PNC Bank 2004 Annual Report Download - page 20

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18 2004 PNC Summary Annual Report
MULTI-FAMILY, MULTI-PRODUCT
At PNC Real Estate Finance, providing a full range
of financing solutions is more than just a claim.
Royal Castle Companies learned that first hand as
the developer searched for a lender to finance
the construction of a 288-unit affordable housing
development in Miami.
From pre-development financing to a finished product, the Villas del Lago
project was served by a creative combination of financing solutions from
the array of debt and equity products offered by PNC Real Estate Finance.
These products and services, from $2 million in pre-construction financing
to a $9 million construction loan to $13 million in equity financing, were
combined into a package that resolved a highly complex financing challenge
for Royal Castle.
Royal Castle was one win among many in 2004 for PNC Real Estate Finance.
Total commercial real estate and related loans increased to $3.5 billion in
2004, a 6 percent increase, even as we maintained our prudent approach to
risk management. The forces of improving commercial real estate market
conditions and a growing PNC business unit combined to create momentum
for our real estate finance business as it moved into 2005.
0
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4Q
04
3Q
04
2Q
04
1Q
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4Q
03
WHOLESALE BANKING
AVERAGE DEPOSITS
$ billions
At quarter end