Consumer Lending, Housing Market

Prudential Mortgage provides $15.8 billion in financing in 2013

PrudentialPrudential Mortgage Capital Co. announced on Monday that it provided $15.8 billion in financing in 2013, a 30 percent increase from 2012’s $12.2 billion.

The $15.8 billion in financing includes $1.2 billion for new loans in Europe and Japan, of which $848 million was originated by the London office in Europe, $2.2 billion in conventional agency loans, $913 million in CMBS loan originations and $9 billion in general account loans.

“Being one of the few lenders with the ability to provide capital through a diverse platform combined with our relationships across the industry really drove last year’s record production,” Prudential CEO David Durning said. “Notably, a key driver for us in 2013 was a significant expansion in Europe and Japan thanks to a growing demand for longer term capital. Europe alone accounted for more than $800 million, including our first ever loan in The Netherlands. In 2014, continued international growth will be a priority along with our portfolio program in the U.S., our CMBS program and our Agency Gateway Program for multifamily properties.”

Prudential Mortgage Capital Co is a multifamily mortgage finance business with over $76 billion in assets as of Sept. 30.

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