PGIM Real Estate recently closed a $75 million refinancing loan for a 338-unit, Class A apartment complex located in Glenvar Heights, just 10 miles southwest of Downtown Miami. The loan was provided to a joint venture between AEW Capital Management and ZOM Living.
The property boasts numerous amenities including a parking garage with over 450 spaces, electric car stations, and various community features such as a pool, fitness center, dog park, game room and clubroom. Additionally,the complex includes 4,600 square feet of retail space featuring an on-site brewery.
According to Tom Goodsite from PGIM Real Estate: “The property has experienced high occupancy rates since its opening thanks to its convenient location near Downtown Miami’s entertainment options and easy access to parks,t ransit stations,and retail establishments.”
This recent financing deal highlights PGIM’s expertise in the real estate market as they continue to secure successful deals for their clients.
