MIAMI—MetLife just grabbed a435,000-square-foot outdoor retail center inKissimmee, FL. Known as The Loop, the shopping complex sits inabout 57 acres at the intersection of Osceola Parkway and JohnYoung Parkway, south of Orlando's central business district.

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MetLife bought the complex from an institutional client ofAEW Capital Management. Financial terms of thedeal were not disclosed.

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"MetLife is further diversifying its real estate equity holdingsby adding a high quality retail outlet such as The Loop to ourportfolio," says Robert Merck, senior managingdirector and global head of real estate for MetLife. "We lookforward to adding more such assets to our portfolio in thefuture."

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Built in 2005, The Loop is 99% leased. Theretail center has 43 tenants, including CVS,Kohl's, Michaels Stores, Petco, Regal Cinemas and The SportsAuthority. HFF brokered the sale.

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"The Loop is one of Florida's most successful retaildestinations" says Danny Finkle, a senior managingdirector at HFF. "The combination of location,design, and tenant performance made The Loop one of the highestquality retail investment opportunities in the Southeast."

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Loop West, a 295,100-square-foot retail center in Kissimmee, FL,sold in January. O'Connor CapitalPartners sold the retail property free and clear of debtto an affiliate of North American DevelopmentGroup.

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