Affordable Lending

Our experienced and market savvy affordable housing team provides Fannie Mae and Freddie Mac financing for income and/or rent restricted multifamily properties.

OVERVIEW

ASSOCIATES WITH 10+ YEARS AVERAGE TENURE
54,800

AFFORDABLE HOUSING UNITS
PRESERVED

$2.6 BILLION

ASSETS UNDER MANAGEMENT

Our commitment to financing the growing affordable housing market is illustrated through our team of product, underwriting and servicing specialists. With our in-depth experience in affordable financing and our geographic market expertise we provide affordable housing to owners and developers.

Take a look below at one of our most recent affordable deals, and see how PGIM Real Estate Finance is involved with creating new opportunities in senior living.

Hotel Oakland
Video Courtesy of Fannie Mae

Typical Properties
  • Fannie Mae DUS affordable loans
  • Freddie Mac targeted affordable loans
  • Proprietary non-agency, tax-exempt bond enhancements
  • Privately-placed, unrated bonds
  • FHA affordable loans
  • Mezzanine / Structured financing for non-profits
  • Construction / Permanent financing for union-built properties
Terms
  • Loans ranging from $3 million to $300 million
  • Short-term and long-term structures
  • Other features available
PROGRAM INFORMATION

Learn more and view our term sheet

Impact Bridge Program

Prudential's Impact Investments group and PGIM Real Estate Finance are pleased to offer the Impact Bridge Program. This program provides expedited financing for the acquisition, refinance, or light repositioning of affordable housing properties. The goals of the program are to generate financial return and positive, measurable social impact.

Typical Properties
  • Conventional Multifamily
  • Manufactured Housing
  • Senior Housing
  • Structured Multi-Asset Credit Facilities
  • Student Housing
Terms
  • Early rate lock
  • Fixed and Floating Rate
  • Loans of $3M and greater
  • 5-30 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
PROGRAM INFORMATION

Learn more and view our term sheet

Affordable Lending Experts

Sources of data (unless otherwise noted) are as of 9/30/19.
With respect to loans secured by real estate located in the State of California, loans will be arranged or made pursuant to a California Financing Law License.

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