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Why 399 Fremont Costs Big Bucks

San Francisco

Spending $317M is a tough decision (even if it's on the last PS4). So we checked in with MetLife global head of real estate Robert Merck, who's teaming with UDR to build a high-rise residential development in San Francisco at 399 Fremont. 

The $317M project "fits directly into MetLife's long-term strategy" to expand its investment in the top markets in the US, Robert tells us. The JV with UDR allows the company to further diversify its real estate portfolio, he adds. MetLife will have a 49% share. The 42-story building will have 447 residential units and should debut in 2016. (Or they could pull a Beyonce and build it tonight.) There will also be 3,500 SF of retail and amenities like an observation deck, pool, and pet care center.