{"id":1004258975,"date":"2018-08-21T04:39:21","date_gmt":"2018-08-21T12:39:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004258975"},"modified":"2022-12-09T02:06:14","modified_gmt":"2022-12-09T10:06:14","slug":"metlife-state-street-team-up-in-2b-co-lending-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/","title":{"rendered":"MetLife, State Street Team Up in $2B Co-Lending Deal"},"content":{"rendered":"

By Scott Baltic, Contributing Editor <\/em><\/p>\n

\"Paul<\/a>

Paul Selian, head of global credit finance, State Street Global Markets<\/p><\/div>\n

MetLife Investment Management, the institutional asset management arm of MetLife Inc., and State Street Corp. have formed a multi-year partnership in which MetLife Investment Management and its affiliates will originate and service for State Street affiliates as much as $2 billion in commercial mortgage loans, MetLife announced. State Street affiliates and MetLife affiliates will co-lend each loan under the agreement.<\/p>\n

\u201cWe are pleased to partner with MetLife to source new investment opportunities, as well as add commercial real estate mortgages to our broad suite of lending options<\/em>,\u201d Paul Selian, head of global credit finance for State Street Global Markets, said in a prepared statement.<\/p>\n

\"Robert<\/a>

Robert Merck, senior managing director & global head of real estate and agriculture, MetLife Investment Management<\/p><\/div>\n

\u201cThis 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<\/em>,\u201d added Robert Merck, senior managing director & global head of real estate and agriculture, MetLife Investment Management.<\/p>\n

\u201cThis new partnership with State Street extends our broader real estate lending platform further into the market<\/em>,\u201d Gary Otten, head of Real Estate Debt Strategies, MetLife Investment Management, told Commercial Property Executive<\/em>. \u201cBy focusing on both short- and long-term loans across both fixed- or floating-rate loan products, it complements our strategic focus on lending to top-tier sponsors with top-tier assets.<\/em>\u201d<\/p>\n

\u201cOur CRE lending targets commercial real estate properties in the U.S., and property types include office, industrial, multifamily, retail and hospitality<\/em>,\u201d a State Street spokesperson told Commercial Property Executive<\/em>.<\/p>\n

Lend here, buy there \u2026<\/h2>\n

Just in the last several weeks, MetLife has completed the kinds of transactions that have made it a perennial player in North American CRE.<\/p>\n

\"Gary<\/a>

Gary Otten, head of Real Estate Debt Strategies, MetLife Investment Management<\/p><\/div>\n

In mid-July, it provided a $450 million 12-year, fixed-rate loan<\/a> to a joint venture of Macerich and Northwestern Mutual to refinance Broadway Plaza in Walnut Creek, Calif. The 960,000-square-foot Class A lifestyle center is 98 percent occupied.<\/p>\n

Later that month, MetLife paid $97 million<\/a> to buy a creative office building in Needham, Mass. The 247,500-square-foot building is part of Founders Park, a 41-acre redevelopment by Normandy Real Estate Partners of a former General Dynamics campus.<\/p>\n

Images courtesy of MetLife Investment Management<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The multi-year partnership marks State Street\u2019s debut in CRE financing. The co-lending program will be targeting a variety of product types nationwide, including office, industrial, multifamily, retail and hospitality assets. <\/p>\n","protected":false},"author":882,"featured_media":1004259023,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,23891,21742],"tags":[32958,32924,37376,41678,34687],"class_list":["post-1004258975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-national","category-latest","tag-macerich","tag-metlife","tag-northwestern-mutual","tag-robert-merck","tag-state-street-corporation"],"acf":[],"yoast_head":"\nMetLife, State Street Team Up in $2B Co-Lending Deal - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MetLife, State Street Team Up in $2B Co-Lending Deal\" \/>\n<meta property=\"og:description\" content=\"The multi-year partnership marks State Street\u2019s debut in CRE financing. The co-lending program will be targeting a variety of product types nationwide, including office, industrial, multifamily, retail and hospitality assets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-21T12:39:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:06:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Paul-Selian.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metlife-state-street-team-up-in-2b-co-lending-deal\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metlife-state-street-team-up-in-2b-co-lending-deal\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"MetLife, State Street Team Up in $2B Co-Lending Deal\",\"datePublished\":\"2018-08-21T12:39:21+00:00\",\"dateModified\":\"2022-12-09T10:06:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metlife-state-street-team-up-in-2b-co-lending-deal\\\/\"},\"wordCount\":422,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metlife-state-street-team-up-in-2b-co-lending-deal\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/08\\\/Paul-Selian.jpg\",\"keywords\":[\"Macerich\",\"MetLife\",\"Northwestern Mutual\",\"Robert Merck\",\"State Street Corporation\"],\"articleSection\":[\"Featured\",\"Investment\",\"National\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metlife-state-street-team-up-in-2b-co-lending-deal\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metlife-state-street-team-up-in-2b-co-lending-deal\\\/\",\"name\":\"MetLife, State Street Team Up in $2B Co-Lending Deal - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metlife-state-street-team-up-in-2b-co-lending-deal\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metlife-state-street-team-up-in-2b-co-lending-deal\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/08\\\/Paul-Selian.jpg\",\"datePublished\":\"2018-08-21T12:39:21+00:00\",\"dateModified\":\"2022-12-09T10:06:14+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metlife-state-street-team-up-in-2b-co-lending-deal\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metlife-state-street-team-up-in-2b-co-lending-deal\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metlife-state-street-team-up-in-2b-co-lending-deal\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/08\\\/Paul-Selian.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/08\\\/Paul-Selian.jpg\",\"width\":800,\"height\":620,\"caption\":\"Paul Selian, head of global credit finance, State Street Global Markets\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/metlife-state-street-team-up-in-2b-co-lending-deal\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"MetLife, State Street Team Up in $2B Co-Lending Deal\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\",\"name\":\"Scott Baltic\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/06\\\/Scott.jpg?w=96\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/06\\\/Scott.jpg?w=96\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/06\\\/Scott.jpg?w=96\",\"caption\":\"Scott Baltic\"},\"description\":\"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/scott-baltic\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"MetLife, State Street Team Up in $2B Co-Lending Deal - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/","og_locale":"en_US","og_type":"article","og_title":"MetLife, State Street Team Up in $2B Co-Lending Deal","og_description":"The multi-year partnership marks State Street\u2019s debut in CRE financing. The co-lending program will be targeting a variety of product types nationwide, including office, industrial, multifamily, retail and hospitality assets.","og_url":"https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-08-21T12:39:21+00:00","article_modified_time":"2022-12-09T10:06:14+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Paul-Selian.jpg","type":"image\/jpeg"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/"},"author":{"name":"Scott Baltic","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"headline":"MetLife, State Street Team Up in $2B Co-Lending Deal","datePublished":"2018-08-21T12:39:21+00:00","dateModified":"2022-12-09T10:06:14+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/"},"wordCount":422,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Paul-Selian.jpg","keywords":["Macerich","MetLife","Northwestern Mutual","Robert Merck","State Street Corporation"],"articleSection":["Featured","Investment","National","News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/","url":"https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/","name":"MetLife, State Street Team Up in $2B Co-Lending Deal - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Paul-Selian.jpg","datePublished":"2018-08-21T12:39:21+00:00","dateModified":"2022-12-09T10:06:14+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Paul-Selian.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Paul-Selian.jpg","width":800,"height":620,"caption":"Paul Selian, head of global credit finance, State Street Global Markets"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/metlife-state-street-team-up-in-2b-co-lending-deal\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"MetLife, State Street Team Up in $2B Co-Lending Deal"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Paul-Selian.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004258975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004258975"}],"version-history":[{"count":7,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004258975\/revisions"}],"predecessor-version":[{"id":1004259080,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004258975\/revisions\/1004259080"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004259023"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004258975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004258975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004258975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}