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Borrower Agency Hero

AgencyAgency

Financing the acquisition, refinancing or substantial rehabilitation of conventional and affordable multifamily, senior housing and healthcare facilities

  • Contact Us
  • Our 2022 Multifamily Highlights

Overview

Conventional

Long-term, permanent loans with both fixed- and variable-rate options.

Affordable

Financing for income-and/or rent-restricted multifamily properties.

Learn more

Senior Housing & Healthcare

A variety of permanent and bridge financing options.

Manufactured Housing

Financing for the purchase or refinance of manufactured housing.

Fannie Mae

  • DUS Multifamily mortgage
  • DUS/ARM Multifamily mortgage
  • DUS Affordable loans
  • Structured ARM
  • Credit facility
  • Tax-exempt bonds credit enhancement
  • Construction loan take out for LIHTC
  • Extended maturity (fixed, floating)
  • Early rate lock
  • Fixed and floating rate
  • Loans of $3 million and greater
  • 5 to 30 year loan term
  • Up to 80% LTV
  • Minimum 1.25x DSCR
  • Yield maintenance & defeasance prepayment options
  • Non-recourse except for standard commercial carve outs
  • Structured prepayment options
  • Supplemental loan program
  • Forward commitments
  • Single asset substitution option 
  • Conventional Multifamily
  • Manufactured Housing
  • Senior Housing
  • Structured Multi-Asset Credit Facilities
  • Student Housing 

Freddie Mac

  • Fixed- and floating-rate options
  • Affordable loans including bridge to resyndication and Non-LIHTC forwards
  • Fixed-to-float options
  • LIHTC 9% 
  • Structured pools
  • Green Advantage
  • Lease-up
  • Value-add
Learn more
  • Early rate lock / Early index lock
  • Fixed and Floating Rate
  • Loans of $3 million and greater
  • 5 to 30 year loan term
  • Up to 80% LTV
  • Minimum 1.25x DSCR
  • Yield maintenance & defeasance prepayment options
  • Non-recourse except for standard commercial carve outs
  • Structured prepayment options
  • Supplemental loan program 
  • Conventional Multifamily
  • Manufactured Housing
  • Senior Housing
  • Structured Multi-Asset Credit Facilities
  • Student Housing 

FHA

  • Terms of 40 and 35 years for rehabilitation and permanent loans, respectively 
  • Construction loans
  • Permanent fixed rate 
  • Affordable loans 
  • Fully amortizing, fully assumable 
  • Non-recourse 
  • Integrated construction/permanent financing 
  • Credit enhancement for tax-exempt financing 
  • Early rate lock for qualifying permanent transactions 
  • 90% LTV for affordable loans and up to 85% LTV for non cash-out
  • Customizable prepayment
Learn more
  • Multifamily Rental Housing
  • Assisted Living
  • Memory Care
  • Skilled Nursing
  • And other Senior and Healthcare Facilities

Enhanced Agency Gateway Program

  • Floating rate 
  • Interest only 
  • $5-million to $25-million loan size 
  • 12 to 36 months 
  • Non-recourse except for standard commercial carve-outs 
  • Lockout period varies from loan to loan based on stabilization plan 
  • Exit-fee waived if refinancing through PGIM Real Estate's Agency Loan Group 
  • 75% on in-place LTC; 80% on stabilized LTV 
  • 1.00x DSCR at funding on in-place income, stabilized DSCR tested by Agency
Learn more
  • Multifamily assets with renovation/rehabilitation less than or equal to 15% of total going-in cost 
  • Repair / renovation escrows funded/held back at closing with structured disbursements 
  • Strong / primary markets exhibiting or poised to exhibit near-term growth 
  • Will consider newly constructed transactions that are in lease-up 

Note: PGIM Real Estate has been ranked #9 by the FHA for fiscal year 2022 production. To read the full ranking, click here.​

* As of January 2023, Freddie Mac Multifamily ranked PGIM Real Estate the #6 overall lender by volume, the #2 lender for Manufactured Housing Communities, and #1 lender for Workforce Housing Preservation in 2022. This ranking represents originations production volume from 1/1/22-12/31/22. No compensation or submission was involved in these rankings

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Disclosure Statement (California)opens in a new window     Disclosure Statement (Japan)       Disclosure Statement (UK)opens in a new window      Disclosure Statement (Luxembourg)opens in a new window      Form CRS - PGIM, Inc.opens in a new window

For Professional Investors only. All investments involve risk, including the possible loss of capital.

