MetLife Expands to Irish Real Estate Market

In a wee bit o’news that is perfectly timed with today’s St. Patrick’s Day celebrations, MetLife Inc. has announced that it is lending $146 million to the Beverly Hills, Calif.-based real estate investment and services company Kennedy Wilson to finance four properties in Ireland.

The loans, through MetLife Real Estate Investors, include both five-year floating and 10-year fixed rate structures for Dublin-based properties that include three Class A residential multi-family properties that provide 751 high-end residential units and a multi-tenant office property. The loans are MetLife Real Estate Investors’ first foray into Ireland.

“We are very pleased to be able to enter a new market with a strong, experienced international player like Kennedy Wilson,” said Paul Wilson, managing director and head of MetLife Real Estate Investors’ office in London. “These loans are the first for us in Ireland and we look forward to growing our portfolio in that market.”

On the housing front, those seeking a home in the Emerald Isle will find things are somewhat pricey when compared to the U.S. market. According to Goodbody Stockbrokers, the average sale price on Irish residential property is now approximately $217,000, up roughly $30,000 on a year-over-year basis.