MetLife Sells Peter Cooper Village and Stuyvesant Town Apartment Complex.

Business Wire | October 17, 2006 | Copyright

NEW YORK -- MetLife, Inc. (NYSE: MET) announced today the sale of Peter Cooper Village and Stuyvesant Town to Tishman Speyer, in a joint venture with BlackRock Realty, the real estate arm of BlackRock, Inc. (NYSE: BLK), for $5.4 billion. The sale is expected to result in a gain of approximately $3 billion, net of income taxes. It is anticipated that the sale will close in the fourth quarter of 2006, subject to customary closing conditions.

"Peter Cooper Village / Stuyvesant Town is an extraordinary asset and we are very pleased with the market reaction we received to ...

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