Real Estate Weekly
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Cushman team tapped to finance construction on new MetLife HQ

Cushman & Wakefield announced that its Equity, Debt & Structured Finance group will arrange the construction financing for 67 Whippany Road in Morris County, NJ, a 184,960 s/f build-to-suit, Class-A office that will house MetLife Investment’s global headquarters

John Alascio, David Bernhaut, Alexander Hernandez, John Spreitzer, and Suraj Ravi of Cushman & Wakefield’s Equity, Debt & Structured Finance group have been assigned to arrange the financing on behalf of 67 Whippany Investors, LLC, a joint venture compromising affiliates of Vision Real Estate Partners and Rubenstein Partners, which is developing the 100 percent triple-net pre-leased property.

The official groundbreaking for the property was held in February 2015.

The new headquarters for the investments business of MetLife, Inc., the largest U.S. life insurer, will be located on 14 acres fronting Whippany Road in Whippany, NJ.

“We are thrilled to arrange the construction financing for this suburb corporate headquarters, which will house one of the premier financial firm and revolutionize workplace standards,” said Mr. Alascio. “The long-term lease duration and highly experienced co-development team make for a seamless financing arrangement.”

The facility – designed to sustainability standards for LEED Gold Core and Shell and LEED Platinum interiors – will feature amenities that will include a fitness center, employee food court with indoor and outdoor seating, and a café.

In promoting a transparent workplace, the facility will also include an open floor plan with breakout rooms and a town hall.

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