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Article: Prudential Mortgage Capital Originates $42.6 Million Fannie Mae Loan for San Diego Apartments.
- Article from:
- Business Wire
- Article date:
- February 13, 2003
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Business Editors
LOS ANGELES--(BUSINESS WIRE)--Feb. 13, 2003
Prudential Mortgage Capital Company announced today that it has originated a $42.6 million refinancing loan on behalf of Fannie Mae for Valentia Apartments LLC. Prudential Mortgage Capital Company is the commercial mortgage loan lending business of Prudential Financial, Inc. (NYSE:PRU).
The loan is secured by the Valentia Apartments in San Diego, Calif., a 318-unit, Class A, institutional-quality garden apartment complex. The borrower is an entity controlled by J.F. Shea Co., Inc. and Shea Properties.
The 10-year loan, which closed on February 10, 2003, amortizes over 30 ...