Press Release October 25, 2017

New York Life Real Estate Investors Forms Joint Venture with Ilmarinen Mutual Pension Insurance Company

Goodwin’s Real Estate team advised New York Life Real Estate Investors as it entered into a joint venture with Ilmarinen Mutual Pension Insurance Company, Finland’s oldest pension fund, targeting core and core-plus office investments in major U.S. markets. New York Life seeded the venture with a portfolio of initial investments, all of which are in primary markets including Boston, Washington D.C., Los Angeles, San Francisco, Orange County and Charlotte. New York Life sold a 49% interest to Ilmarinen and will retain a 51% interest in the venture, which will continue to acquire additional office properties with the goal of building a $1.2 billion portfolio. New York Life Real Estate Investors will manage the joint venture.

New York Life Real Estate Investors 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.

The Goodwin team was led by partner Christopher Price and included partners Dean Pappas and Karen Turk; counsel Lauren LebiodaSonita Bennitt; of counsel Ed Glazer; and associates Jacki Bostel and Sanya Gandhi.

For additional details on the joint venture, please read the press release.