MetLife Originates a Record $15 Billion in Commercial Real Estate Loans in 2016

MetLife and Partners Commit to Approximately $1.4 Billion in Equity Real Estate in 2016

NEW YORK--()--MetLife, Inc. (NYSE:MET) announced today that it originated a record $15 billion globally in commercial real estate loans in 2016, a five percent increase over the approximately $14.3 billion it originated in the previous year.

MetLife continued to be a major investor in real estate in 2016, focusing on a number of key sectors, including commercial mortgages, real estate equity, and investments on behalf of our institutional clients,” said Robert Merck, senior managing director and global head of real estate investments for MetLife. “Following our strategy of investing in major markets with strong fundamentals, MetLife strengthened its position as the leader in commercial mortgage lending, based on annual production volume, both domestically and internationally. We also continued to create attractive opportunities for institutional investors through MetLife Investment Management (“MIM”) and we believe that 2017 will bring even greater expansion and growth for our asset management platform.”

MIM, which just celebrated its fourth year in business, also had a strong year, originating $940 million in commercial real estate equity and mortgage loan investments for institutional clients.

MetLife’s real estate platform includes origination and asset management offices across seven regional offices in the United States, as well as in London, Mexico City, Tokyo and Santiago.

Strong Commercial Mortgage Lending

MetLife originated a number of commercial real estate loan transactions of $150 million and above in 2016, including the following:

  • $563 million first mortgage on a portfolio of Class A industrial properties in CA
  • $415 million first loan collateralized by a portfolio of 12 commercial mortgages across the United States
  • Lead lender with a $275 million co-lender position in a $550 million leasehold mortgage loan on Cherry Creek Shopping Center, a super-regional mall in Denver, CO
  • $245 million first mortgage on 321 North Clark, a Class A office tower in Chicago, IL
  • $199 million first mortgage on Chase Tower Dallas, a Class A office tower in Dallas, TX
  • $185 million first mortgage on a super-regional shopping center in Temecula, CA
  • $165 million first mortgage on 1180 Peachtree, a Class A office building in Atlanta, GA
  • $157 million first mortgage participation in a $361 million senior loan secured by 21 hotels in the United Kingdom
  • $150 million first mortgage on The Modern, a Class A high-rise apartment community located in Fort Lee, NJ

Within its international portfolio, MetLife expanded its lending activities in 2016, originating commercial real estate loans in Australia of approximately 725 million Australian dollars, in Japan of approximately 33 billion yen, and in additional investments in the United Kingdom, Mexico, Korea and Chile.

Equity Real Estate Investments

MetLife’s equity real estate portfolio includes investments in office, apartment, retail, industrial and hotel properties.

MetLife and its partners had a strong year adding high-quality assets to our real estate portfolio in a variety of markets,” Merck added. “We think the market in 2017 will offer ample opportunities for equity deals for institutional investors.”

MetLife continued to provide attractive opportunities to its equity real estate clients and execute its long-term strategy of developing core assets in markets with strong fundamentals. MetLife and its partners committed to invest $1.4 billion, including development and real estate joint ventures, among others, during the year ended December 31, 2016. Of particular note internationally, is the acquisition of Value Plaza Ageo, a shopping center located in Ageo, Japan. Of particular note domestically, is the development of Constitution Square, an 842,000 square foot office property in Washington D.C., and Wilshire Crescent Heights, a 150 unit apartment property in Los Angeles, CA.

MetLife also closed on $1.5 billion in commercial real estate sales in 2016.

About MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (MetLife), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

This news release may contain or incorporate by reference information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events. These statements can be identified by the fact that they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” and other words and terms of similar meaning, or are tied to future periods, in connection with a discussion of future operating or financial performance. In particular, these include statements relating to future actions, prospective services or products, future performance or results of current and anticipated services or products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, trends in operations and financial results.

Any or all forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining the actual future results of MetLife, Inc., its subsidiaries and affiliates. These statements are based on current expectations and the current economic environment. They involve a number of risks and uncertainties that are difficult to predict. These statements are not guarantees of future performance. Actual results could differ materially from those expressed or implied in the forward-looking statements. Risks, uncertainties, and other factors that might cause such differences include the risks, uncertainties and other factors identified in MetLife, Inc.’s most recent Annual Report on Form 10-K (the "Annual Report") filed with the U.S. Securities and Exchange Commission (the "SEC"), any Quarterly Reports on Form 10-Q filed by MetLife, Inc. with the SEC after the date of the Annual Report under the captions "Note Regarding Forward-Looking Statements" and "Risk Factors," and other filings MetLife, Inc. makes with the SEC. MetLife, Inc. does not undertake any obligation to publicly correct or update any forward-looking statement if MetLife, Inc. later becomes aware that such statement is not likely to be achieved. Please consult any further disclosures MetLife, Inc. makes on related subjects in reports to the SEC.

Contacts

Media:
MetLife
John Calagna, 212-578-6252

Release Summary

MetLife Originates a Record $15 Billion in Commercial Real Estate Loans in 2016

Contacts

Media:
MetLife
John Calagna, 212-578-6252