METLIFE JOINT VENTURE ACQUIRES CONSTITUTION CENTER

Largest Privately Owned Office Building in the Nation's Capital

WASHINGTON, DC - December 12, 2012 MetLife, in a real estate joint venture with a U.S.based institutional investor, has purchased Constitution Center, the largest privately-owned office building in Washington, D.C. The trophy property recently underwent an extensive renovation, converting it to a green building and establishing it as one of the most desirable privately owned buildings in the market.

We are pleased to acquire an asset of this quality, which is positioned to provide attractive returns over a long-term investment horizon, said Robert Merck, global head of MetLife Real Estate Investors. This acquisition is the culmination of an intense effort by our Washington, DC-based team, and demonstrates our ability to source some of the best core investments in the country. This capability is at the heart of our recently unveiled third party asset management initiative which will target opportunities to leverage our existing organizational expertise and scale to create long-term value for our investors.

MetLife invests in office, apartment, hotel, retail and industrial opportunities in major U.S. markets as well as outside the U.S.

Constitution Center, a fully-leased, 10-story, 1.4 million square-foot office building was completely renovated in a $250 million project, completed in 2012. Major government agencies have fully leased the building, which features high quality design and materials, as well as unique shared amenities such as an auditorium, conference center, cafeteria, fitness center and central courtyard garden. Environmental features include LEED Gold certification and an advanced energy management system.

MetLife's joint venture partner was advised by Clarion Partners LLC.

Constitution Center has unrivaled scale and design efficiency, said Marc DeLuca, a managing director at Clarion Partners and head of acquisitions in Clarion's Washington, D.C. office. Its central location, proximity to public transportation and the availability of nearby shopping, hotels and restaurants make this asset an unsurpassed addition to our client's portfolio.

Clarion Partners advises its institutional client with respect to a joint venture program with MetLife to acquire and manage a portfolio of similar, high-profile office buildings in major U.S. cities.

The property is located in the southwest part of Capitol Hill, two blocks from the National Mall, an office submarket which typically exhibits vacancy below that of the District as a whole.

The seller, David Nassif Associates, was represented by the Washington, D.C. office of Eastdil Secured.

Financial terms of the transaction were not disclosed.

MetLife Real Estate InvestorsMetLife Real Estate Investors, a unit of MetLife, oversees a well-diversified real estate portfolio of more than $60 billion, which is one of the largest in the U.S. and consists of real estate equities, commercial mortgages and agricultural mortgages. MetLife is a global leader in real estate investment and real estate asset management, with a vast network of regional offices that keep in close contact with major real estate markets. For more information, visit www.metlife.com/realestate.

Clarion Partners LLCClarion Partners has been a leading U.S. real estate investment manager for over 30 years.

Headquartered in New York, the firm has offices in major markets throughout the U.S., So Paulo, Brazil and London, England as well as a presence in Mexico. With more than $25 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.

LINK:	https://www.metlife.com/about/press-room/us-press-releases/2012/index....
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