Plus   Neg

MetLife Originates Above $11 Bln In Commercial Mortgage Loans In 2011

MetLife, Inc. (MET) said it originated, through its Real Estate Investments Department, over $11 billion in commercial mortgage loans in 2011, exceeding the more than $8 billion the company originated in 2010.

The company stated that it continues to be the largest portfolio lender in the insurance industry, with $40 billion in commercial mortgage loans outstanding.

Mark Wilsmann, managing director and head of MetLife's mortgage lending group, said, "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. We were able to originate top quality loans at yields that provided a pick-up of more than 100 basis points over comparable risk corporate bonds, adding long-term value to our investment portfolio."

MetLife noted that outside the U.S., it grew its lending activities in 2011, originating more than $600 million in mortgages in Mexico and nearly $800 million in London. The company added that it is an active lender in Japan, with more than 36 billion yen in lending in 2011.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Qualcomm Inc.'s former Chairman Paul Jacobs plans to acquire the chipmaker founded by his father and has approached several global investors in an effort to fund the buyout, the Financial Times reported. According to the report, Jacobs informed members of the Qualcomm board about his intention to take the company private. Qualcomm has a market capitalization of $90 billion. Tiffany & Co. (TIF) reported fourth-quarter net earnings of $62 million, or $0.50 per diluted share, which were 61% below the prior year's $158 million, or $1.26 per diluted share. The company recorded tax-related charges in the fourth quarter of 2017 and certain impairment charges in last year's fourth... BlackBerry has extended the term of its Chief Executive Officer and Executive Chairman John Chen through 2023. He has been heading the company for the last five years. Chen joined BlackBerry when the smartphone pioneer was going through a troubled time. He was focused on overhauling with a special focus on diversification. BlackBerry, the former leader in the smartphone space, is now into auto m
comments powered by Disqus
Follow RTT