PGIM Real Estate, the real estate investment and financing arm of PGIM, has recently provided $188 million in fixed-rate financing for The Blairs. This five-property multifamily portfolio is owned by Tower Companies and consists of a total of 1,396 units located in downtown Silver Spring, Maryland. These properties are part of a master-planned community campus and were awarded LEED Gold Certification for Operations and Maintenance in 2012.
The financing was secured on behalf of PGIM’s core lending strategy by Trevor Arnholt, vice president at PGIM Real Estate. Despite current economic challenges within the market environment, Arnholt remains confident about the potential opportunities that the multifamily industry has to offer moving into the fourth quarter.
