Prudential Mortgage Capital Closes $19.5 Million Loan for Mountain Crest

Prudential Mortgage Capital Company announced today that it has closed a $19.5 million loan on behalf of its structured loan program for Mountain Crest in Denver, Colo. Prudential Mortgage Capital is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU). Built in 1972, Mountain Crest Apartments is a 390-unit, garden-style apartment project located in Thornton, Colo. Situated on over 12 acres, the property consists of 15 three-story residential buildings, a clubhouse/leasing office and maintenance building for a total of 17 buildings. The current amenities of Mountain Crest Apartments include 549 parking spaces, an on-site fitness center, laundry facilities, three pools and a children’s playground. Of the total loan proceeds, the borrower will use $7,720,000 to make improvements to the property over the loan term. The sponsor plans to make significant capital improvements to the building systems, improve the landscaping and the exteriors of the buildings, and completely renovate and modernize the unit interiors. This three-year, fixed-rate bridge loan was originated by Jaime Zadra of Prudential’s Los Angeles office. Scott Bottles and Wayne Choi with George Smith Partners in Los Angeles served as intermediaries. Prudential Mortgage Capital Company, a national full-service, commercial and multifamily mortgage finance business, originates loans for Fannie Mae DUS™, FHA and Freddie Mac Targeted Affordable programs; the capital markets; Prudential’s general account; and other institutional investors. The company, with $56.5 billion in assets under management and administration as of September 30, 2007, offers fixed- and floating-rate loans; mezzanine, structured and bridge financing; forward commitments; affordable housing and healthcare finance. For more information, visit www.prumortgagecapital.com. Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $637 billion of assets under management as of September 30, 2007, has operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company’s well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. For more information, please visit www.prudential.com.