New York Life Puts Up $450M Loan For Blackstone Portfolio

Law360 (September 13, 2019, 4:50 PM EDT) -- New York Life Real Estate Investors said Friday it has provided a $450 million mortgage loan to Blackstone Group for the financing of a 47-property industrial portfolio that spans various U.S. markets.

The real estate firm said it secured the loan on behalf of Blackstone, providing a fixed-rate loan with a term of seven years. The 47-property portfolio is composed of 68 buildings across the U.S., totaling 5.4 million square feet.

"The portfolio offers significant scale with buildings that are considered infill and highly functional," Steve Kirk, senior director of New York Life's western regional office, said in a statement. "There is...

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