Our History Prudential has been in the commercial mortgage lending business for 130 years—a staying power more important now than ever. Clients can count on us to continue to generate new and different types of commercial mortgage loan originations, throughout various market conditions. You can trust our financing commitment. Traditional Life Company Lending 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. We also built our name as one of the largest, most successful agricultural investment managers in the country, through a wide variety of agricultural investment programs. Prudential participated aggressively in the residential building boom after World War II. By the late 1950's and early 1960's, our activities shifted increasingly to loans on commercial and industrial properties such as office buildings, shopping centers, apartments and industrial buildings. Expanded Markets and Services In the 1990s, Prudential Mortgage Capital Company participated in the early stages of the Commercial Mortgage-Backed Securities (CMBS) market. As this market developed and the business became more commonplace, we expanded our real estate lending capabilities by establishing our own commercial mortgage conduit in 1997. This program was highly successful for more than a decade, but as market conditions have continued to change and evolve; we elected to discontinue our conduit business in early 2008. We started off the 21st century with an even greater push to expand financing opportunities and deliver on our customers' needs. In 2000 we acquired a leading company in originating multifamily loans for Government Sponsored Enterprises (Fannie Mae and the U.S. Department of Housing and Urban Development). This acquisition allowed us to originate FHA loans through what is now Prudential Huntoon Paige, one of the nation's leading originators of FHA-insured multifamily loans. In addition, it authorized Prudential Mortgage Capital to participate in the Fannie Mae Delegated Underwriting and Servicing (DUS) program. We also matched our expanded lending capabilities with expanded servicing options through Prudential Asset Resources, one of the nation’s top commercial and multifamily mortgage servicing firms. Unique Market Position Today, Prudential Mortgage Capital uses a broad range of capital sources to meet a wide range of borrowers’ needs. Plus, we can apply these capital sources to create customized, highly structured deals—deals that offer great flexibility to borrowers when their needs cannot be met through a standard, straightforward approach. Our full-service regional operations located across the country allow us to conduct underwriting and closing activities right where you live and work. You can access all of our products through a single loan officer contact, helping you develop and maintain strong working relationships with us. Our business is uniquely positioned to help your business. While Prudential is known for its capacity to offer loans in excess of $250 million for large assets or more than $500 million for portfolio business, it also nimbly handles smaller deals, which represent the bulk of its business. In 2008, 80 percent were under $21 million, with nearly 50 percent issued for multifamily purposes. Prudential continues to expand its Fannie Mae program, offering over $2.1 billion in financing via this capital source in 2008. Prudential offers creative structured financing options. We creatively use our own balance sheet to develop solutions for borrowers. Prudential's capital sources include a growing list of third-party institutional clients investing in single client accounts, bridge and mezzanine loans, and a fund that provides loans for projects built by union labor. Poised for the future Going forward, Prudential Mortgage Capital Company will continue to build on its history of success, developing more solutions for borrowers and delivering consistent, responsive, credible service in an extremely competitive, changing market. Privacy Statement  |  Terms and Conditions Prudential Financial and the Rock Logo are service marks of The Prudential Insurance Company of America and its affiliates. Prudential is authorized to transact business in all U.S. states and the District of Columbia. Product availability varies by state and country. © Copyright 2009 Prudential Financial, Inc., Newark, NJ USA. All rights reserved.