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Article: Prudential Mortgage Capital Originates $30 Million Conduit Loan for Pan Med Enterprises.
- Article from:
- Business Wire
- Article date:
- October 8, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
SAN FRANCISCO--(BUSINESS WIRE)--Oct. 8, 2001
Prudential Mortgage Capital Company, a Prudential Financial company, announced today that it recently originated a $30 million refinancing loan for its conduit for Pan-Med Enterprises, a California Limited Partnership.
The 10-year loan is secured by the Pacific Professional Building, a 110,876-square-foot medical office building adjacent to the California Pacific Medical Center in San Francisco. The loan is a refinance of a general account loan made 15 years ago. Built in 1985, the building is 100 percent occupied. The loan has an amortization of 27.5 years and an interest rate of ...