New York Life Loans $500M For Industrial Real Estate

Law360 (September 16, 2020, 5:57 PM EDT) -- A New York Life real estate lending arm said Wednesday it's provided $500 million in financing to support an industrial real estate portfolio totaling 7.9 million square feet that's spread across the United States.

New York Life Real Estate Investors said in a short statement that the loan is secured by the properties. The unit did not disclose the identity of the borrower, but said the portfolio is managed by Stockbridge Capital Group.

"We are pleased to be able to finance this high-quality, well-diversified portfolio of industrial properties with superior sponsorship," Stephen Kirk, senior director of New York Life Real Estate...

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