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MetLife Sells Miami-Dade Office Portfolio

MIAMI-The acquisition expands DRA’s South Florida real estate portfolio, which includes office buildings and shopping centers.

By Jennifer LeClaire | Updated on December 27, 2011

MIAMI—Metropolitan Life Insurance Company just shed some of its Miami assets. The company sold the West Building Portfolio, five buildings on Blue Lagoon Drive in Miami, to DRA Fund VII. The portfolio spans 345,000 square feet. Sources say the portfolio sold for $44 million.

Mark Gilbert, Mike Davis and Adam Feinstein of Cushman & Wakefield’s Southeast Capital Markets Group served as the exclusive advisors to MetLife. Completed between 1982 and 1988, the assets have always been institutionally owned.

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