Metlife has record year for commercial mortgages, $11B in total 2011 volume

by 27 Feb 2012

Metlife commercial, lending, commercial mortgages
( MetLife Inc. originated nearly$11 billion of commercial mortgages against properties in the United States in 2011. The company's total volume was up nearly 40 percent from the $8 billion it originated in 2010.  The $11 billion in mortgages originated in 2011 include $800M of loans for properties in London, $400 million against properties in Tokyo and roughly $600 million in Mexico City.  This has made 2011 their most productive year ever.

Their commercial mortgage portfolio totals $40 billion. "Our commitment to prudent risk management and our long-term investment approach has allowed us to take advantage of attractive opportunities in the U.S. and internationally," said Robert Merck, senior managing director and global head of real estate investments for the insurance company.

A spokesman said, "we expect to maintain our market leading role in the financing of large, institutional quality properties and portfolios." More than 85 percent of its origination volume was what MetLife referred to as repeat business, where it already has an established relationship with the borrower. "We are proud that our clients keep coming back to us," Merck said.

MetLife Real Estate Investments, the CRE lending side of the business, boosted its portfolio with real estate loans exceeding $200 million. One of the main loans was on a $350 million loan at 1540 Broadway in Manhattan; a $255 million loan on 155 North Wacker in Chicago; a $360 million loan on Park Meadows in Denver; and a $325 million loan on International Plaza in Tampa.



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