MoDe to Develop Turnkey LEED, A+ Office Building for Metlife

MoDe and Metlife – through its Chilean branch Metlife Chile Seguros de Vida S.A. – have closed a deal for the financing, and later purchase, of a 178,000 sf, 14-storey, LEED certified, Class A+ office building, to include underground parking for 246 cars and 145 bicycles in 6 levels.

Metlife Chile owns and manages several Class A assets in the category and is looking at expanding its portfolio with discrete investments in the east side of Santiago. Both parties see this initial partnership as the grounds for future collaboration at scale given the alignment of Metlife’s general investment vision, and MoDe’s boutique approach to strategic development with a focus on design and sustainability.

Metlife joins in the context of a short and successful roadshow aimed at private equity firms and local investors focused on Class A office assets. For MoDe and our group of investors, Metlife was a preferred partner given their expertise, business ethos, and their unique model that combines financing and ownership, entirely removing the commercialization risk for MoDe.

This partnership consolidates MoDe as a relevant local player with broad capabilities across the development spectrum. Our teams in Boston and Chile have worked around the clock for the past

Demolition and (massive) excavation work is set to begin in January of 2020 with final delivery planned for mid 2023. Check out the project page and stay tuned for progress updates.