Prudential Mortgage Capital Originates $100 Million for Crocker Park.

WESTLAKE, Ohio -- Prudential Mortgage Capital Company announced today that it has originated a $100 million loan on the first phase of Crocker Park, a mixed-use town center development located near Cleveland. The borrower, Crocker Park Delaware LLC, is a joint venture between prominent Cleveland developer Robert L. Stark and members of the Carney Family. Prudential Mortgage Capital is the commercial mortgage lender of Prudential Financial, Inc. (NYSE: PRU).

The 10-year loan, which refinances an existing construction loan, is secured by approximately 393,000 square feet of retail space, 82,000 square feet of office space and 158 apartments. The street level of the property is currently 94 percent occupied and 99 percent leased to a wide array of outstanding retailers, restaurants, and entertainment tenants including Dick's Sporting Goods, Barnes & Noble, Regal Cinemas, Cheesecake Factory, H&M, Urban Outfitters, Talbots, The Gap and Trader Joe's. In all, there are more than 50 retail tenants.

"We were delighted to offer this loan to Crocker Park. This city within the City of Westlake combines shopping mall tenants with high-end retailers, theater and restaurants to create a setting similar to a traditional downtown," said Melissa Farrell, a Chicago-based principal for Prudential Mortgage Capital and originator of the transaction.

Jim Leonard and Lindee Flater of Pinnacle Financial Group, Inc., based in Cleveland, arranged the financing.

Elie Weiss, executive vice president for Robert L. Stark Enterprises said, "We could not be more pleased with the highly professional and swift manner in which this transaction was completed. It only reaffirms the great continuing relationship we enjoy with both Prudential and Pinnacle."

Specific terms of the loan were not released. The transaction closed November 23, 2005.

Prudential Mortgage Capital Company, a national full-service, commercial and multifamily mortgage finance business, originates loans for Fannie Mae DUS(TM) financing and FHA-insured programs, the capital markets, Prudential's general account, and other institutional investors. The company, with $47 billion in assets under management and administration as of September 30, 2005, offers fixed and floating rate loans; mezzanine, structured financing and interim/bridge lending; affordable housing loans and forward commitments. For more information, visit www.prudential.com/mortgagecapital.

Prudential Financial companies, with approximately $522 billion in total assets under management as of September 30, 2005, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the United States. These companies offer a variety of products and services, including life insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, securities brokerage, banking and trust services, real estate brokerage franchises and relocation services. For more information, visit www.prudential.com.