US insurance group MetLife said on Monday that it has originated over $11 bn (EUR 8 bn) in commercial mortgage loans in 2011, the company's largest production year ever. The figure compares to a volume of $8 bn in 2010, it added.
US insurance group MetLife said on Monday that it has originated over $11 bn (EUR 8 bn) in commercial mortgage loans in 2011, the company's largest production year ever. The figure compares to a volume of $8 bn in 2010, it added.
Outside the US, MetLife originated nearly $800 mln in mortgages in London and more than $600 mln in Mexico. 'In 2012, we expect that MetLife will continue to take advantage of its market-leading position among portfolio lenders to expand its commercial mortgage activity globally through our regional offices in London, Mexico City and Tokyo,' Robert Merck, senior managing director and global head of real estate investments for MetLife. 'We are particularly attracted by the market opportunity in the UK, where very favorable conditions continue for lenders like MetLife.'
MetLife continues to be the largest portfolio lender in the insurance industry worldwide, with $40 bn in commercial mortgage loans outstanding.
'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,' said Mark Wilsmann, managing director and head of MetLife's mortgage lending group.
