[[{“value”:”
PGIM Real Estate Provides $107.2M in Multifamily Financing, Including Seattle Project
PGIM Real Estate has provided a total of $107.2 million in fixed-rate financing to AEW Capital Management for two multifamily properties, one of which is located in Seattle, Washington.
The Seattle property, Bowman Stone Way Apartments, is a 278-unit residential community situated in the city’s Fremont neighborhood. Originally built in 2015, the property will receive $62 million in financing to refinance an existing PGIM loan. Community amenities include a rooftop deck with a fire pit, co-working spaces, and an off-leash dog park.
The second component of the transaction included a $45.2 million loan for 30Six NoDa Apartments in East Charlotte, North Carolina. Similar to the Seattle property, the financing will be used to refinance an existing loan from PGIM.
Both properties are noted for their strategic locations within strong submarkets, offering favorable demographics and convenient access to employment hubs and entertainment venues.
“Charlotte continues to benefit from steady in-migration and economic expansion, while Seattle remains a tech-driven employment hub with limited new supply in core neighborhoods like Fremont,” said Tom Goodsite, Managing Director at PGIM Real Estate.
“}]]
