Prudential Mortgage Capital Company and Johnson Capital have announced the creation of Prudential Johnson Apartment Capital Express, a strategic partnership that combines the strengths of Prudential and Johnson to originate and service loans for Freddie Mac under the Program Plus and Targeted Affordable Loan programs. Prudential Mortgage Capital is the commercial lending business of Prudential Financial Inc. "We are excited to announce this strategic partnership with Johnson Capital, which not only expands our financing capabilities to the Freddie Mac's Program Plus program, but also highlights our commitment to multifamily financing," said David Durning, senior managing director, Prudential Mortgage Capital Company. "Our relationship with Johnson has evolved over 20 years and we are confident that this new partnership will successfully build upon the exceptional track record of both firms over many years."
Prudential Johnson Apartment Capital Express will originate multifamily loans from $5 million and above in Arizona; California; Maryland; Washington, D.C. and Virginia. A full-service commercial and multifamily mortgage finance business, Prudential Mortgage Capital originates loans across capital sources. The company has provided more than $16.4 billion in multifamily mortgages over the last five years, originating more than $2.4 billion in 2009.
"Johnson Capital and Prudential have enjoyed a great 20 year relationship," said Guy Johnson, president, Johnson Capital. "This strategic partnership takes our relationship to the next logical step. We are very enthusiastic about all the financing opportunities we can now offer our multifamily clients -truly a win-win for all."
For more information, visit www.johnsoncapital.com or www.prumortgagecapital.com.