Insurance company investment in agriculture
Forestar Group Inc. senior secured loan secured by timberland in Georgia, Alabama, Texas and other company assets. Forestar Group Inc is a publicly traded real estate and natural resources company headquartered in Austin, Texas.
NORPAC Foods, Inc. first mortgage secured by processing and cold storage facilities in Oregon and Washington. NORPAC Foods, Inc. is a processor and marketer of high quality branded and private-label canned and frozen food products.
American Cold Storage-North America, L.P. first mortgage was secured by warehouse/distribution facilities located in Indiana, Kentucky and Tennessee. American Cold Storage operates public refrigerated storage warehouses and offers services in the areas of handling, storage and processing/freezing.
“We think 2013 will offer substantial opportunities for agricultural mortgage lending. Our 96-year track record of investing in the agricultural sector and our commitment to superior customer service will help drive our success this year and beyond,” said Merck.
MetLife has provided agricultural financing since 1917 and is a global provider of insurance, annuities and employee benefit programs, serving 90 million customers. Through its subsidiaries and affiliates, MetLife holds market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.