MBA NewsLink Staff
Moody's to Acquire Commercial Real Estate Data Provider Reis
Moody's Corp., New York, agreed to acquire data provider Reis, Inc., New York, in an all-cash transaction valued at $278 million.
Both companies' boards have approved the transaction.
Reis has studied U.S. commercial real estate for nearly 40 years and has data on some 18 million properties nationwide. It provides analysis and forecasts covering 275 metropolitan markets, 7,700 submarkets and all property sectors.
"Commercial real estate is analytically very complex, and Reis has committed decades of effort and expertise building a unique data asset with critical and hard to replicate information on this large and important asset class," said Moody's Analytics President Mark Almeida. "Their data on CRE supply and Moody's Analytics' insights on the demand for commercial properties will provide market participants with a 360-degree view of the economics of CRE lending and investment."
Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel to Moody's. Fried Frank Harris Shriver & Jacobson LLP acted as legal counsel to Reis and Canaccord Genuity served as financial advisor to Reis.
MetLife Investment Management, State Street Enter into $2B Co-Lending Agreement
MetLife Investment Management, New York, and State Street Corp., Boston, announced a multi-year agreement in which MetLife Investment Management and affiliates will originate and service for State Street affiliates up to $2 billion in commercial mortgage loans.
State Street affiliates and MetLife affiliates will co-lend each loan under the agreement.
MetLife Investment Management provides long-term public and private investment and financing advice to institutional investors. Last year, MetLife acquired traditional fixed-income strategies specialist Logan Circle Partners, LP.
ORIX Corp. USA Acquires NXT Capital
ORIX Corp. USA completed its previously announced acquisition of NXT Capital.
NXT Capital will continue operating under its existing brand from its Chicago headquarters with the same team. Robert Radway will continue to serve as NXT Capital Chairman and CEO.
Radway said NXT Capital will remain focused on its core middle-market corporate finance and real estate business segments.