Our first mortgage loans were on three properties just blocks from the original Prudential offices in downtown Newark, NJ. Historically, we did traditional life company/portfolio lending from Prudential's General Account, investing billions of dollars annually in commercial mortgages on behalf of our own investment portfolios.
Today, Prudential Mortgage Capital Company's Tokyo Branch is actively extending commercial mortgage loans on behalf of Japanese life insurance companies of Prudential Financial, Inc. through "Prudential Mortgage Asset Holdings 1 Japan
Investment Business Limited Partnership" (Tokyo Metropolitan Government (3) 31253), and "Prudential Mortgage Asset Holdings 2 Japan Investment Business Limited Partnerships" (Tokyo Metropolitan Government (1) 31517) (together, the "Partnerships"). Our loans, provided through the Partnerships, are primarily long-term, fixed-rate or floating-rate under customized structures that offer great flexibility to our borrowers. We are confident that our products are well perceived and highly valuable for borrowers in the Japanese real estate market.