Prudential says ‘we feel good’ about commercial real estate

Prudential Financial Inc., the US life insurer that predicted a rebound in commercial real estate in December, said the prospect of increased property values makes mortgage originations an attractive business. “We are happy to be a real estate lender at this point,” Bernard Winograd, the insurer’s executive vice president for US businesses, said today on a conference call with investors. “We feel good about the upside opportunity for valuations relative to the downside risk.” Prudential, the second-biggest US life insurer, had about $29.6bn of commercial mortgage and other loans at the end of 2009.