Prudential Mortgage Capital Company provided a $26 million Freddie Mac
loan to Edwards Companies to refinance Arlington Park Apartments, a
284-unit apartment community in Hilliard, Ohio, an affluent suburb of
Columbus, the company announced today. Prudential Mortgage Capital
Company is the commercial mortgage lending business of Prudential
Financial, Inc. (NYSE: PRU).
Completed in 2010, Arlington Park’s Class-A units include granite
countertops, brushed nickel hardware and lake views in certain
apartments. Amenities include a resort-style pool, game room, movie
theater, business center, valet dry cleaning and 24-hour emergency
maintenance.
“The quality and location of the property coupled with the strength and
reputation of the sponsor made this an attractive transaction,” said
Chuck Meyer, a principal with Prudential Mortgage Capital Company’s
multifamily originations team, who led the transaction. “We look forward
to expanding our relationship with Edwards Company and supporting their
efforts in the multifamily and student housing markets.”
Meyer, who recently joined Prudential and has 15 years of experience in
commercial mortgage and multifamily mortgage finance, noted that
Arlington Park’s location in the suburban community of Mill Run helped
make this an attractive transaction.
“The neighborhood’s walkable, urban feel and character with nearby
dining, recreation and services are some of the features that drive many
to rent today as the project’s strong occupancy since its 2010
completion,” Meyer said.
Prudential Mortgage Capital Company is a national full-service,
commercial and multifamily mortgage finance business with more than $79
billion in assets under management and administration as of March 31,
2014. Leveraging a 135-year history of real estate finance, the company
offers one of the most comprehensive lines of real estate finance
products and originates loans for Fannie Mae DUS®, Freddie Mac Program
Plus® and specialized affordable housing programs; FHA; Conduit;
Prudential’s general account and proprietary balance sheet program; and
other institutional investors. The company maintains a loan servicing
portfolio of approximately $76.7 billion, as of March 31, 2014. For more
information, please visit http://www.prumortgagecapital.com.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with
more than $1.1 trillion of assets under management as of March 31, 2014,
has operations in the United States, Asia, Europe, and Latin America.
Prudential’s diverse and talented employees are committed to helping
individual and institutional customers grow and protect their wealth
through a variety of products and services, including life insurance,
annuities, retirement-related services, mutual funds and investment
management. In the U.S., Prudential’s iconic Rock symbol has stood for
strength, stability, expertise and innovation for more than a century.
For more information, please visit www.news.prudential.com.
Copyright Business Wire 2014