{"id":1004134087,"date":"2015-12-22T07:07:41","date_gmt":"2015-12-22T15:07:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004134087"},"modified":"2022-12-08T19:42:36","modified_gmt":"2022-12-09T03:42:36","slug":"ny-life-real-estate-investors-busy-on-both-coasts","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ny-life-real-estate-investors-busy-on-both-coasts\/","title":{"rendered":"NY Life Real Estate Investors Busy on Both Coasts"},"content":{"rendered":"<p>By Gail Kalinoski, Contributing Editor<\/p>\n<div id=\"attachment_1004134088\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/MarshallSprings_Va.png\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004134088\" data-attachment-id=\"1004134088\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ny-life-real-estate-investors-busy-on-both-coasts\/marshallsprings_va\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/MarshallSprings_Va.png\" data-orig-size=\"714,477\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"MarshallSprings_Va\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Marshall Springs at Gayton West&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/MarshallSprings_Va.png?w=714\" loading=\"lazy\" class=\"size-medium wp-image-1004134088\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/MarshallSprings_Va.png\" alt=\"Marshall Springs at Gayton West\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/MarshallSprings_Va.png 714w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/MarshallSprings_Va.png?resize=300,200 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004134088\" class=\"wp-caption-text\">Marshall Springs at Gayton West<\/p><\/div>\n<p>New York Life Real Estate Investors showed off two sides of its commercial real estate expertise on the same day, announcing the acquisition of a California warehouse and the origination of a $52 million mortgage for a Virginia multifamily complex.<\/p>\n<p>Based in New York City, New York Life Real Estate Investors is a full-service real estate enterprise and a division of NYL Investors L.L.C., a wholly-owned subsidiary of New York Life Insurance Co. The division, which has over $45 billion in assets, also originates, underwrites and invests in real estate equity products and related debt, including real estate equity investments, commercial mortgage loans, commercial mortgage-backed securities and unsecured REIT bonds.<\/p>\n<p>On Monday, New York Life Real Estate Investors said it had closed on the acquisition of a new 609,888-square-foot industrial warehouse facility at 2415 North Locust, in Rialto, Calif. The price of the acquisition was not made public. It is located in Southern California\u2019s Inland Empire, which is one of the best performing industrial markets in the United States.<\/p>\n<p>CapRock Partners, which developed the building, will manage the property. Headquartered in Irvine, Calif., CapRock is a private commercial real estate investment firm focused on investing in value-add industrial assets throughout California and developing Class A industrial buildings in Southern California.<\/p>\n<p>\u201cThis project is well positioned to take advantage of the increasing demand from companies seeking high quality warehouses and logistics space in one of the best locations within the Inland Empire market,\u201d Jon Pharris, president of CapRock Partners, said in a prepared statement.<\/p>\n<p>Chris Hunt, senior director at New York Life Real Estate Investors, said the property was a great addition to the Madison Core Property Fund\u2019s real estate portfolio. He added that the acquisition\u00a0 \u00a0\u201cprovides us with an excellent opportunity to invest in a brand new, premium quality asset in this top tier industrial submarket.\u201d<\/p>\n<p>On the East Coast, New York Life Real Estate Investors announced the financing, on behalf of institutional investors, of Marshall Springs at Gayton West, a 420-unit, Class A residential property in Glen Allen, Va., a Richmond suburb. The $52 million loan has a 10-year term with three years of interest-only payments. Geoff McVeigh of Berkadia acted as mortgage broker on the transaction.<\/p>\n<p>\u201cWe are pleased to finance a high quality property like Marshall Springs at Gayton West and to work with The Breeden Company as the developer and Berkadia as the mortgage brokers,\u201d Randall Hunt, senior director at New York Life Real Estate Investors, said in a prepared statement.<\/p>\n<p>In another recent deal, the firm teamed with TIAA-CREF Global Real Estate in November to provide a joint venture between Oxford Properties Group and a group of institutional investors advised by J.P. Morgan Asset Management with <a href=\"https:\/\/www.commercialsearch.com\/news\/1-3b-in%20financing-for-biggest-office-deal-in-beantown\/\" target=\"_blank\" rel=\"noopener\">$648 million in financing<\/a> to acquire 500 Boylston and 222 Berkeley Streets, two Boston office towers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York Life Real Estate Investors showed off two sides of its expertise on the same day, with an acquisition in California and the origination of a mortgage for a Virginia complex.<\/p>\n","protected":false},"author":1068,"featured_media":1004134088,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,21808,21825,21748,23891,21742],"tags":[],"class_list":["post-1004134087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-real-estate","category-featured","category-finance","category-industrial","category-national","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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