PGIM Real Estate has provided $455 million in fixed-rate financing for an eight-building industrial portfolio totaling approximately three million square feet located across Los Angeles County, Orange County, and the Inland Empire. Brian Halpern from JLL Capital Markets in Los Angeles brokered the transaction. The buildings range in size from 50,000 to 900,000 square feet and are all situated close to major freeways making them highly accessible and desirable for tenants.
Trent Brown of PGIM Real Estate commented on their core lending strategy saying “We remain bullish on the industrial asset class despite headwinds in some real estate sectors and parts of the greater economy”. Alere Property Group’s 786 Central Ave., San Bernardino is pictured above as part of this portfolio acquisition by PGIM Real Estate.
