FHA/Agency Multifamily Originations Green Program
From 2019 to 2020, PGIM Real Estate’s FHA/ agency multifamily loan production through the green programs increased by 107%. In 2020, 18% of PGIM Real Estate’s total FHA/ agency multifamily originations have been through green programs compared to 15% in 2019
- 2020 was PGIM RE’s third consecutive year setting a new all-time high in multifamily lending, totaling $10.9B —led by $9.6 billion in agency financing, $3 billion in mission-driven, affordable housing, and $920 million in manufactured and senior housing.
- Fannie Mae—through its Green Rewards program and PGIM Real Estate’s agency lending program —provided its first loan on a large solar portfolio in New York City outfitted with a new Photovoltaic (PV) System, state-of-the-art LG Solar Panels, and Enphase Inverters across the portfolio.
Green Bonds
“Green bonds” are debt instruments used to finance environmental initiatives such as renewable energy efficiency projects.
In 2020, Prudential issued the firm’s first green bond with a principal amount of $500 million.
Prudential’s Green Bonds issued by Prudential on or after February 2020, please see Green Bond Report that sets out the guidelines for Prudential’s Green Bond issuances in accordance with the 2018 ICMA Green Bond Principles.