Prudential Mortgage has appetite for more than $10 billion in 2006

Mortgage Banking, April, 2006

Prudential Mortgage Capital Co., Newark, New Jersey, announced it has raised its appetite for business in 2006 to more than $10 billion in loans across its growing range of capital sources.

The announcement by Prudential Mortgage Capital--the commercial mortgage lending business of Prudential Financial Inc.--followed a record origination year of $9.34 billion in commercial mortgages in 2005, according to David Durning, Prudential Mortgage Capital's managing director of originations.

"In 2005 we competed against a flood of capital chasing deals, like everyone else in the industry, but our range of capital sources affords us the ability to creatively pull together deals that meet our borrowers' needs, often offering flexibility and using highly structured deals," said Durning. "We've also carved out a niche in offering loans secured by portfolios of properties, by splitting the loans among a variety of capital sources."

Prudential Mortgage Capital continues to expand its business, as it finished 2005 with 17 percent growth in its origination volume and significant growth across its major capital sources, according to Durning.