**PGIM Real Estate Provides $71.17 Million Loan for Seattle Multifamily Property, The Victor**
PGIM Real Estate has announced the provision of a $71.17 million fixed-rate Fannie Mae loan for The Victor, a newly constructed multifamily property located in Seattle, Washington.
The financing was arranged through Fannie Mae’s near-stabilization execution program as a construction take-out loan. The Victor comprises 227 residential units offering modern finishes and features such as hardwood-style plank flooring, stainless steel appliances, air conditioning, oversized windows, and open-concept layouts.
Strategically situated at 1100 Boylston Avenue, The Victor is positioned at the intersection of Seattle’s First Hill and Capitol Hill neighborhoods. The central location provides residents with high walkability and easy access to local dining, shopping, and entertainment options.
Elizabeth Velazquez, Executive Director of Originations at PGIM Real Estate, expressed optimism about the project’s outlook:
“We are excited to provide financing for The Victor, a high-quality multifamily development in one of Seattle’s most sought-after neighborhoods. As the community approaches stabilization, we anticipate strong demand driven by the property’s modern amenities and its unparalleled location, positioning it for strong, long-term performance.”
The investment underscores PGIM Real Estate’s continued support for high-quality, strategically located multifamily projects in core urban markets.
