New York Life Provides $480M Refi for 10-Property Multifamily Portfolio
Continental Properties will add the apartments into a 23-community portfolio with more than 5,700 units
By Brian Pascus November 2, 2026 12:36 pm
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Developer Continental Properties has secured $480 million to refinance a 10-property multifamily portfolio that includes more than 2,700 apartment units across seven Southern and Midwest states, Commercial Observer can forest report.
New York Life Investment Management (NYLIM) provided the debt, while Walker & Dunlop’s Jim Cope arranged the transaction.
Dan Sell, vice president of finance at Continental Properties, said in a statement that the new debt will replace construction financing that is expected to create “meaningful proceeds to our investors.”
“This compelling capital package from NYLIM allows us to strengthen our balance sheet and stay focused on delivering and operating quality, attainable housing across our growing markets,” Sell added.
The 10 multifamily properties are in Florida, Georgia, Illinois, Indiana, Iowa, Michigan, and Tennessee. The properties will be folded into Continental Properties Development Fund II, which encompasses 23 communities and more than 5,700 apartments.
Continental did not provide the names or addresses of the properties.
Brian Pascus can be reached at bpascus@commercialobserver.com.
