Prudential Mortgage Capital Closes $87.8 Million Loan For HRC Hotel Portfolio

Prudential Mortgage Capital Company announced today that it has closed an $87.8 million refinancing loan on behalf of its conduit account for HRC Hotel portfolio, a group of hotels located in Indiana, Michigan and Florida. Prudential Mortgage Capital is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU). The portfolio consists of eight hotels in Indiana, four hotels in Michigan and one hotel in Clearwater, Fla., and were all constructed between 1994 and 2007. The properties include eight Hampton Inn Hotel and Suites, four Homewoods Suites and one Baymont Inn and Suites. Prudential Mortgage Capital provided both the senior loan and subordinated debt. The senior loan was $80.1 million with a 10-year term and 30-year amortization. The mezzanine loan of $7.7 million has a 10-year term with a 10-year amortization. Andrew Aiello of Prudential’s Chicago office originated the loan and Pace Financial served as intermediary. 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.