J.P. Morgan Chase Buys Retail Portfolio in California
MetLife's Robert Merck, Chase bank property (Loopnet, Getty, MetLife) J.P. Morgan Chase has acquired a 22-property California portfolio that it pre...
MetLife's Robert Merck, Chase bank property (Loopnet, Getty, MetLife) J.P. Morgan Chase has acquired a 22-property California portfolio that it previously leased from MetLife, The Real Deal has learned. The package, which totals 252,000 square feet, changed hands in a $138 million deal, according to a source with knowledge of the transaction. The portfolio includes 12 retail bank location properties in Southern California and 10 in Northern California. The seller is MetLife Investment Management, the institutional asset management arm of the New York-based insurer.