Mortgage Arranged for Pearl City Gateway

HONOLULU, HI— New York Life Real Estate Investors has arranged financing, on behalf of institutional investors, of Pearl City Gateway, a 146,000 square foot, class A retail property located in Honolulu. The $59 million mortgage loan has a 10-year term.

Hawaii

“New York Life Real Estate Investors is pleased to provide financing on such a high quality retail asset and to start a lending relationship with Robertson Properties Group,” said Kirk Kniss, New York Life Real Estate Investors senior director and head of the San Francisco Regional Office. “We believe this loan will help to further diversify the geographic profile of our portfolio.” KeyBank Real Estate Capital acted as the mortgage broker on the transaction. New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly-owned subsidiary of New York Life Insurance Company.  It is a full-service, fully-integrated real estate enterprise with more than 100 professionals. The division has market-leading capabilities in origination, underwriting, and investment in real estate equity products and related debt, including real estate equity investments, commercial mortgage loans, commercial mortgage backed securities, and unsecured REIT bonds. Robertson Properties Group (RPG) is a leading Los Angeles-based real estate developer, investor, and property manager. Founded in 1992, the company focuses primarily on the development and management of retail and commercial projects in California, Hawaii, and the Pacific Northwest.