The content and materials presented here are for informational and educational purposes only and should not be construed as investment advice or an offer or solicitation in respect of any products or services to any persons who are prohibited from receiving such information under the laws applicable to their place of citizenship, domicile or residence. PGIM, Inc., is the principal asset management business of PFI and is a registered investment adviser with the US Securities and Exchange Commission(SEC). Registration with the SEC does not imply a certain level of skill or training.  PGIM is a trading name of PGIM, Inc and its global subsidiaries.

In the United Kingdom, information is issued by PGIM Limited with registered office: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N 5HR. PGIM Limited is authorised and regulated by the Financial Conduct Authority (“FCA”) of the United Kingdom (Firm Reference Number 193418).  In the European Economic Area (“EEA”), information is issued by PGIM Real Estate Luxembourg S.A. with registered office: 2, boulevard de la Foire, L-1528 Luxembourg. PGIM Real Estate Luxembourg S.A. is authorised and regulated by the Commission de Surveillance du Secteur Financier (the “CSSF”) in Luxembourg (registration number A00001218) and operating on the basis of a European passport. In certain EEA countries, information is, where permitted, presented by PGIM Limited in reliance of provisions, exemptions or licenses available to PGIM Limited under temporary permission arrangements following the exit of the United Kingdom from the European Union. These materials are issued by PGIM Limited and/or PGIM Real Estate Luxembourg S.A. to persons who are professional clients as defined under the rules of the FCA and/or to persons who are professional clients as defined in the relevant local implementation of Directive 2014/65/EU (MiFID II). In Germany, this material is distributed by PGIM Real Estate Germany AG, a regulated entity by the Bundesanstalt für Finanzdienstleistungen (BaFin).

In Japan, information is provided by PGIM Real Estate (Japan) Ltd., a Japanese asset manager that is registered with the Kanto Local Finance Bureau of Japan. In Hong Kong, information is issued by PGIM (Hong Kong) Limited, a regulated entity with the Securities and Futures Commission in Hong Kong to professional investors as defined in Section 1 of Part 1 of Schedule 1 of the Securities and Futures Ordinance (Cap. 571). In Singapore, information is issued by PGIM (Singapore) Pte. Ltd., a regulated entity with the Monetary Authority of Singapore under a Capital Markets Services License to conduct fund management and an exempt financial adviser.

In Australia, information is issued by PGIM (Australia) Pty Ltd ("PGIM Australia") for the general information of its "wholesale" customers (as defined in the Corporations Act 2001). PGIM Australia is a representative of PGIM Limited, which is exempt from the requirement to hold an Australian Financial Services License under the Australian Corporations Act 2001 in respect of financial services. PGIM Limited is exempt by virtue of its regulation by the FCA (Reg: 193418) under the laws of the United Kingdom and the application of ASIC Class Order 03/1099. The laws of the United Kingdom differ from Australian Laws.

Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. PGIM, the PGIM logo and Rock design are service marks of PFI and its related entities, registered in many jurisdictions worldwide.

The information on this website is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. In making the information available on this website, PGIM, Inc. and its affiliates are not acting as your fiduciary.

©2022 PFI and its related entities.

Links

Links from this website to a non-PGIM website may be provided for the user’s convenience only. PGIM does not control or review these third-party sites nor does the provision of a link imply any endorsement of our association with such non-PGIM sites. Your linking to any websites from this website is at your own risk. To the extent that any information on this website relates to a third party, this information has been provided by that third party and is the sole responsibility of such third party and, as such, PGIM accepts no liability for such information. Subject to the terms of applicable service or other agreements, we will remove any link from this website upon request from the owner of the linked website. 

Links from this website to affiliates are provided for the user’s convenience only. Each affiliate’s website is issued or approved solely by the applicable affiliate and unless stated otherwise on such affiliate’s website, is not issued by PGIM, Ltd. or any other non-U.S. entity. Each affiliate is solely responsible for the content of its respective website. The laws governing any affiliate and its respective websites may differ from the laws governing pgim.com and the relevant website's terms and conditions and policies may differ from those of pgim.com. 

©2022 Prudential Financial, Inc. and its related entities.

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