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PGIM Provides Record $18B in Financing in 2018

Chicago-based PGIM Real Estate Finance originated a record $18.1 billion in financing in 2018, led by record production in multifamily and core-plus lending. The commercial mortgage finance business of PGIM Inc. has as much as $18 billion available for financing in 2019, and will look to target growth in the agency business, industrial loans, international lending, and core-plus opportunities.

 David during headshot

David Durning

The group’s overall debt lending and agriculture investment production increased 22% over its prior-year totals. The increases included significant growth in the company’s agency lending business, international originations and core-plus lending.

PGIM’s David Durning says, “In 2019, we expect strong commercial real estate fundamentals to continue, supported by steady economic growth and investor discipline, while continuing to focus on finding loans along the core to core-plus continuum in the U.S., Europe, Australia and Japan.”

2018 financing highlights include:

  • A record $6.2 billion in conventional and affordable multifamily loans on behalf of Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA)
  • $16.7 billion in U.S. multifamily, industrial, office, retail and other sectors
  • $878 million in agricultural debt
  • $980 million in core-plus financing
  • $1.4 billion in international markets, such as Australia, Canada, Japan, the U.K. and other European nations

*Pictured Link Apartments Linden in Chapel Hill, NC

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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