Prudential Mortgage Capital Company originated $14.6 billion in loans last year and has another $15 billion lined up for 2016.
The company provided over $12.7 billion in loans across multifamily, office, industrial and other sectors in the US and $1.9 billion internationally, including first time originations in Australia, France, Spain and a reentry into the Canadian market, as Real Estate Capital recently reported.
David Durning, CEO of the Prudential Mortgage Capital Company, said in prepared remarks that last year’s achievements showcase the company’s expertise in sourcing investments in attractive international markets and strength in multifamily lending.
“In 2016, we intend to invest in and grow Prudential Agricultural Investments, our agricultural debt and equity platform,” said Durning. “We also plan to further leverage our capabilities to meet broader investor demands, while continuing to be a significant debt source domestically in the United States.”
The company also announced that it originated nearly $3.4 billion in conventional and affordable multifamily loans across Fannie Mae, Freddie Mac and FHA and $1 billion in agricultural debt and equity investments. One such deal was a $161.3 million Freddie Mac loan to Corigin Real Estate Group for a century-old New York University student dorm at 80 Lafayette Street.
The Canadian deal was a 10-year, $148 million loan for an eight-property industrial portfolio in the Greater Toronto Area. Prudential Financial, Inc. has more than $1 trillion of assets under management as of September 30, 2015.