MetLife Sells Half Of Houston Building To NY Pension Fund

Law360, New York (November 9, 2011, 6:35 PM EST) -- MetLife Inc. has sold a 50 percent stake in Houston’s Wells Fargo Plaza to the New York State Common Retirement Fund in an effort to make room for new investments while retaining a major interest in the property, the company said Wednesday.

MetLife said the transaction, details of which were not disclosed, would allow the company to take advantage of the work it's done in developing the 71-story, 1.7 million-square-foot office tower while moving forward with new investments.

"Selling a partial interest in Wells Fargo Plaza...
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