribution center in Stratford, Conn. GFI Partners, Boston, received the financing.

The subject property in the Stratford Executive Park has access to eight million consumers within a 45-minute drive due to its proximity to Interstates 95 and 91. The facility has 36-foot clear heights, motion-sensor LED lighting and parking spaces for 57 trailers.

NYLREI also provided $88.7 million to Nashville-based Carter-Haston for The Edge on The Beltline, a 350-unit Class A apartment community in Atlanta.

Located adjacent to the Atlanta Beltline’s Eastside Trail, The Edge delivered in 2019. The property received a seven-year fixed-rate mortgage.

“The Edge on The Beltline is located in one of the most dynamic urban areas of Atlanta with access to all of the vibrant amenities the Beltline has to offer,” said Randall Hall, Senior Director in New York Life Real Estate Investors’ southeast regional office.

Newmark Director James Maynard and Executive Managing Director Brian Kochan put the transaction together.