Community and Affordable Housing Investments
MetLife Investment Management is committed to investing in affordable housing projects that bring significant tangible benefits to our communities.
In 2017, we made investments of more than $200 million in community and affordable housing initiatives, including U.K. social housing projects, bringing our portfolio to $2.4 billion.
In 2017, MetLife committed $7 million in the first closing of SIMA Off-Grid Solar and Financial Access Senior Debt Fund I. The fund will advance the financial innovations to accelerate the adoption of off-grid solar energy. The fund lends to both solar energy companies and microfinance institutions serving low-income people in Africa and South Asia.
We are a long-time investor in affordable rental housing for low-income households in the United States. These investments are facilitated by the federal Low-Income Housing Tax Credit under Section 42 of the U.S. tax code. The high-quality rental housing created through these investments is affordable to households earning less than 60 percent of an area’s median income.
We continue to support social housing providers in the United Kingdom and its overseas territories by investing in nonprofit organizations that provide rental homes at below-market rents to low-income earners, including teachers, nurses, council workers, the elderly and infirm.
