Prudential Real Estate, Eagle River Article

The loan is secured by first mortgages on three full-service hotels totaling 813 rooms. The hotels include the Cincinnati Marriott at River Center in Covington, Ky.; the Embassy Suites Hotel Cleveland Rockside in Independence, Ohio; and the Embassy Suites Hotel Tampa-Airport/Westshore in Tampa, Fla.

The five-year cross-collateralized portfolio loan consists of a $58 million fixed-rate tranche and a $ million floating-rate tranche. The loan is interest only for the first year followed by a 25-year amortization schedule. Secured Capital Corp served as intermediary for the loan that was originated by Frederick van Overbeek of Prudential's San Francisco office.

"We are pleased to have provided Eagle Hospitality with a fixed and floating rate loan structure that addressed Eagle's need for flexible loan terms and competitive pricing" said van Overbeek.

Prudential Mortgage Capital Company, a national full-service, commercial and multifamily mortgage finance business, originates loans for Fannie Mae DUS financing and FHA-insured programs, the capital markets, Prudential's general account, and other institutional investors. The company, with $ billion in assets under management and administration as of March 31, 205, offers fixed and floating rate loans; mezzanine, structured financing and interim/bridge lending; affordable housing loans and forward commitments. For more information, visit .com/mortgagecapital

Prudential Financial companies, with approximately $496 billion in total assets under management as of March 31, 2005, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the United States. These companies offer a variety of products and services, including life insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, securities brokerage, banking and trust services, real estate brokerage franchises and relocation services. For more information, visit .com.