Bellwether Enterprise Real Estate Capital has closed a $68,950,000 loan for the acquisition of One MetLife Way, the new global headquarters for MetLife Investments.
The financing was arranged through Morgan Stanley.
One MetLife Way is an 185,000 s/f Class-A office building, designed to LEED Gold Core and Shell as well as a LEED Platinum Interior.
The facility is designed to meet the demands of today’s workplace. Special features include an extensive park-like exterior seating and lounge area, complete with an amphitheater, a waterfall, and a fire pit.
Bellwether Enterprise is the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc.
The loan’s originator, C. Cooper Willis, executive vice president of Bellwether Enterprise and co-director of Southeastern Region, arranged the loan for Salus Government Properties.
Bellwether Enterprise delivered a loan structured around the asset’s acquisition closing and the completion of the landlord’s and tenant’s respective construction responsibilities.
“The closing was a coordinated, collaborative effort between Bellwether Enterprise, the borrower, the seller and Metlife,” said Willis.
“Thanks to Salus Government Properties’ strong history and cooperation with our team, the large acquisition came together with relative ease, and we are happy that we could assist them with their financing needs.”
“I am proud of the Bellwether Enterprise team for their hard work and flexibility in creating the lending structure for One MetLife Way,” said Ned Huffman, president of Bellwether Enterprise.
“Our flexibility is what sets us apart from other financers and gives borrowers trust in our abilities to arrange lending for large properties like this.”