New York Life Loans $ 48 million for 5 buildings in Virginia

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Law360 (April 2, 2021, 3:41 p.m. EDT) – A loan arm of New York Life has provided $ 48 million in financing to a subsidiary of Merritt Properties for five industrial buildings in Virginia, according to a New York Life announcement Friday .

The New York Life Real Estate Investors loan relates to buildings at Beaumeade Corporate Par in Ashburn, Virginia. The Category A properties total approximately 400,000 square feet and are 99% leased, New York Life said. The lender did not provide details on the length of the loan or the interest rate in its announcement on Friday.

“Beaumeade Corporate Park is an exceptional and well-praised establishment …

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