MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc., announced today that it has placed long-term, first mortgage loans secured by approximately 832,000 acres of timberland and timber across the Southeastern United States. The financing allows Tamarack Timberlands LLC, which is owned by Ontario Teachers’ Pension Plan and whose assets are managed by Resource Management Service, LLC, to complete a $625 million redemption transaction and assume direct ownership of its timberland assets in the U.S. South.
All forest assets in the transaction are third-party certified to the Sustainable Forestry Initiative’s (SFI) forest management standards. As a result, the financial returns are complementary to Environmental, Social, and Corporate Governance (ESG) outcomes. The approach supports the protection of biodiversity, water and soil resources while contributing to climate change mitigation.
MIM’s Agricultural Strategies Group includes a team of loan officers with an average of 16 years’ experience in agricultural, agribusiness and timberland financing. The unit has regional offices in Germantown, Tenn., Overland Park, Kan. and Fresno, Calif.
Read more: Yahoo Finance
