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$155-Mil Loan Finances RREEF Portfolio

CHICAGO- Prudential Mortgage Capital Co. uses a $91-million securitized "A note" and $64.4-million non-securitized "B note" to finance industrial, retail, office and multifamily properties in eight markets.

By Mark Ruda | Updated on July 09, 2001

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.

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