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Press release from Business Wire

Prudential Mortgage Capital provides $70 million loan for senior living portfolio in Arizona, Louisiana, Kentucky and Illinois

Wednesday, August 08, 2012

Prudential Mortgage Capital provides $70 million loan for senior living portfolio in Arizona, Louisiana, Kentucky and Illinois10:00 EDT Wednesday, August 08, 2012 ATLANTA (Business Wire) -- Prudential Mortgage Capital Company has closed a $70 million loan on behalf of a joint venture between CNL Healthcare Trust, Inc., and Sunrise Senior Living, Inc., an owner, operator and developer of senior housing, for a portfolio of five senior living residences spread across four states. Prudential Mortgage Capital Company is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU). The transaction finances five properties with a total of 517 units that include a combination of independent living, assisted living units and memory-care facilities. The properties include Sunrise of Gilbert, a 144-unit independent, assisted living and memory care residence in Gilbert, Ariz., near Phoenix; Sunrise of Metairie, a 72-unit assisted living and memory care facility in Metairie, La.; Sunrise at Siegen, a 79-unit assisted living and memory care residence in Siegen, La., near Baton Rouge; Sunrise at Fountain Square, a 142-unit independent living, assisted living and memory care residence in Lombard, Ill., near Chicago; and Sunrise of Louisville, an 80-unit assisted living and memory care residence in Louisville, Ky. “The increasing demand for senior housing combined with the high quality of these properties located in and near major metropolitan areas make this an attractive transaction,” said Karen McGinnity, a director with Prudential Mortgage Capital Company, who led the deal. “We are pleased that our financing was able to help make this transaction a reality.” “Investment in this attractive portfolio of operating assets is wholly consistent with CNL Healthcare Trust's investment objectives centered on needs-based healthcare real estate,” said Stephen H. Mauldin, president and CEO of CNL Healthcare Trust. “Prudential is a long-standing and highly valued partner to the CNL platform and its terrific work on this debt financing enabled the joint venture to execute on this opportunity in an efficient fashion.” Prudential Mortgage Capital Company is a national full-service, commercial and multifamily mortgage finance business with $72 billion in assets under management and administration as of March 31, 2012. Leveraging a 135-year history of real estate finance, the company offers one of the most comprehensive lines of real estate finance products and originates loans for Fannie Mae DUS®, Freddie Mac Program Plus® and specialized affordable housing programs; FHA; Conduit; Prudential's general account and proprietary balance sheet program; and other institutional investors. The company maintains a loan servicing portfolio of approximately $68.8 billion, as of March 31, 2012. For more information, please visit http://www.prumortgagecapital.com. Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $961 billion of assets under management as of June 30, 2012, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/ Prudential Financial, Inc.Theresa Miller, 973-802-7455theresa.miller@prudential.com