Prudential Mortgage Capital Company had its third largest production year ever in 2011, originating close to $9.7 billion in commercial mortgages. The company hopes to provide up to $11.6 billion in financing in 2012.
Prudential Mortgage Capital, a commercial mortgage lending business of Prudential Financial Inc., (NYSE: PRU) has capitalized on a morphing global landscape that is presenting the company with new opportunities in previously unpenetrated markets where their clients, dealing with larger growth objectives due to globalization, have begun to expand their presence.
One such market is Japan, where Prudential Mortgage Capital originated 26 billion yen in new loans last year. Japan will remain a strategic focus for Prudential Financial in 2012 as the company strives to expand its insurance business there. The United Kingdom is another country of strategic interest for Prudential Financial in this year.
“Our steady growth in 2011 across all capital sources underscores the breadth of activity in the commercial real estate market as well as the recognition among our clients of our ability to provide them the variety of and quality of debt capital sources they seek,” said David Durning, senior managing director of Prudential Mortgage capital.