Prudential Mortgage Capital Originates $8.7 Million Mortgage Loan With RSV Twinsburg Hotel Ltd.Business Editors CHICAGO--(BUSINESS WIRE)--Aug. 27, 2001 Prudential Mortgage Capital Company, a business of The Prudential Insurance Company of America, announced today that it recently originated an $8.7 million commercial mortgage loan for its conduit to RSV RSV respiratory syncytial virus; Rous sarcoma virus. RSV abbr. respiratory syncytial virus RSV 1 Respiratory syncytial virus, see there 2 Rous sarcoma virus, see there Twinsburg Hotel Ltd. The loan is secured by Hilton Garden Inn-Cleveland/Twinsburg, a 142-room, full-service hotel in Twinsburg, Ohio Twinsburg is a city in Summit County, Ohio, United States, a suburban city about halfway between Akron and Cleveland. The population was 17,006 at the 2000 census. Geography Twinsburg is located at (41.324122, -81. . The hotel, which has 93,365 square feet of space, was built in 1999. The PruEXPRESS Advisor on the financing is Steve Sweress of Pinnacle Financial Group in Cleveland, Ohio "Cleveland" redirects here. For the Cleveland metropolitan area, see . For other uses, see Cleveland (disambiguation). Cleveland is a city in the U.S. state of Ohio and the county seat of Cuyahoga County, the most populous county in the state. . The loan consists of a 10-year term, followed by 25-year amortization schedule at an interest rate of 8.05 percent. Melissa Franklin was Prudential's mortgage originator. Prudential Mortgage Capital Company is a national full-service, commercial mortgage finance business, originating mortgage loans for Fannie Mae Fannie Mae: see Federal National Mortgage Association. and FHA See Federal Housing Administration. FHA See Federal Housing Administration (FHA). programs, the capital and high-yield markets, Prudential's general account, and other institutional investors. As of December 31, 2000, Prudential Mortgage Capital had a combined servicing portfolio of $32 billion. The Prudential Insurance Company of America, with approximately $593 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. and administration as of December 31, 2000, is among the largest financial services institutions in the world and one of the largest life insurance companies in the United States. Prudential Financial serves millions of individual and institutional customers worldwide and offers a variety of products and services, including life insurance, property and casualty insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, securities brokerage, real estate brokerage franchises and relocation services. Prudential Financial is a service mark of Prudential, Newark, NJ, and its affiliates. |
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