Met takes $700m of multi billion dollar loan.MetLife Real Estate Investments has acquired the largest piece of a $1.8 billion syndicated financing secured by 30 properties owned in seven real estate funds managed by Douglas Emmett Realty Advisors. MetLife took senior tranches of the debt package totaling $700 million. Eurohypo Bank and Barclays capital Barclays Capital is the investment banking division of Barclays plc. It is a primary dealer in U.S. Treasury securities and various European Government bonds. Barclays Capital is led by CEO Robert (Bob) Diamond, an American who had been vice-chairman of Credit Suisse First were the syndicators of the huge financing. The balance of the five-year, floating rate loan was acquired by 14 other banks and insurance companies. The Douglas Emmett properties securing the financing are located predominantly in the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. area. The 30 properties are concentrated in 10 different submarkets within the Westside, San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. , and tri-cities office markets of Los Angeles County; two properties are in Honolulu, Hawaii For the city and county of Honolulu, see City & County of Honolulu. “Honolulu” redirects here. For other uses, see Honolulu (disambiguation). Honolulu is the capital as well as the most populous community of the State of Hawaii, United States. . The portfolio is leased to over 1,300 tenants, diversified across the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , legal, and entertainment, insurance, real estate and health care industries. Matt Mabray and Christine Tran of MetLife's Los Angeles office teamed with Ken McIntyre and Scott Hirsch of MetLife's Capital Markets Group to secure the $700MM investment. MetLife has enjoyed a previous lending relationship with Douglas Emmett Realty Advisors, and maintains a $100 million mortgage on the Trillium at Warner Center office project in Woodland Hills that is held outside the portfolio financing. |
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