AUSTIN, Texas – March 23, 2016 – CBRE Group, Inc. announces the offering to invest in a lifestyle office building in Austin, Texas, on behalf of MetLife Investment Management (MIM), the institutional investment management business of MetLife, Inc. The offering includes the opportunity to acquire up to a 50 percent interest in a joint venture investing in 100 Congress, a landmark, trophy office tower with an irreplaceable location in Austin's Central Business District.
The Class AA office tower has 411,536 rentable square feet and is 95 percent leased to a diversified base of credit-worthy tenants.
"100 Congress presents a rare opportunity to invest in world-class levels of space and tenancy within the highly coveted downtown Austin market,” said John Alvarado, Senior Vice President, CBRE. “There truly is no better combination of quality and location—the very essence of core real estate—across the State of Texas.”
Prominently positioned on the downtown Austin skyline, 100 Congress was developed in 1987 and has been consecutively managed by MIM, one of the country’s premier real estate owners and operators, since then. In 2014, MIM completed a comprehensive and substantial renovation that helps to solidify 100 Congress as one of the best assets in the market.
Mr. Alvarado, Russell Ingrum, Gary Carr, Todd Mills, and Robert Hill are representing MIM.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin American, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
About MetLife Investment Management
MetLife Investment Management (MIM) is the company’s institutional investment management business. MIM invests in a variety of strategies across various asset classes including real estate equity, real estate debt and private placements.
