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CHICAGO-Prudential Mortgage Capital Co. has used a two-pronged approach to finance a RREEF America REIT II portfolio of industrial, retail, office and multifamily properties in eight markets with a $155.4-million loan. The properties include 3.7 million sf of space as well as 176 apartment units in Anaheim, Atlanta, Austin, Dallas, Phoenix and San Diego, as well as New Castle, DE and Boca Raton, FL.

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.

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