NEWARK-Prudential Mortgage Capital Co., the commercial mortgage lending business of Prudential Financial, is aiming to expand its healthcare and seniors housing program and has hired two healthcare specialists to lead the effort. Jeff C. Ringwald, with the title of principal, and William A. Jackson Jr., as associate, formerly of Guaranty Bank in Dallas, have been hired to grow the business.
"The increased longevity of Americans is amplifying the demand for healthcare services and health-related expenditures could reach $3.6 trillion by 2014, according to figures from the Centers for Medicare and Medicaid Services," says David Durning, managing director of loan originations for Prudential Mortgage Capital. "If actual growth matches that projection, the industry will need to find more sources of capital."
Up to this point, Prudential Mortgage Capital has mostly been originating healthcare loans through its FHA lending arm, Prudential Huntoon Paige. Both Ringwald and Jackson will be members of PMC's national accounts team and based in the firm's Dallas office. They will report to managing director Thor Orndahl here.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
