METLIFE ACQUIRES TREAT TOWERS
SAN FRANCISCO, August 28, 2012 – MetLife announced today that it has expanded its real estate investment portfolio in the San Francisco Bay Area by acquiring Treat Towers, a two-building, ten-story class-A, LEED-EB Gold certified office complex totaling 378,000 square feet in Walnut Creek. Located at 1255 & 1277 Treat Boulevard, the property was previously owned by an Equity Office Properties joint venture.
Joel Redmon and Jacqueline Denning, with Leslie Smith, of MetLife's San Francisco Regional Office, led MetLife's acquisition effort.
"Treat Towers is an outstanding asset," said Jacqueline Denning, Director. "This Class A property fits very well with our strategy of buying and holding core assets in top-tier markets. We're pleased to be able to add Treat Towers to our strong, well-diversified portfolio of commercial real estate."
MetLife invests in office, apartment, retail and industrial opportunities in major U.S. markets as well as outside of the U.S.
The buildings, which are connected by an attractive plaza, are conveniently located near Interstate-680 and provide direct access to extensive public and private transportation. Within one block of the Pleasant Hill/Contra Costa Centre BART station, the property also contains a parking facility with six levels of covered parking to serve over 1,100 vehicles. On-site amenities include a fitness center, conference center with a fully equipped training room and a professional board room, an ATM in both buildings, banking facilities and a full service café.
Harvest Properties, Inc. of Emeryville will oversee management of Treat Towers. Cornish & Carey Commercial Newmark Knight Frank's Breck Lutz and Knute Bucklew will assume leasing responsibilities for the project.
"There are a number of very attractive amenities that make Treat Towers a great property," said Breck Lutz of Cornish & Carey Commercial Newmark Knight Frank. "We're looking forward to working with MetLife and all the companies that call Treat Towers home to help ensure it is considered to be one of the best office addresses in the market."
Metropolitan Life Insurance Company (MetLife) is a subsidiary of MetLife, Inc., a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers. Through its real estate investments department, MetLife oversees a well-diversified real estate portfolio of more than $60 billion, which is one of the largest in the U.S. and consists of real estate equities, commercial mortgages and agricultural mortgages. MetLife is a global leader in real estate investment and real estate asset management, with a vast network of regional offices that keep in close contact with major real estate markets. For more information, visit www.metlife.com/realestate.
Speeches & Testimony
MetLife CEO Steve Kandarian in a major address on systemic risk says the federal government should focus on regulating risky activities not institutions.
MetLife Americas President William J. Wheeler testifies before Congress on systemic risk.