Prudential Mortgage Capital Becomes PGIM Real Estate Finance
- Feb 23, 2017
Newark, N.J.—Prudential Mortgage Capital Co. enters the New Year with a new name. The commercial, multifamily and agricultural mortgage lender is now PGIM Real Estate Finance, a moniker that will, for one, clearly distinguish each of the company’s 22 global offices as part of a singular entity.
The change is about more than name identity. “Our new name reflects our full investor base and global lending activities, and highlights our connection to PGIM, the trillion-dollar global investment manager of Prudential Financial,” David Durning, CEO of PGIM Real Estate Finance, told Commercial Property Executive.
The new title comes almost exactly one year after PGIM was shortened from Prudential Investment Management, a change that sparked the usage of the PGIM Real Estate Finance name for markets outside U.S. borders. Now, from one continent to the next, the mortgage lender is known as PGIM Real Estate Finance.
There’s no identity crisis here; two-decade-old PGIM Real Estate Finance’s mission is as clear as ever. The company continues to provide one of the most inclusive lines of real estate finance products, designed to accommodate the ever-changing needs of borrowers and investors. And PGIM Real Estate Finance’s role as a leading originator of loans for Fannie Mae, Freddie Mac and other affordable housing programs hasn’t changed either. “In 2016, our clients increasingly looked to us for advice, relying on our ability to finance projects through a variety of loan products that enhance investors’ opportunities as they seek yield, while navigating globally uncertain markets,” Durning said in a prepared statement.
PGIM Real Estate Finance has even more on tap for 2017; the company has as much as $15 billion to lend to lend to borrowers this year.