PITTSBURGH-In the never-ending search for investment capital throughout the industry, McMorgan & Co. is refinancing an existing portfolio for $134.76 million. The fixed-rate financing will be secured through an unnamed life insurance company and will be broken into four tranches covering three-, five-, seven- and 10-year terms.

Filled with a mix of retail, office, industrial and multifamily properties, the portfolio will collateralize the financing. There are 13 assets in the MIREF portfolio spread across Arizona, California, Illinois, Minnesota, Missouri, Oregon and Washington. The portfolio sits at 90% occupancy.

The financing will fund an increased leverage strategy of 30% and will pay down existing debt on a revolving credit line. The rest of the capital will be put towards future acquisitions. HFF’s Mike Tepedino and Trey Morsbach secured the loan for McMorgan, which is a subsidiary of New York Life Investment Management Holdings, LLC.