MetLife, Inc. (NYSE: MET) announced today, that through its real estate
investments department, it has closed a $235 million loan secured by BG
Group Place, for a partnership advised by Invesco Real Estate.
The newly-constructed BG Group Place is a 973,861 square foot high-rise
office building in downtown Houston, Texas that is LEED Platinum
certified.
“The BG Group Place investment aligns well with our overall commercial
real estate strategy and allows MetLife to grow in a key market for us,”
said Robert Merck, senior managing director and head of real estate
investments for MetLife. “We are confident that BG Group Place will
prove to be a beneficial component of our Texas portfolio.”
MetLife originated, through its real estate investments department, more
than $9.6 billion in commercial mortgage loans in 2012. The company
continues to be the largest portfolio lender in the insurance industry
with $43.1 billion in commercial mortgages outstanding at year end 2012.
MetLife’s real estate portfolio includes investments in office,
apartment, retail, industrial and hotel properties.
The transaction was led by Chad McKenney and John Hall from MetLife’s
Dallas regional office.
About MetLife
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. 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.
This press 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
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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
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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"), 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 we later become 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.
Copyright Business Wire 2013