Prudential Mortgage closes $100M client loan for retail properties

Prudential Mortgage closes $100M loan

NEWARK, N.J. — Prudential Mortgage Capital Co. said Thursday it closed a $108 million loan allowing a client to buy several properties in six states owned by real estate investment trust Kimco Realty Corp.

The properties include retail centers in Florida, New Hampshire, New Jersey, North Carolina, Pennsylvania and Texas.

Constructed between 1967 and 2002, the properties total more than 1.5 million square feet.

Prudential Mortgage Capital is the commercial mortgage lending business of Prudential Financial Inc.

Shares rose 12 cents to $51.14 in afternoon trading.