Operations of a New York Life division is moving from offices at San Jacinto Center, 98 San Jacinto Blvd., in Austin's CBD, to 21,431 sf at the Reserve, a two-story building at 7501 N. Capital of Texas Highway. The space was vacated by iBooks.com Inc., which tried to sell searchable electronic books. The company had been funded with more than $30 million from venture firms including Austin Ventures, TL Ventures and Dell Computer Corp. The company was unable to get customers and cut 77 of 110 jobs in late January, followed by more cuts in February before closing down.

New York Life Long Term Care Division is a wholly owned division of New York Life Insurance Co. It has administrative and call center functions. Robert Merrill of Trammell Crow Co.'s Austin office has represented iBooks.com and Jamil Alam, also of Trammell Crow, acted on behalf of New York Life.