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Prudential Hiring in Wake of Partnership

""Prudential Mortgage Capital Company"":http://www.prumortgagecapital.com/businesscenter/realestate/pmcc/home/welcome.shtml has added a loan officer to its mid-Atlantic, southeast, and southwest regions with the hiring of Scott Heath. Based in the company's Atlanta office, Heath will serve as an originator of commercial, mortgage-backed loans for securitization by newly-formed Liberty Island Group.


Prudential recently announced the formation of Liberty as part of its joint venture with affiliate groups of ""Perella Weinberg Partners'"":http://www.prumortgagecapital.com/businesscenter/realestate/pmcc/home/welcome.shtml asset-based value strategy.

Heath is the second employee hired by Prudential in the wake of the collaboration, joining Curtis Brunton who was brought on in August to originate loans in the company's western region.


Heath boasts more than 10 years as a loan underwriter in the CMBS sector, having previously served as an originator with JP Morgan Chase in Atlanta. Additionally, Heath also has experience under Citicorp and Goldman Sachs in a variety of financial positions.

Mark Gleason, a principal in Prudential's Atlanta office, said of Heath's hiring, ""Scott has the depth of experience and the skill set that is critical to the success of this joint venture and Prudential Mortgage Capital Company. He will be a superb addition tot he team. We are pleased that he has joined us.""

The July initiation of Prudential's partnership with Perella targets the CMBS market by originating mortgages via Prudential's platform, while warehousing and securitizing the loans through the joint venture.

Prudential's new collaboration will restore services lost when, in 2008, the company divested its commercial mortgage securitization arm.

New Jersey-based Prudential offers full-service mortgage financing for commercial and multifamily loans and has an estimated $68 billion in total assets.

The company's line of products includes loan offerings for Fannie Mae's DUS, Freddie Mac's Program Plus, and FHA's specialized affordable programs.

About Author: Abby Gregory


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