Printer Friendly

Prudential Mortgage Capital launches commercial real estate lending programme in Japan.

Byline: news@cpifinancial.net (Staff Writer)

"Having a significant insurance presence in Japan means that our source of capital is both local and long-term, making our decision to create a platform dedicated to the Japanese commercial real estate debt market a logical one," said Thor Orndahl, a Managing Director who oversees Prudential Mortgage Capital's non-U.S. mortgage platform.

The company has received approval from the Tokyo Metropolitan Government and will focus on providing senior loans at moderate leverage for income-producing multifamily, office and warehouse properties in Japan.

"Japan has traditionally been a short-term, floating rate debt market which, although not ideal for some investors, works when liquidity is high and loans are easily refinanced. We see significant opportunity in working with investors who recognise the value of matching their long-term real estate assets with long-term debt," said Tomoyuki Ishikawa, who heads Prudential Mortgage Capital's Tokyo office.

2009 CPI Financial. All rights reserved.

Provided by Syndigate.info an Albawaba.com company
COPYRIGHT 2009 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:CPI Financial
Date:Sep 27, 2009
Words:160
Previous Article:CME Group launches long-term US Treasury bond futures.
Next Article:Financial sector salaries stabilising.
Topics:


Related Articles
A superior borrowing experience.
Prudential financial.
Prudential's formula: prudential mortgage capital Co., Newark, New Jersey, is coming off of a record year in originations with just shy of $8 billion...
Prudential Mortgage has appetite for more than $10 billion in 2006.
Downturn-proof business models: many commercial and multifamily lenders are looking for multiplatform business models to weather all market...
Insurance companies retreat from commercial mortgage lending.
Industry response to TALF: thanks, but no thanks.
Life after debt: Getting to grips with the funding gap.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters