MetLife, UDR Team Up To Build $317M High-Rise

Law360, New York (December 11, 2013, 3:25 PM EST) -- Insurance giant MetLife Inc. and real estate company UDR Inc. have formed a joint venture to invest about $317 million in the construction of a 42-story, luxury high-rise apartment complex in San Francisco, the companies announced Wednesday, marking the third joint venture between the firms.

In July, MetLife invested $145 million into a UDR-owned Dallas-area luxury apartment complex, and in January 2012, the two entered a 50-50 joint venture worth $1.3 billion that now owns more than 15 apartment properties with a combined 3,119 apartments across...
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