Prudential Mortgage Capital Originates Almost $45 Million in Loans for

Prudential Mortgage Capital Originates Almost $45 Million in Loans for Fannie Mae

    Business Editors/Real Estate Writers

    NEWARK, N.J.--(BUSINESS WIRE)--Jan. 25, 2005--Prudential Mortgage Capital Company today announced that it has originated $44.6 million in loans for sale to Fannie Mae. Prudential Mortgage Capital is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU).
    The loans range from $1.810 million to $29.750 million and include:

--	A $29.750 million refinancing loan for Sycamore Bay, a garden apartment complex in Newark, CA. The nine-year interest loan amortizes in 30 years. Marcia Diaz of Prudential's Los Angeles office originated the loan.
--	A $1.42 million refinancing loan for Village Park Apartment, a garden apartment complex in Springfield, OR. The nine-year loan amortizes over 30 years. Yogesh Joshi of Prudential's Los Angeles office originated the loan.
--	A $3.4 million refinancing loan for Fountain Court Apartments, a garden apartment complex in Springfield, OR. The nine-year loan amortizes over 30 years. Yogesh Joshi of Prudential's Los Angeles office originated the loan.
--	A $1.810 million second trust for Highland Town Homes, a garden apartment complex in North Highland, CA. The seven-year loan amortizes over 30 years. Yogesh Joshi of Prudential's Los Angeles office originated the loan.
--	A $2.440 million refinancing loan for Kings Court Apartments, a garden apartment complex in Springfield, OR. The nine-year loan amortizes over 30 years. Yogesh Joshi of Prudential's Los Angeles office originated the loan.
--	A $5.824 million acquisition loan for Chestnut Homes, a garden apartment complex in Passaic, New Jersey. The nine-year loan amortizes over 30 years. Paul Aanonsen of Prudential's McLean, VA office originated the loan.

    Prudential Mortgage Capital Company is a national full-service, commercial and multifamily mortgage finance business, originating mortgage loans for Fannie Mae and FHA programs, the capital markets, Prudential's general account, and other institutional investors. The company, with $45.24 billion in assets under management and administration as of September 30, 2004, offers fixed and floating rate loans, mezzanine lending, structured financing, interim/bridge lending; affordable housing loans and forward commitments. For more information, visit www.prudential.com/mortgagecapital.

    Prudential Financial companies, with approximately $470 billion in total assets under management as of September 30, 2004, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the United States. These companies offer a variety of products and services, including life insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, securities brokerage, banking and trust services, real estate brokerage franchises and relocation services. For more information, visit www.prudential.com.

--30--JC/ny*

CONTACT: Prudential Financial, Inc. Darrell Oliver, 973-802-9627

KEYWORD: CALIFORNIA OREGON NEW JERSEY INDUSTRY KEYWORD: BANKING REAL ESTATE BUILDING/CONSTRUCTION MARKETING AGREEMENTS SOURCE: Prudential Financial, Inc.

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