Business & Finance
Business and Finance
Business and Finance
Wed, September 7, 2011
Tue, September 6, 2011 Prudential Mortgage Capital Company hires Scott Heath to originate loans in the mid-Atlantic and the south
ATLANTA--([ BUSINESS WIRE ])--Prudential Mortgage Capital Company today announced that Scott Heath has joined the firma™s Atlanta office as a loan officer covering the mid-Atlantic, southeast and southwest regions. Prudential Mortgage Capital Company is the Newark, N.J.-based commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU).
"Scott has the depth of experience and the skill set that is critical to the success of this joint venture and Prudential Mortgage Capital Company. He will be a superb addition to the team. We are pleased that he has joined us"
Heath will originate commercial mortgage-backed loans for securitization by Liberty Island Group, the recently announced joint venture between Prudential Mortgage Capital Company and affiliates of Perella Weinberg Partnersa™ Asset Based Value strategy. He is the second person hired in connection with this joint venture. On August 23rd, Prudential Mortgage Capital Company announced the hiring of Curtis Brunton to originate loans in the western region.
Heath spent 11 years as a CMBS loan underwriter and originator with JP Morgan Chase in Atlanta. Prior to that, he held various financial positions at companies including Citicorp and Goldman Sachs. Heath, who earned a bachelora™s degree from The Citadel and an MBA from the University of Florida, will report directly to Mark Gleason, a principal in the Atlanta office.
aScott has the depth of experience and the skill set that is critical to the success of this joint venture and Prudential Mortgage Capital Company. He will be a superb addition to the team. We are pleased that he has joined us,a Gleason said.
On July 8, Prudential Mortgage Capital Company and affiliates of Perella Weinberg Partnersa™ Asset Based Value strategy announced the formation of Liberty Island Group to originate commercial mortgages for future securitization. Loans will be originated through Prudential Mortgage Capital Companya™s origination platform, then warehoused and securitized by the joint venture.
The new venture enables Prudential Mortgage Capital Company to provide its borrowers with access to the commercial mortgage backed securities market without creating a new CMBS warehouse, following the divestiture of Prudentiala™s commercial mortgage securitization business in 2008.
Prudential Mortgage Capital Company is a national full-service, commercial and multifamily mortgage finance business with $68 billion in assets under management and administration as of June 30, 2011. 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; Prudentiala™s general account and proprietary balance sheet program; and other institutional investors. The company maintains a loan servicing portfolio of approximately $66.3 billion, as of June 30, 2011. For more information, please visit [ http://www.prumortgagecapital.com ].
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $883 billion of assets under management as of June 30, 2011, has operations in the United States, Asia, Europe, and Latin America. Prudentiala™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, investment management, and real estate services. In the U.S., Prudentiala™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/ ].
