MetLife Investment Management has tapped a Blackstone executive to lead its real estate and agricultural finance group.
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Andrea Drasites, most recently a senior managing director in Blackstone’s real estate group, will oversee MetLife IM’s $108.9B commercial mortgage, real estate equity and agricultural investments portfolio, the insurance giant’s asset management arm announced. She will start Oct. 1.
MIM President Brian Funk said in a statement that Drasites will help further grow the real estate team following the business’ acquisition of PineBridge Investments. The $1.2B deal closed in December.
The combined firm has $741.7B in total assets under management.
“I’m thrilled to be joining MIM at such a pivotal moment and look forward to working with the team to build on the platform’s success and leverage the firm’s scale to drive even more opportunities for clients worldwide,” Drasites said in a statement.
At Blackstone, Drasites is responsible for the company’s U.S. digital infrastructure, retail, gaming, and trade show investments, including QTS, DLR, Phoenix Towers, ShopCore, Edens and International Market Centers.
Prior to spending 13 years at Blackstone, Drasites held senior roles at Equity One and Woolbright Development.
Drasites succeeds Robert Merck, who retired last year.
In recent months, MIM sold the InterContinental New York Times Square for $230M and a Chino, California, shopping center in January for $138M.
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