Prudential Mortgage Capital Co. In First Continental European Deal

Posted by Orb Staff on April 02, 2013 No Comments
Categories : Commercial Mortgage

13572_euro Prudential Mortgage Capital Co. In First Continental European Deal London-based Prudential Mortgage Capital Co. has provided $72 million of a total $91.5 million financing package in the Netherlands, its third commercial real estate loan since launching its European business in 2012 and its first in continental Europe.

The loan is secured by a portfolio of six warehouse properties spread throughout the Netherlands and owned by W.P. Carey Inc., a U.S.-based real estate investment trust. The properties are leased to C1000, a national supermarket chain recently acquired by Jumbo to form the second-largest grocer in the Netherlands.

‘Many commercial property owners across Europe are looking to broaden their sources of capital as dislocation in the real estate finance market continues,’ says Thor Orndahl, a managing director who oversees Prudential Mortgage Capital Co.'s non-U.S. mortgage platform. ‘Industrial warehouse is a preferred asset type of ours globally, and gaining exposure to Dutch and German distribution remains an important strategic objective.’

Prudential Mortgage Capital Co. is the commercial mortgage lending business of Prudential Financial Inc.

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