PGIM Real Estate announces Mike McRoberts to retire in 2024; appoints Kelly Follain as future head of Agency Lending
PGIM Real Estate has promoted Kelly Follain to become head of Agency Lending.
PGIM Real Estate offers a non-recourse, core plus financing product for light transitional, light value-add, bridge and stabilized commercial real estate loans for all property types in primary and secondary markets.
We offer a variety of mezzanine and preferred equity solutions with a focus on institutional quality real estate in primary markets.
Financing the acquisition, refinancing, new construction, or substantial rehabilitation of multifamily, senior housing, and healthcare facilities, including special care – through Fannie Mae, Freddie Mac, HUD/FHA, and our Enhanced Agency Gateway Program.
We combine our farm, ranching, agribusiness, and timber backgrounds with many years of industry experience to provide a variety of loan products that aim to fit borrowers' needs in today's competitive environment.
¹Past performance is not a guarantee or reliable indicator of future performance. Note: All data refers to PGIM Real Estate financing globally unless otherwise noted.
²As of June 30, 2023, net AUM is $72.2B.
First loan originated in 1878, includes legacy lending through our parent company, Prudential Financial, Inc. (PFI)
PGIM Real Estate is the tenth largest commercial real estate lender (out of 149 firms surveyed) in terms of production based on the 2022 Mortgage Bankers Association Annual U.S. Origination Rankings published in March 2023. This ranking represents originations production volume from 1/1/22-12/31/22. Participation in the ranking is voluntary and no compensation is required to participate in the ranking.
The brand “PGIM Real Estate” encompasses both (1) a fund advisory business headquartered in Newark, New Jersey, which operates as a business unit of PGIM Inc., an SEC-registered investment adviser organized as a New Jersey corporation (“PGIM”), under the name “PGIM Real Estate”, and (2) a commercial real estate debt origination and advisory platform which operates through a separate, affiliated legal entity known as PGIM Real Estate Finance, LLC (“PGIM REF”), a Delaware limited liability company. Several officers of PGIM REF are also associated with PGIM Inc., and, from time-to-time, may provide services to PGIM Real Estate in their capacities as officers of PGIM that are separate and distinct from the services they provide as officers of PGIM REF.