Prudential Mortgage Capital Originates More Than $118 Million in Loan

Prudential Mortgage Capital Originates More Than $118 Million in Loan Volume

    Business Editors/Real Estate Writers

    NEWARK, N.J.--(BUSINESS WIRE)--March 10, 2005--Prudential Mortgage Capital Company announced today that it has recently originated $118.3 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 $4.4 million loan for Omni Student Housing in Provo, Utah. The seven-year loan amortizes over 10 years. Western Capital Realty Advisors arranged the loan, which was originated by Curtis Brunton of Prudential's San Francisco office.
--	A $10.1 million acquisition loan for Brooklyn Place Apartments, a 204-unit multifamily apartment complex built between 2002-2004 in Evansville, Ind. The seven-year loan amortizes over 30 years. Johnson Capital Group was the PruEXPRESS Advisor on the transaction, which was originated by Marcia Diaz of Prudential's Los Angeles office.
--	$17.2 million refinancing loans for Sam Moon Centers in San Francisco, California and Dallas, Texas. The 15-year loans are fully amortizing. Realty America Group arranged the loans, which were originated by Scott Frank of Prudential's Dallas office.
--	A $4.2 million loan for Kerrville Country Club Plaza, in Kerrville, Texas. The 10-year term, 30-year amortizing loan was fully funded and structured with a one-year holdback for construction of an out parcel. SGI Capital served as intermediary on the loan, which was originated by Paul Geyer of Prudential's Dallas office.
--	A $3.2 million loan for Crossroads Office Park, a 42,834 square foot two-story suburban office complex consisting of two buildings. The complex was built in 1979 in Bellevue, Wash. The 10-year loan amortizes over 30 years. Northwest Commercial Mortgage was the PruEXPRESS Advisor on the transaction, which was originated by Gary Wong of Prudential's San Francisco office.
--	An $8 million loan for Office Depot Warehouse, an industrial warehouse complex in Cincinnati, Ohio. The 10-year loan amortizes over 30 years. Fifth Third Bank arranged the loan, which was originated by David Graham of Prudential's Chicago office.

    The general account loans included:

    -- A $10 million acquisition loan for Brookgate, a neighborhood
    Shopping Center in Brook Park, Ohio. The 12-year loan is
    interest only for the first six months followed by a 25-year
    amortization schedule. Pinnacle Financial was the PruEXPRESS
    Advisor on the transaction, which was originated by Melissa
    Farrell of Prudential's Chicago office.

    -- An $11 million loan for the Paramount Hotel. Built in 2000,
    the Paramount is full-service 154-room hotel in downtown
    Portland, Ore. The 10-year loan amortizes over 25 years.
    Northwest Commercial Mortgage was the PruEXPRESS Advisor on
    the transaction, which was originated by Gary Wong of
    Prudential's San Francisco office.

    The FHA loans included:

    -- A $6 million refinancing loan for Carelton Village, a 240-unit
    apartment complex in Galveston, Texas. The 30-year loan
    amortizes over 30 years. D. Ansley Company originated the loan
    as a correspondent to Carmen Holley of Prudential's Denver
    office.

    The Fannie Mae loans included:

    -- A $26.1 million acquisition loan for Arbor View, a 450-unit
    garden apartment complex built in 1966 in Temple Hills, Md.
    The nine-year Fannie Mae DUS(TM) fixed-to-floating rate loan
    amortizes over 30 years. The highly structured loan was
    originated by Paul Aanonsen of Prudential's McLean, Va. Office
    for an affiliated entity controlled by DC-based Federal
    Capital Partners and Angelo, Gordon & Co.

    -- A $12.6 million acquisition loan for an AEW-sponsored entity,
    VIF Summer Oak, a 400-unit apartment complex in Jacksonville,
    Florida. The five-year loan is interest only throughout the
    term. Tom Goodsite of Prudential's Atlanta office originated
    the loan.

    -- A $5.5 million refinancing loan for Waterford Park, a 264-unit
    garden apartment complex in Tyler, Texas. The nine-year DUS
    fixed-to-floating rate loan amortizes over 30 years.
    Providence Mortgage served as investment intermediary on the
    loan.

    Prudential Mortgage Capital Company, a national full-service, commercial and multifamily mortgage finance business, originates loans for Fannie Mae DUS financing and FHA-insured programs, the capital markets, Prudential's general account, and other institutional investors. The company, with $46.5 billion in assets under management and administration as of December 31, 2004, offers fixed and floating rate loans; mezzanine, structured financing and interim/bridge lending; affordable housing loans and forward commitments. For more information, visit www.prudential.com/mortgagecapital
    Prudential Financial companies, with approximately $500 billion in total assets under management as of December 31, 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--SS/ny*

CONTACT: Prudential Darrell Oliver, 973-802-9627

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

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