Gross market worth of economic actual property property below administration climbs to $106.7 billion, a brand new excessive for MIM
MetLife Investment Management (MIM), the institutional asset administration enterprise of MetLife, Inc. (NYSE: MET), as we speak introduced that it accomplished $10.7 billion in new business actual property debt and fairness transactions in 2020, taking MIM’s international gross market worth of economic actual property property below administration (AUM) to $106.7 billion1 as of December 31, 2020. As of December 31, 2020, gross market worth of complete business mortgage mortgage AUM climbed to $74.0 billion2 and the gross market worth of complete actual property fairness AUM reached $32.7 billion3.
“Our markets confronted unprecedented challenges in 2020. I’m happy with how our actual property crew got here collectively and addressed the disaster, leveraging our a long time of expertise throughout a number of market cycles,” stated Robert Merck, international head of Actual Property and Agriculture for MetLife Funding Administration. “The energy and stability of our platform together with our tradition of threat administration allowed us to proceed supporting communities with actual property financing and funding initiatives that present area for individuals to work, store and dwell.”
MIM’s business actual property platform contains debt and fairness origination and asset administration capabilities throughout 13 workplaces within the U.S. and worldwide markets, together with the U.Ok., Japan, Korea, Chile and Mexico.
Regardless of the pandemic, MIM remained a supply of debt capital for the business actual property market. MIM originated 137 business mortgage loans totaling $8.5 billion in the course of the yr, offering assist for our debtors at the same time as market liquidity diminished in the course of the early months of the pandemic. This origination and institutional investor exercise helped improve the gross market worth of complete business mortgage mortgage AUM to $74.0 billion as of December 31, 2020.
On the fairness aspect, MIM acquired $2.2 billion of properties in 2020, and the gross market worth of complete actual property fairness AUM reached $32.7 billion. Prior to now a number of years, MIM has elevated publicity to property sorts similar to last-mile distribution facilities and suburban residences, whereas on the identical time underweighting asset lessons similar to decrease high quality regional malls. MIM believes its strategic and diversified method has allowed its actual property fairness portfolio to climate the current stress, and leaves the platform nicely positioned to hunt new alternatives in 2021.
MIM additionally continued to develop its worldwide portfolio in 2020, growing business actual property AUM in a number of key international markets. In Asia, MIM produced the equal of over $843 million in new transactions. MIM additionally continued to develop its presence within the U.Ok., with the equal of $527 million of economic actual property debt originations in 2020.
Industrial Mortgage Mortgage Manufacturing
MIM originated numerous important business mortgage mortgage transactions in 2020, together with the next:
Blackstone I-94 Industrial Portfolio (Chicago, Ailing. and Milwaukee, Wis.) – $218 million industrial portfolio first mortgage
seventeenth & Broadway Residences (Oakland, Calif.) – $115 million residence property first mortgage
Aegon European Headquarters (Edinburgh, U.Ok.) – £87 million ($107 million) workplace property senior mortgage
Marshfield Enterprise Park (Baltimore, Md.) – $108 million industrial portfolio first mortgage
Durham ID (Durham, N.C.) – $107 million workplace / life science property first mortgage
Actual Property Fairness Funding Manufacturing
MIM’s actual property fairness portfolio consists of investments in workplace, residence, retail, industrial and lodge properties. Transactions closed throughout 2020 included:
Park District (Dallas, Texas) – Acquisition of a lately accomplished residence constructing
Shakopee Industrial (Minneapolis, Minn.) – Class A industrial constructing with complete sq. toes (sf) of 855,000
Memphis & Nashville Core Industrial Portfolio (Tenn.) – 4 constructing, class A industrial portfolio consisting of two,919,349 sf
Sierra Fontana (Fontana, Calif.) – Improvement of an industrial constructing totaling 705,280 sf
Hanover eighth Road (Washington, District of Columbia) – Improvement of sophistication A residence constructing with 377 models
About MetLife Funding Administration
MetLife Investment Management, the institutional asset administration enterprise of MetLife, Inc. (NYSE: MET), is a worldwide public mounted revenue, non-public capital and actual property funding supervisor offering tailor-made funding options to institutional traders worldwide. MetLife Funding Administration offers private and non-private pension plans, insurance coverage corporations, endowments, funds and different institutional shoppers with a variety of bespoke funding and financing options that search to satisfy a variety of long-term funding goals and risk-adjusted returns over time. MetLife Funding Administration has over 150 years of funding expertise and, as of December 31, 2020, had $659.6 billion in complete property below administration.4
MetLife, Inc. (NYSE: MET), by way of its subsidiaries and associates (MetLife), is likely one of the world’s main monetary companies corporations, offering insurance coverage, annuities, worker advantages and asset administration to assist its particular person and institutional prospects navigate their altering world. Based in 1868, MetLife has operations in additional than 40 markets globally and holds main positions in the USA, Japan, Latin America, Asia, Europe and the Center East. For extra info, go to www.metlife.com.
The forward-looking statements on this information launch, similar to “believes,” “proceed,” “stays,” “search,” and “nicely positioned,” are based mostly on assumptions and expectations that contain dangers and uncertainties, together with the “Threat Elements” MetLife, Inc. describes in its U.S. Securities and Alternate Fee filings. MetLife’s future outcomes might differ, and it has no obligation to right or replace any of those statements.
1 Gross market worth of economic actual property AUM represents the worth of all business mortgage loans and actual property fairness managed by MIM, at estimated honest worth, introduced on the idea of gross market worth (inclusive of encumbering debt).
2 Gross market worth of complete business mortgage mortgage AUM represents the worth of all business mortgage loans managed by MIM, at estimated honest worth, together with business mortgage loans included inside sure actual property joint ventures owned by MetLife’s basic account, introduced on the idea of gross market worth (inclusive of encumbering debt).
3 Gross market worth of complete actual property fairness AUM represents the worth of all actual property fairness managed by MIM, at estimated honest worth, excluding business mortgage loans included inside sure actual property joint ventures owned by MetLife’s basic account, introduced on the idea of gross market worth (inclusive of encumbering debt).
4Complete AUM is comprised of all MetLife basic account and separate account property and unaffiliated/third occasion property, at estimated honest worth, managed by MIM.
View supply model on businesswire.com: https://www.businesswire.com/news/home/20210323006045/en/