Prudential Mortgage Capital Originates $152 Million in Loan Volume

Prudential Mortgage Capital Originates $152 Million in Loan Volume

    Business Editors

    NEWARK, N.J.--(BUSINESS WIRE)--Jan. 27, 2005--Prudential Mortgage Capital Company announced today that it has recently originated $152 million in loans for its general account, conduit, Fannie Mae and FHA programs. Prudential Mortgage Capital Company is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE: PRU).

    The Conduit loans included:

--	A $3 million loan for The Aftermarket Technology Corp., an industrial office complex in Oklahoma City, OK. The 10-year loan amortizes over 30 years. Suzanne Standerfer of Prudential's Chicago office originated the loan.
--	An $18 million loan for the Terrace Apartments, a multifamily housing complex in Las Vegas, NV. The three-year floating-rate loan is interest only for the term and priced over LIBOR. Andrew Behrens of Prudential's San Francisco office originated the loan.
--	A $6 million loan for Old Marketplace, a neighborhood shopping center in Sedona, AZ. The 10-year loan amortizes over 30 years. Curtis Brunton of Prudential's San Francisco office originated the loan.
--	A $40 million loan for College Square Mall, a regional mall in Cedar Falls, IA. The 10-year loan amortizes over 30 years. Suzanne Standerfer of Prudential's Chicago office originated the loan.
--	A $10 million loan for Preston Plano Parkway, a shopping center located Plano, TX. The 10-year loan amortizes over 30 years. Paul Geyer of Prudential's Dallas office originated the loan.

    The General Account loans included:

    -- An $8 million loan for the Park Laureate office building in
    Houston, TX. The 10-year loan is interest only throughout the
    terms. Paul Geyer of Prudential's Dallas office originated the
    loan.

    -- A $16 million loan for Sunrise of Santa Monica, a senior
    living facility located in Santa Monica, CA. The seven-year
    loan amortizes over 25 years. Tom Goodsite of Prudential's
    Atlanta office originated the loan.

    -- A $3 million acquisition loan for Walgreens Macedonia, a
    retail shopping center in Macedonia, GA. The loan fully
    amortizes over approximately 12 years. Melissa Farrell of
    Prudential's Chicago office originated the loan.

    The FHA loans included:

    -- A $2 million loan for Independence Village, a 75 unit
    multifamily property in Fruita, CO. This property receives
    rent subsidies and serves the low income elderly. The 35-year
    loan amortizes over 35 years. Monica Griffith of Prudential's
    Seattle office originated the loan.

    -- A $2 million loan for Retired Tigers, an 82 unit multifamily
    property in Warsaw, IN. This property receives rent subsidies
    and serves the low income elderly. The 35-year loan amortizes
    over 35 years. Monica Griffith of Prudential's Seattle office
    originated the loan.

    The Fannie Mae loans included:

    -- A $6 million loan for Muriel Crossing, a multifamily housing
    complex in Baton Rouge, LA. The 10-year loan amortizes over 30
    years. Douglas Dear of Prudential's McLean, VA office
    originated the loan.

    -- A $16 million loan for Pleasure Bay, a multifamily housing
    complex in Long Branch, NJ. The five-year loan amortizes over
    30 years. Tom Goodsite of Prudential's Atlanta office
    originated the loan.

    -- A $22 million loan for Bradock Lee, a multifamily housing
    complex in Alexandra, VA. The five-year loan amortizes over 30
    years. Tom Goodsite of Prudential's Atlanta office originated
    the loan.

    Prudential Mortgage Capital Company is a national full-service, commercial and multifamily mortgage finance business, originating mortgage loans for Fannie Mae and FHA programs, the capital markets, Prudential's general account, and other institutional investors. The company, with $45.2 billion in assets under management and administration as of September 30, 2004, offers fixed and floating rate loans, mezzanine lending, structured financing, interim/bridge lending; affordable housing loans and forward commitments. For more information, visit www.prudential.com/mortgagecapital
    Prudential Financial companies, with approximately $470 billion in total assets under management as of September 30, 2004, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the United States. These companies offer a variety of products and services, including life insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, securities brokerage, banking and trust services, real estate brokerage franchises and relocation services. For more information, visit www.prudential.com.

--30--AC/ny*

CONTACT: Prudential Financial, Inc. Darrell Oliver, 973-802-9627

KEYWORD: NEW JERSEY INDUSTRY KEYWORD: REAL ESTATE BUILDING/CONSTRUCTION INSURANCE BANKING SOURCE: Prudential Financial, Inc.

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