We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
MetLife Inc | NYSE:MET | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.48 | 2.10% | 72.00 | 71.22 | 70.16 | 70.32 | 3,154,134 | 01:00:00 |
MetLife Commits to Invest Approximately $1 Billion in Equity Real Estate in 2015
MetLife, Inc. (NYSE:MET) announced today that it originated, through its real estate investment group, approximately $14.3 billion globally in commercial real estate loans in 2015, an 18 percent increase over the $12.1 billion originated in the previous year. MetLife is one of the largest commercial mortgage lenders among life insurers.
MetLife also committed to invest approximately $1 billion in real estate equity in 2015, either through direct acquisition or as part of joint venture partnerships.
Within its international portfolio, MetLife expanded its lending activities in 2015, originating commercial real estate loans of more than $1.6 billion in the United Kingdom and more than $200 million in Mexico. MetLife also lent the following amounts in its local currency accounts: more than 1.2 billion Mexico pesos; approximately 45 billion Japanese yen; approximately 400 million Australian dollars; 20 billion South Korean won; and more than 4 million Chilean Unidad de Fomento (UF).
Real estate investments are an important part of MetLife’s asset-liability matching program. The long-term nature of these investments makes them a good match for the long-term liabilities the company writes.
MetLife’s institutional asset management business, MetLife Investment Management (MIM), also had a strong year. Celebrating its third year in operation in 2015, MIM originated approximately $1.1 billion in commercial mortgage loans for institutional clients.
“MetLife continued to be a major investor in real estate in 2015, 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 a leader in commercial mortgage lending both domestically and internationally. We also continued to create attractive opportunities for institutional investors through MetLife Investment Management, and we believe that 2016 will bring more success in asset management.”
MetLife’s real estate platform includes origination and asset management offices across eleven regional offices in the United States, London, Mexico City, Tokyo and Santiago, Chile.
Strong Commercial Mortgage Lending
MetLife originated a number of commercial real estate loan transactions of $150 million and above in 2015, including the following:
Equity Real Estate Investments
“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 believe that the market in 2016 will offer ample opportunities for equity deals for institutional investors.”
MetLife’s five largest equity real estate transactions in 2015 were:
About MetLife, Inc.
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.
About MetLife Investment Management (“MIM”)
MetLife, Inc. provides investment management services to affiliates and unaffiliated investors through various subsidiaries. MetLife Investment Management (“MIM”), MetLife, Inc.’s institutional investment management business, has more than 800 investment professionals located around the globe. Subsidiaries of MetLife, Inc. that provide investment management services include Metropolitan Life Insurance Company, MetLife Investment Advisors, LLC, MetLife Investment Management Limited, MetLife Investments Limited, MetLife Investments Asia Limited, MetLife Latin America Asesorias e Inversiones Limitada and MetLife Japan Asset Management Company.
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”) and 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.
L0116453993[exp1217][All States]
View source version on businesswire.com: http://www.businesswire.com/news/home/20160126005303/en/
MetLife, Inc.Fred Pieretti, 347-265-8515fpieretti@metlife.com
1 Year MetLife Chart |
1 Month MetLife Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions