MetLife and SunTrust Enter Commercial Real Estate Agreement

Insurance provider MetLife (NYSE: MET  ) and financial services firm SunTrust Banks (NYSE: STI  ) announced Monday that SunTrust Banks will be financing MetLife Real Estate Investors' commercial real estate mortgages. The structure of the new agreement is spread over three years and will include a possible $5 billion total investment from SunTrust.

MetLife had $43.1 billion in commercial mortgages outstanding as of the end of 2012, and $9.6 billion in commercial mortgage loan originations during the same year. This, along with more than 100 years of experience in real estate investing, makes the company one of the largest portfolio lenders in the industry.

In a statement, SunTrust executive vice president and head of Commercial Real Estate Walt Mercer said MetLife's reputation as a "proven and well-respected real estate investment leader" would be beneficial to the financial services company "as the commercial real estate market continues to regain its footing."

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2581221, ~/Articles/ArticleHandler.aspx, 8/27/2014 1:02:34 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement