Prudential Mortgage hires Kip Kimble to originate multifamily loans in new Boston office, which opened Oct. 3

NEWARK, New Jersey , October 3, 2011 (press release) – Prudential Mortgage Capital Company today announced that Kip Kimble has joined the company’s multifamily originations team. Prudential Mortgage Capital Company is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU - News).

Kimble will focus on originating multifamily loans in markets across the United States. He will be based in the company’s Boston’s office, which opened on October 3rd.

Before joining Prudential Mortgage Capital Company, Kimble worked for Deutsche Bank Berkshire Mortgage, originating in excess of $5 billion in multifamily loans. Prior to that, he was a Vice President with the Bank of Boston. Kimble will report directly to Jim Hensley, Principal in Prudential Mortgage Capital Company’s Atlanta office.

“Kip’s extensive experience in multifamily real estate lending and loan origination will be an excellent addition to our team. His ability to leverage his knowledge of both agencies combined with Prudential Mortgage Capital’s other capital sources will prove extremely valuable to borrowers and investors,” Hensley said.

Kimble’s hire is part of Prudential Mortgage Capital Company’s commitment to expanding its originations platform and further strengthening the company’s agency relationships.

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; Prudential’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 - News), 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. Prudential’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., Prudential’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/.

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