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NY Life Unit Loans $123M For Austin Mixed-Use Project

Law360 (March 6, 2019, 6:21 PM EST) -- A New York Life Insurance Co. real estate unit has loaned $122.94 million in construction financing for an office and retail project in Austin, Texas, New York Life announced Wednesday.

The floating-rate loan from New York Life Real Estate Investors is for River South, a 350,000-square-foot project. The loan is for five years and comes with the option to extend for a sixth year.

Stream Realty is listed on the property's website as the office and retail leasing contact, and New York Life in its announcement mentioned Stream Realty and QuadReal Property Group as now having "lending relationships" with the company....

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