MetLife Investment Management, State Street in $2 Billion Co-Lending Agreement
August 16 2018 - 6:14PM
Dow Jones News
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 stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
August 16, 2018 17:59 ET (21:59 GMT)
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