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MetLife, Inc.
announced today that it originated, through its real
estate investments department, over $9.6 billion in commercial mortgage loans
in 2012. MetLife continues to be the largest portfolio lender in the insurance
industry with $43.1 billion in commercial mortgages outstanding at year end
2012.
MetLife participated in a number of high-quality commercial mortgage
transactions with loan sizes of $175 million and above during 2012. Some
noteworthy transactions included:
* $362 million loan on Waterside Plaza, a 1,471-unit apartment complex built
over the East River in Manhattan;
* $264 million loan on Broadgate West, a Class A, top quality office complex
in London;
* $258 million loan on The Westin in Times Square, a hotel located in
Manhattan;
* $253 million loan on 101 California, a Class A, top quality office tower
located in San Francisco;
* $200 million loan on a portfolio of retail properties in the U.K.; and
* $183 million loan collateralized by a portfolio of 39 industrial
properties diversified in 10 Mexican markets.
Within its international portfolio, MetLife successfully grew its commercial
mortgage lending activities in 2012, originating over $1 billion in the U.K.,
$191 million in Mexico and more than 33.6 billion yen for its Japanese local
account.
In October 2012, MetLife reorganized its real estate arm to better manage its
investments and the investments for its institutional investors and launched a
third party asset management business within the real estate investments
department. This enables the company to use its extensive experience in real
estate to create investment opportunities that generate attractive, long-term
returns for institutional investors.
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