MetLife Lauds RecordBreaking 11B in Commercial Loans

MetLife Lauds RecordBreaking 11B in Commercial Loans

first_img in Origination, Servicing “”MetLife””:http://www.metlife.com/ originated $11 billion in commercial mortgages in 2011, making last year the largest on record for the life insurer.[IMAGE]The company said in a statement Monday that it achieved the results by signing off on a number of real estate transactions with mortgages roughly equal to $200 million and above.It said that these include $350 million on a loan for commercial real estate in Manhattan; $255[COLUMN_BREAK]million on a mortgage for an office building in Chicago; and super-regional malls based in Denver and Tampa, each worth $360 million and $325 million, respectively.””Capitalizing on the strength of the MetLife lending platform, we were able to originate a significant number of larger loans on trophy office buildings and dominant regional malls in the U.S.,”” Mark Wilsmann, managing director and head of MetLife’s mortgage lending group, said in a statement.Robert Merck, senior managing director and global head of real estate investments for the company, chalked up the results in a statement to “”key guiding principles, which enabled us to strategically navigate through the economic downturn during the past few years and remain an active lender in the market.””The record-breaking loans from last year come on the heels of a pullout by MetLife from the forward mortgage origination business, which the company announced last fall and completed in January.MetLife more recently axed 804 originators in Irving, Texas, where it filed a notice of layoff with state authorities in February. February 27, 2012 490 Views Agents & Brokers Company News Investors Lenders & Servicers MetLife Processing Service Providers 2012-02-27 Ryan Schuettecenter_img MetLife Lauds Record-Breaking $11B in Commercial Loans Sharelast_img

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