Johnson Capital, Prudential Target Multifamily

IRVINE, CA-Locally based Johnson Capital and Prudential Mortgage Capital Co. have launched Prudential Johnson Apartment Capital Express, a new partnership that will originate and service multifamily loans for Freddie Mac under the GSE’s Program Plus and Targeted Affordable Loan programs. Johnson Capital president Guy Johnson tells GlobeSt.com that his firm and Prudential, which have a close working relationship, “are combining forces to have a better and more robust multifamily origination story.”

Prudential Johnson Apartment Capital Express will originate multifamily loans from $5 million and above in Arizona, California, Maryland, Washington, DC and Virginia. David Durning, senior managing director at Prudential Mortgage Capital, comments that the new partnership “not only expands our financing capabilities to Freddie Mac’s Program Plus, but also highlights our commitment to multifamily financing.” He adds, “”Our relationship with Johnson stretches more than 20 years” and that the new partnership will build on that.

Johnson points out that his firm “has been a Freddie Mac Program Plus lender for many years, and Prudential has been a robust multifamily lender for many years.” Prudential is also a targeted affordable Freddie Mac lender, he adds.