New York Life Real Estate Investors Originates $207.8 Million Mortgage Loan Secured By 100 High Street in Boston, Massachusetts
NEW YORK, May 10, 2017 – New York Life Real Estate Investors announced today the financing of 100 High Street, a 546,300 square foot, Class A office property located in Boston, Massachusetts. The 10 year $207.8 million loan was made to an affiliate of the Rockpoint Group, LLC.
“100 High Street is a modern Class A office building located at the heart of Boston’s Financial District. The property offers its tenants a broad array of amenities, as well as an excellent location within easy walking distance to numerous Boston attractions and transportation options,” said Eric Becher, senior director of New York Life Real Estate Investor’s New York Regional Office. “This financing represents an excellent addition to our commercial mortgage portfolio, and we are pleased to work with Rockpoint providing the financing for this asset”.
About New York Life Real Estate Investors
New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly-owned subsidiary of New York Life Insurance Company. Please visit New York Life Real Estate Investors’ website at http://www.newyorklife.com/realestateinvestors for more information.
New York Life Real Estate Investors is a full service, fully-integrated real estate enterprise with more than 100 professionals. The division has market-leading capabilities in origination, underwriting, and investment in real estate equity products and related debt, including real estate equity investments, commercial mortgage loans, commercial mortgage backed securities, and unsecured REIT bonds. With over $49.9 billion in assets under management as of March 31, 2017, New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.
About New York Life
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).** Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments*** provides institutional asset management. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit New York Life’s website at www.newyorklife.com for more information
Rockpoint Group, L.L.C. is a real estate private equity firm headquartered in Boston, with additional primary offices in Dallas and San Francisco. Since 1994, Rockpoint’s founding Managing Members with others have sponsored thirteen commingled funds and related coinvestment vehicles, raising over $18 billion in capital commitments and investing approximately $14 billion of equity in over 385 transactions with a total capitalization of approximately $51 billion. Rockpoint employs a fundamental value approach to investing in both its opportunistic and lower-risk strategies and focuses on select product types and geographic regions, with a primary emphasis on opportunities in major coastal markets in the United States.
*Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/17/16. For methodology, please see http://fortune.com/fortune500/
**Individual independent rating agency commentary as of 8/9/16.
***New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.
New York Life Insurance Company