MetLife has provided £200m of debt for Blackstone’s £320m purchase of 125 Old Broad Street, EC2.
The US insurer has provided a six-year loan to the private equity firm that reflects a loan to value of just over 60%.
MetLife had been the lender to vendor Brookfield Property Partners but has issued the new loan, which is understood to have a margin of around 150 basis points.
It is the second recent deal between the pair, after MetLife jointly funded Blackstone’s £296m purchase of Alban Gate alongside Wells Fargo.
bridget.oconnell@estatesgazette.com
