New England Shoppes get New York boost.

New York Life Investment Management LLC, acting as investment manager for New York Life Insurance Company, has recently funded two mortgage loans totaling $150 million that are secured by two New England shopping centers.

The Derby Street Shoppes and The Shoppes at Farmington Valley were recently constructed by WIS Development Associates LLC, an affiliate of S.R. Weiner & Associates, Inc.

W/S Development and its affiliates have constructed and own 8.4 million s/f of retail space in Massachusetts, New Hampshire, Maine and Connecticut.

Located 15 miles southeast of Boston, The Derby Street Shoppes contain more than 435,000 s/f of space and feature a diverse roster of quality retailers, including Crate & Barrel, Ann Taylor, Talbots and Whole Foods. The Shoppes at Farmington Valley, located 14 miles west of Hartford, Conn., comprise over 425,000 s/f of retail space and feature such tenants as Barnes & Noble, Dick's Sporting Goods, Coldwater Creek and Shaw's Supermarket. A Kohl's Department Store anchors both centers.

"We are pleased to provide the financing for these two outstanding centers. S.R. Weiner has an excellent reputation and is considered one of the premier developers in New England."

"These properties will further diversify our real estate mortgage portfolio with respect to both property type and geographic location," said Richard Walsh, managing director of NYLIM real estate group.