Newark, New Jersey-based ""Prudential Mortgage Capital Company"":http://www3.prudential.com/businesscenter/realestate/pmcc/home/welcome.html, the commercial mortgage lending business of ""Prudential Financial, Inc."":http://www.prudential.com/view/page/public, recently appointed John DeWitt and Marty Fayer as managing directors and joint leaders of the company's Freddie Mac Program Plus platform.[IMAGE]
DeWitt and Fayer joined the company from ""Johnson Capital"":http://www.johnsoncapital.com/ with the creation of Prudential Johnson Apartment Capital Express. ""As DSNews.com previously reported"":http://dsnews.comarticles/companies-partner-to-originate-service-multifamily-loans-for-freddie-mac-2010-04-06, this platform was created under a strategic partnership between Prudential and Johnson Capital that combines the strengths of both companies to originate and service loans for Freddie Mac under the Program Plus.
Together, DeWitt and Fayer will be responsible for managing all aspects of the Prudential Johnson Apartment Capital Express Program Plus platform, includ-[COLUMN_BREAK]
ing originating new loans. Additionally, they will arrange multifamily loans on behalf of PrudentialÃ¢â‚¬â„¢s other capital sources.
""With more than 35 years of combined commercial real estate financing experience, John and Marty are industry leaders who bring expertise and a wealth of experience to our growing multifamily lending program,"" said David Durning, senior managing director and head of agency lending and originations for Prudential Mortgage Capital.
DeWitt comes to his new position at Prudential with more than 20 years' commercial real estate experience in originating and placing real estate capital for commercial and multifamily properties throughout the United States. Before joining Johnson Capital, he was a VP of production at Reilly Mortgage Group and a commercial loan representative for Perpetual Savings Bank. In addition, DeWitt previously served as a member of the Freddie Mac Program Plus advisory council.
Fayer takes on his role as managing director with more than 15 years' commercial real estate experience in originating and placing real estate capital for commercial and multifamily properties throughout the United States. Prior to his time at Johnson Capital, he was a VP of loan production at Reilly Mortgage Group and a commercial and multifamily producer for the GMAC Residential Funding Corporation's commercial conduit unit. And before that, Fayer was a multifamily underwriter in the Southeastern United States for Freddie Mac.