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MetLife Investment Management Announces Final Close of Single Family Rental Fund at $390 MillionMetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), announced today that it has successfully closed the MetLife Single Family Rental Fund, LP (SFR Fund) with $390 million in capital commitments. MIM's single-family rental (SFR) strategy is focused on developing and acquiring purpose-built, single-family rentals across the 75 largest U.S. markets. "We have a high level of conviction in the demand for single family rentals, and we see this fund as a natural extension of our experience investing in other housing segments, where our perspective as a leading institutional investment manager has served clients well," said Robert Merck, global head of Real Estate and Agricultural Finance at MIM. "We believe there's a significant and sustained opportunity to give renters access to well-located units designed specifically for their use." Commitments to the SFR Fund were secured from a global group of institutional investors. The SFR Fund is the first closed-end vehicle launched by the MIM real estate equity team. James Ray, who previously oversaw regional acquisitions and development activity in the southwest United States, is the portfolio manager for the SFR Fund. MIM's real estate platform consists of both commercial mortgage loan strategies and real estate equit strategies that together represented $111.2 billion in gross commercial real estate assets under management as of March 31, 2023.
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