New York Life finances $60.2m loan for New Jersey industrial portfolio

New York Life Real Estate Investors has financed a five-building, 613,726-square-foot industrial portfolio comprised of three warehouses in New Jersey.

The company originated a $60.2 million mortgage loan for the portfolio, which is owned by affiliates of Hartz Mountain Industries.

Located in Secaucus, Linden and Hanover, N.J., 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,” according to Keith Duane, director of New York Life Real Estate Investors’ Northeast regional office.

The properites are let to a diversified group of tenants, according to the firm.