Prudential Mortgage Capital created a $91-million "A note," rated AAA by Moody's and Fitch, which will be securitized. A $64.4-million "B note" will be held by The Prudential Insurance Company of America's general account.
"This loan structure allows us to employ our broad range of capital sources to provide RREEF with a loan package that has the pricing advantages of the capital markets and the kind of flexibility normally afforded to portfolio loans," says David Durning, managing director for loan originations at Prudential Mortgage Capital.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
