METLIFE INVESTMENT MANAGEMENT EXCEEDS $20 BILLION IN AGRICULTURAL MORTGAGE LOAN ASSETS UNDER MANAGEMENT IN 2019

METLIFE INVESTMENT MANAGEMENT EXCEEDS $20 BILLION IN AGRICULTURAL MORTGAGE LOAN ASSETS UNDER MANAGEMENT IN 2019 WHIPPANY, N.J., April 16, 2020 MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), announced today that it reached $20.4 billion in total agricultural mortgage loan assets under management (AUM) as of December 31, 2019. In the five years since 2014, total agricultural mortgage loan AUM have grown by 59 percent, bolstering the firm's status as the largest non-government sponsored, agricultural mortgage lender in the United States1.

Our agricultural finance group successfully navigated 2019 with another year of strong production despite trade uncertainty and unprecedented planting delays across the corn belt, according to Robert Merck, senior managing director and global head of real estate and agriculture at MetLife Investment Management. We continued to leverage our strong local market relationships with top producers to deliver attractive financing solutions for our borrowers in an effort to achieve high relative value for our investors.

MIM originated $4.3 billion in global agricultural mortgage loans across more than 500 transactions in 2019, contributing to an 4% year over year increase in the number of agricultural mortgage loans managed.

Merck added: Strong relationship lending has been key to our success, with many borrower relationships spanning multiple decades and multiple generations. We look forward to continuing this tradition of creating customized financing solutions, just as we have for over 100 years.

Highlights of MIM's agricultural lending transactions for 2019 include:

Stamoules

$100 million adjustable rate mortgage with a 20 year term

Secured by approximately 9,500 acres of prime California cropland

Vertically integrated grower, packer and shipper of fresh produce and tree nuts grown in the Central Valley of California

Nuveen Global Farmland Fund

$250 million shelf financing for 15 year term

Provides capital for the acquisition and improvement of farmland across the United States

Initial collateral comprised of prime permanent plantings including vineyards and tree nuts in California

Lyme Great Lakes Holdings, LLC

$210 million senior secured fixed-rate financing for 15 years

Secured by approximately 677,000 acres in Michigan and Wisconsin

Collateral boasts an array of high value commercial hardwood timber species

Cool Port Oakland

$81 million senior secured variable-rate financing for five years

Secured by a 276,000 square foot cold storage distribution facility in Northern California

Collateral represents the newest and most advanced hub for temperature-controlled perishable food cargo transitioning through the Port of Oakland

Horticola Cimarron

$55 million senior secured fixed-rate financing for 10 years

Secured by 307 hectares of rural land in Mexico

Collateral includes high tech greenhouses producing tomatoes and peppers

LINK:	https://www.metlife.com/content/metlife/us/homepage/about-us/newsroom/...
	See more stories from metlife

Most recent headlines