Throughout its decades’ long history, New York Life Real Estate Investors has been a dynamic player in the U.S. commercial real estate market and has since become a market leader in providing tailored debt solutions across the capital stack. Historically, our team has a $6 billion annual origination target in commercial mortgage loans, including bridge and construction loans, and continues to deliver innovative and competitive financing solutions to meet each borrower’s unique needs. The platform provides construction and bridge loans to experienced sponsors for well-located, institutional-quality properties. The program also focuses on subordinated debt and co-lending opportunities.
Our “full-service shop” structure means that we have deep resources to originate and manage our debt investments.
Regional Offices
Real estate investing is a local business. The origination professionals in our five regional field offices use their local market expertise to better structure solutions that work best for your needs.
Loan Management
Our loan asset managers value our lending relationships and provide personal attention on all requests and proactive risk management to ensure optimal investment results. We strive to continually enhance our client experience, as evidenced by the development of our interactive Borrower Manager system.
Portfolio Management
Our portfolio managers combine top-down, research-based strategies with bottom-up market knowledge to construct and manage diversified portfolios
that seeks to reduce risk, provide stability, and generate income.
Support Services
Our team of in-house engineers, architects, construction and sustainability specialists, and appraisers provides additional support throughout the investment process. Additionally, our dedicated market research team provides valuable macro and micro level market insights and updates on changing market conditions, providing our team with well-informed investment decisions.
Borrower Manager
A platform to enhance loan servicing in addition to the personalized assistance already provided by dedicated Asset Managers, Accountants, and Loan Officers. This portal empowers you with faster and easier access to your transactional information online. Loan information and related documents are now just a click away over a secure channel, and user management can be extended to your authorized representatives.
For access to Borrower Manager, please email us with your loan number and contact information at Borrower_Manager@nylinvestors.com.
Core/Stabilized Lending Guidelines
Property Types
- Office, Multi-family, Industrial, Retail
- Specialty: Medical Office, Self-Storage, Cold Storage, Life Sciences, Hotels, Mobile Home Parks, Data Centers, Student Housing
- Ground leased land
Rate
- Fixed and floating
Term
- Fixed Rate: 3-30 years
- Floating Rate: up to 7 years
- Bridge/Construction to Permanent: 7 to 30 years
Size
- Typically, $25 million to $300 million for single assets, higher for portfolio transactions
- Will coordinate and structure co-investment arrangements for loans with higher proceeds
Portfolio Financing
- Financing available of $200 million or higher with participants
- Fixed rate loans with a floating rate component allow for partial releases and prepayment flexibility
Parameters
- Loan to Value: Up to 80% for mortgages, higher for credit transactions
- Debt Coverage Ratio: Minimum of 1.30X or greater once stabilized
- Non-recourse except for standard carve outs
Structured Lending Guidelines
Bridge Loans
- Repositioning projects with total capitalization generally > $40MM
- Business plan to be accomplished within 5 years
- LTC 80% or less
- Bridge to permanent loans available
Construction Loans
- Ground up development with total capitalization generally > $75MM
- Construction completion within 3 years
- LTC 75% or less
- Construction to permanent loans available
Subordinated Debt
- B-Note and Mezzanine loans greater than $20MM
- Attachment points from 20-60% LTC/ LTV
- Priced as incremental leverage to a maximum of 85% LTC/LTV
- Short and loan term funding available
- Senior debt can be pre-existing or co-originated
Property Types
Office
- Quality properties
- Well established CBD and suburban locations
- Functional buildings with modern mechanical and life safety systems
- Adequate parking ratios
Industrial
- Single or multi-tenant institutional quality warehouse and distribution buildings
- Locations in primary industrial markets with access to distribution systems
- Functional buildings and site design with up-to-date building and mechanical systems
- Modern truck accommodations, such as parking ratios, truck courts, and turning radii
- Large, cross-collateralized pools are a specialty
Multi-Family
- Well-located properties in established apartment markets near employment centers
- Functional site and floor plans/unit design and features
- High quality amenities (i.e., leasing office, club house, pools, spas, and recreational facilities)
- Adequate covered and surface parking for tenants
- Stabilized or in lease-up
Retail
- High-quality neighborhood, community shopping centers, and dominant regional malls
- Strong retail trade areas with good demographic characteristics and high traffic counts
- Appropriate mix of credit/major tenants
- Appropriate ratio of anchor/local shop space
- Strong historic tenant sales performance with viable occupancy costs
- Adequate parking ratios and convenient ingress and egress
Ground-Leased Land
- Improved, infill locations
- Location and improvements must have intrinsic, long-term value
- Capital available for acquisition or financing
- Location and improvements must have long-term value
- Loan terms of 10 to 30 years or more
- Loan payments can be stepped to maximize proceeds for a ground lease that steps
Credit Lease Transactions
- Strong tenants with long-term triple net (NNN) leases
- Self-amortizing or longer amortization schedules as warranted
- LTV as high as 90%
- DCR as low as 1.01x
Recent Representative Loan Transactions¹
One Paseo
San Diego, CA
Mixed
$375M First Mortgage
11-yr Fixed Rate
The Wildwood
Richmond, TX
Multifamily
$36M First Mortgage
7-yr Fixed Rate
Midtown West
Tampa, FL
Office
$45M First Mortgage
5-yr Fixed Rate
Metroplex
Plymouth Meeting, PA
Retail
$76M First Mortgage
10-yr Fixed Rate
95 Distribution Center
Fredericksburg, VA
Industrial
$51M First Mortgage
10-yr Fixed Rate
Bridge Park B-Block
Dublin, OH
Mixed
$55.1M First Mortgage
3-yr Floating Rate
Interested in Investing with Us?
We offer a variety of investment vehicles for investors to take advantage of our investment capabilities and opportunities.
*The representavie transactions are not based on performance but rather were selected to demonstrate diversity by loan type and geography.
There are risks associated with investments in real estate and/or real estate related products. For further information regarding these risks, please contact one of our real estate professionals.
There is no guarantee that investment objectives will be achieved.
Investment objectives may not be met as the underlying investment options are subject to market risk and fluctuate in value. Please keep in mind that there are fees and expenses associated with investing in managed accounts. Accordingly, you can lose money investing in a separately managed account.