PGIM Real Estate, a leading real estate investment and financing company with $210 billion in assets under management, has recently announced the provision of a $98.3 million floating-rate loan for a seven-property industrial portfolio. This strategic move is part of their core-plus lending strategy and will support capital improvements and lease-up efforts for three properties within the portfolio.
According to Michelle Liu, executive director at PGIM Real Estate who led the financing on behalf of the firm, this multi-state portfolio covers highly sought-after industrial markets that are driven by strong tenant demand. The properties are located in Chicago, Atlanta, Boston, and Bergen County NJ.
As demand for well-located and high-quality industrial buildings continues to rise nationwide,
this bridge financing enables borrowers to implement strategic capital improvements while maintaining an exceptional experience for tenants. It also aligns with PGIM’s overall debt portfolio worth $129 billion.
In summary:
– A top real estate company PGIM Real Estate has provided a significant loan amounting to $98M.
– The loan will be used towards improving 7 valuable property assets across different states.
– Michelle Liu from PGIM led this initiative which aims at enhancing tenant experiences through key market drivers.
