MetLife, Inc. (MET: Quote) 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.
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by RTT Staff Writer
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