New York Life Unit Loans $48M For 5 Virginia Buildings

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

The New York Life Real Estate Investors loan concerns buildings at Beaumeade Corporate Par in Ashburn, Virginia. The Class A properties have a total area of around 400,000 square feet and are 99% let, according to New York Life. In its announcement on Friday, the lender did not provide any information about the term of the loan or the interest rate.

“Beaumeade Corporate Park is an excellent, well-rented …

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