MetLife, State Street to Partner on CRE Mortgage Debt
MetLife Investment Management and State Street Corporation have entered into a multi-year agreement in which MetLife Investment Management and its affiliates will originate and service up to $2 billion in commercial mortgage loans for State Street affiliates. State Street affiliates and MetLife affiliates will co-lend each loan under the agreement.
“This MetLife-State Street partnership offers customers access to two highly respected, leading financial institutions,” said Robert Merck, senior managing director and global head of real estate and agriculture, MetLife Investment Management.
“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.”
State Street’s Paul Selian said the agreement means adding CRE mortgages “to our broad suite of lending options, and we plan to lend in concert with our many asset management clients.”
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