BUSINESS MEMO: `FOREST HILL' DEVELOPMENT

Prudential Home Buildings Investors has agreed to provide a participating loan for the development and sale of 157 single-family lots in Cape Girardeau.

The loan for the project -- to be called "Forest Hill" -- was made to Texas-based Holigan Family Investments Inc., the project's developer.

PHBI's investment is the second it has placed with Holigan. PHBI also provided a loan for a 132-lot project in Frisco, Texas.

Forest Hill will be built on a 47.6-acre site in the northeastern part of Cape Girardeau. The property is bisected by the North Sprigg extension between Lexington Avenue and Bertling Street.

PHBI, with more than $250 million in assets under management, is a unit of Prudential's Private Asset Management Group.