MetLife Investments headquarters, One MetLife Way, Hanover Township, NJ
HANOVER TOWNSHIP, NJ—Salus Government Properties has acquired One MetLife Way, the new global headquarters for MetLife Investments. Bellwether Enterprise Real Estate Capital arranged a $68.95-million acquisition loan through Morgan Stanley.
As previously reported by GlobeSt.com, One MetLife Way is an 185,000-square-foot, class-A office building, designed to LEED Gold Core and Shell as well as a LEED Platinum Interior. The innovative facility is designed to meet the demands of today's workplace. Special features of the property include an extensive park‐like exterior seating and lounge area, complete with an amphitheater, a waterfall, and a fire pit. The insurance giant's build-to-suit lease was recognized as the top office transaction of 2015 earlier this year by the Morris County Economic Development Corporation.
The loan's originator, C. Cooper Willis, executive vice president of Bellwether Enterprise and co-director of Southeastern Region, structured the loan 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,” says 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.”
HANOVER TOWNSHIP, NJ—Salus Government Properties has acquired One
As previously reported by GlobeSt.com, One
The loan's originator, C. Cooper Willis, executive vice president of Bellwether Enterprise and co-director of Southeastern Region, structured the loan 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
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
