PRESS RELEASE: MetLife Investment Management and Granite Properties Announce Partnership to Develop Midtown Union in Atlanta, GA with Invesco as Anchor Tenant
May 30, 2019 12:52 PM Eastern Daylight Time
ATLANTA–(BUSINESS WIRE)–MetLife Investment Management (MIM), MetLife Inc.’s (NYSE: MET) institutional asset management business, in partnership with Granite Properties, a commercial real estate investment, development and management company, today announced that global investment management company, Invesco, will become the anchor tenant of the future Midtown Union development in Atlanta, Georgia.
Midtown Union, a major mixed-use property development spanning 8.5 acres in Atlanta at the gateway to Midtown at 17thStreet and West Peachtree Street, is expected to welcome Invesco once the office component of the development is completed in 2022. Covering approximately 606,000 square feet of LEED Certified Class A office space, the 26-story office development designed by Cooper Carry is the first phase of a multi-phase development in this prime midtown Atlanta location. Granite will also serve as development partner for the project.
Robert Merck, senior managing director and global head of real estate and agriculture, MetLife Investment Management, said: “We’re excited that Invesco has chosen Midtown Union to expand its global headquarters and play an even larger role in the local Atlanta community. Midtown Union, once complete, will offer a range of attractive amenities and further cement the area as one of the most desirable local precincts for growing companies in Atlanta.”
“Granite is excited to partner and develop this project with MetLife Investment Management and Invesco. Midtown Union is an innovative and sustainable mixed-use development offering a high-quality work environment with unique experiences and modern amenities, including a roof deck, customer lounge and fitness center to foster a vibrant, collaborative and productive office community,” said John Robbins, senior managing director of Granite Atlanta.
JLL is working with MetLife Investment Management and Granite Properties on the transaction, with CBRE representing Invesco.
MetLife Investment Management has a strong track record in build-to-core real estate developments across all property sectors. Other notable projects developed or in development include Park Tower in San Francisco (in partnership with The John Buck Company and Golub & Company), Binary Towers in Seattle (with Trammell Crow Company) and Park District in Dallas (with Trammell Crow Company).
Granite is an established investor and developer across the U.S., with a focus on high-quality build-to-core projects. Granite is currently working on mixed-use development projects valued at over $1 billion in Atlanta, Boston, Dallas, Houston and Nashville. Over the years, Granite has owned or co-developed over 2 million square feet in Atlanta, including 100 City View, Piedmont Center 5-8, Glenlake I and III, Cumberland Office Park, Parkside Terrace, COMPLEX and Inland Tract, among others.
About MetLife Investment Management
MetLife Investment Management, MetLife, Inc.’s institutional asset management business, is a global fixed income and real estate manager providing differentiated investment solutions to institutional investors worldwide. MetLife Investment Management provides institutional investors including corporate and government pension plans, insurance companies and other financial institutions with long-term public and private investment and financing solutions. MetLife Investment Management leverages a disciplined credit research and underwriting process to provide institutional investors with asset origination and acquisition opportunities and proprietary risk management analytics across public fixed income strategies, private placements, and commercial real estate debt and equity investing, among others. For more information, visit https://investments.metlife.com.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
About Granite Properties
Granite Properties is a privately held commercial real estate investment, development and management company founded in 1991, with offices in Dallas, Houston, Atlanta, Denver and Southern California. It has completed more than $7 billion in real estate transactions and more than 27.1 million square feet of real estate development and acquisitions. Granite focuses on creating extraordinary customer experiences in each building through mixed-use environments rich in amenities and customer-centric service to help people flourish. Granite, a NREI Top Office Owner, has been named as one of FORTUNE’s Best Workplaces for seven consecutive years. For more information, visit www.graniteprop.com.
Cautionary Statement on Forward-Looking Statements and Non-GAAP Financial Information
This press release may contain or refer to forward-looking statements. Forward-looking statements give expectations or forecasts of the future using terms such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “will,” and other terms tied to future periods. Results could differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements are based on assumptions and expectations. They involve risks and uncertainties, including the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. The company has no obligation to correct or update any forward-looking statement. Parts of this press release may include additional information on forward-looking statements.