MetLife Investment Management, State Street in $2 Billion Co-Lending Agreement

   By Stephen Nakrosis 
 

MetLife Investment Management and State Street Corporation (STT) said Thursday they entered a multi-year agreement, under which MetLife Investment Management and its affiliates will originate and service for State Street affiliates up to $2 billion in commercial mortgage loans.

MetLife Investment Management is the institutional asset management platform for MetLife, Inc. (MET).

Affiliates of State Street and MetLife will co-lend each loan under the agreement.

Robert Merck, senior managing director and global head of real estate and agriculture, MetLife Investment Management, said, "This is an important step in growing our real estate platform, and we look forward to partnering with State Street to provide a wider range of real estate financing options to our borrowers."

"We are pleased to partner with MetLife to source new investment opportunities, as well as add commercial real estate mortgages to our broad suite of lending options," said Paul Selian, head of global credit finance for State Street Global Markets.

--Write to Stephen Nakrosis at [e-mail]

(END) Dow Jones Newswires

August 16, 2018 17:59 ET (21:59 GMT)

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