By Joshua Burd
Hartz Mountain Industries has landed a $60.2 million loan from New York Life Real Estate Investors for a five-building, 613,726-square-foot industrial portfolio in three municipalities.
The lender, an affiliate of New York Life Insurance Co., announced last week that it provided the financing for the portfolio in Secaucus, Linden and Hanover. In doing so, the company highlighted a diverse tenant roster that is close to large population clusters.
A Hartz affiliate owns the portfolio. New York Life did not include exact addresses.
“New York Life is pleased to originate another loan with Hartz Mountain Industries,” said Keith Duane, director of New York Life Real Estate Investors’ Northeast regional office. “The properties have outstanding access to New Jersey’s well-developed transportation infrastructure and dense population within one of the strongest industrial markets in the country.”