The mortgage business of Prudential Insurance Company has financed a property portfolio in Toronto held by international real estate firm Prologis. Prudential Mortgage Capital Company has provided $195 million in permanent financing to Prologis, a 10-year loan backed by 8 properties which are leased to 16 tenants. It is a landmark move for the mortgage firm as it’s the first it has originated in Canada for 20 years, having focused on Europe and Asia-Pacific in recent years. “Prudential Mortgage Capital Company continues to grow and evolve into a truly global company with capabilities and expertise across the real estate finance spectrum, and our reentry into Canada is yet another example of this,” said the firm’s CEO David Durning, “Canadian commercial real estate markets are among the most attractive in the world with a strong demand for commercial real estate debt.”
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