METLIFE REAL ESTATE INVESTORS WINS $500 MILLION COMMERCIAL MORTGAGE MANDATE FROM REINSURANCE COMPANY
NEW YORK, March 12, 2015
MetLife, Inc. (NYSE: MET) announced today that its third party investment management arm won a mandate from a reinsurance company to invest $500 million in U.S. commercial real estate loans. MetLife Real Estate Investors will originate and service variable and fixed-rate loans across various property types for the reinsurance company.
MetLife closed the deal in the first quarter of 2015 and will manage the commercial mortgage loans as a separately managed account.
The company also said that it closed in November 2014 a similar commercial mortgage participation mandate for a U.S. life insurer to invest $300 million.
"This new mandate underscores the ability of our debt investment platform to meet our customers’ needs for innovative and well-managed solutions in commercial real estate," said Lou Jug, head of investor services for MetLife Real Estate Investors. "We look forward to participating actively in what should be a strong market among both lenders and borrowers in 2015."
MetLife Real Estate Investors’ debt platform currently has total commitments of more than $6 billion in separately managed accounts from five insurance companies and one bank. The platform currently has $1.3 billion in assets under management.
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.