New York Life Real Estate Investors has closed on $185.1 million in financing, on behalf of AvalonBay Communities, Inc. (AVB). The funding is secured against a portfolio of 1,384 units consisting of the Eaves Woodland Hills and Eaves Los Feliz located in Los Angeles, CA., and the Avalon Russet property in Laurel, MD. The 10 year fixed rate financing agreement was brokered by Bellwether Enterprise. “We are pleased to be able to offer a single-lender execution on three well-located infill apartment assets at competitive terms while also structuring the transactions to accommodate the sponsor’s needs. We look forward to continuing our relationship with AvalonBay.” said Kirk Kniss, senior director at New York Life Real Estate Investors’Western Regional Office.
