OAK BROOK, Ill. (December 19, 2024) – Pine Tree announced today that it closed on a $247 million loan with New York Life Real Estate Investors to finance a six-asset portfolio acquired earlier this year in partnership with a state pension fund.
The portfolio includes six high-quality, market-dominant shopping centers located in Florida, Arizona, Oregon, and Ohio. They are anchored by a strong retailer credit lineup, including 13 TJX concepts, Nordstrom Rack, Ulta Beauty, Target, Dick’s Sporting Goods. Also included are several owned grocery stores including Kroger, The Fresh Market, and New Seasons Market.
“We are extremely excited about this financing package and very grateful to New York Life Real Estate Investors for their incredible execution and help in securing the loan,” said Conor Bossy, Chief Investment Officer at Pine Tree.
The loan was arranged by Bill Barry and Bill Stewart of Draper & Kramer.
