This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

MetLife’s Commercial Real Estate Loans Top $11 Billion In 2013

Stocks in this article: MET

MetLife, Inc. (NYSE:MET) announced today that it originated, through MetLife Real Estate Investors, approximately $11.5 billion in commercial real estate loans in 2013. MetLife remains a leader in the commercial mortgage marketplace and the largest lender in the insurance industry, with a portfolio of more than $42 billion in commercial mortgages.

MetLife Real Estate Investors, reorganized in late 2012 to include an asset management capability for institutional investors, also had a strong first full year of operation. The company secured more than $7 billion in commitments from institutional investors.

The company agreed to invest nearly $3 billion in its equity real estate portfolio, including deals with several new joint venture partners in 2013. MetLife’s authorized investment in such properties was $1.9 billion, with the balance provided by other investors. Commercial mortgage lending and equity real estate deals provide MetLife with investment opportunities that match the long-term liabilities the company writes through its insurance products.

Within its international portfolio, MetLife also successfully grew its lending activities in 2013, originating $1.2 billion in the United Kingdom, $500 million in Mexico, $400 million in Japan, and $225 million in Chile.

“MetLife was prolific across a variety of real estate sectors in 2013,” said Robert Merck, senior managing director and global head of real estate investment for MetLife. “We strengthened our position as a leader in commercial mortgage lending both domestically and internationally. In addition, we expanded our activity in the asset management space and anticipate continuing to creating attractive opportunities for institutional investors.”

Strong Commercial Mortgage Lending

MetLife originated a number of high-quality commercial real estate loan transactions with sizes of $100 million and above. Some noteworthy transactions in 2013 included:

  • $500 million participation in a $1 billion first mortgage on 1095 Avenue of the Americas, a Class A office building in midtown Manhattan that serves as MetLife’s headquarters
  • $450 million loan on The Shops at Columbus Circle, a high-end retail center located in the Time Warner Center at Columbus Circle in Manhattan
  • $360 million first mortgage on The Americana at Brand, a super-regional shopping center in Los Angeles County
  • $320 million senior loan on the Edwardian Hotel Group, collateralized by a portfolio of hotels in the United Kingdom
  • $235 million first mortgage on BG Group Place, a Class A office tower in Houston, Texas
  • $150 million loan on The Mall at Green Hills, a top-quality regional mall located in Nashville, Tenn.
  • $125 million (MXP 1.67 billion) senior loan secured by a cross-collateralized pool of eight retail properties located in various cities across Mexico, including Reynosa, Escobedo, Saltillo and Juarez
  • $114 million (JPY 11.4 billion) senior loan secured by a cross-collateralized pool of six office and two residential properties located in Tokyo, Osaka and Hokkaido, Japan
  • $100 million first mortgage on Mosaic Apartments, a 386-unit, Class A multifamily project in San Jose, Calif.

Asset Management

MetLife’s asset management business secured more than $7 billion in investor commitments in real estate and mortgage loans from partners such as Norges Bank and Sun Trust Bank.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,614.81 +215.14 1.31%
S&P 500 1,941.28 +37.27 1.96%
NASDAQ 4,419.4780 +103.4040 2.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs