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NY Life RE Investors Lines Up Big Portfolio Financing

12386 Crossroads Dr One of the portfolio’s properties, Crossroads D, is at 12386 Crossroads Dr. in Olive Branch, MS.

NEW YORK CITY—New York Life Real Estate Investors has announced the financing, on behalf of institutional investors, of $475 million in mortgage and mezzanine debt secured by the IDI Gazeley national industrial portfolio.

The 9.5-million-square-foot, Class A portfolio is comprised of 28 properties in 10 MSAs across 11 states.

The loans feature floating rates over LIBOR and have an initial term of four years with extension options. The sponsor for the financing is IDI Gazeley, a leading investor and developer of logistics warehouses.

“We are pleased to continue our lending relationship with IDI Gazeley with this high quality warehouse portfolio,” says Rob Boyd, senior director of New York Life Real Estate Investors’  Southeast regional office.

 

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