New York Life Loans $65M For New Jersey Warehouse

Law360 (September 17, 2020, 2:53 PM EDT) -- A New York Life Insurance real estate arm has loaned $65 million to Seagis Property Group for a newly built warehouse in New Jersey, according to an announcement from New York Life on Thursday.

The loan from New York Life Real Estate Investors is for 50 Central Ave., a 415,533-square-foot warehouse in Kearny, New Jersey. The property is fully leased and has 88 overhead doors, according to New York Life, which did not disclose the terms of the loan.

The warehouse has 40-foot ceilings and is close to Newark Airport and the Port of Newark.

"We are pleased to originate this...

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