PGIM Real Estate, the real estate investment and financing arm of PGIM, has recently closed a $188 million fixed-rate financing deal for The Blairs. This five-property multifamily portfolio is owned by Tower Companies and consists of 1,396 units located in downtown Silver Spring, Maryland. These properties are part of a master-planned community campus that received LEED Gold Certification for Operations and Maintenance in 2012.
According to Trevor Arnholt, vice president at PGIM Real Estate who led the financing on behalf of their core lending strategy: “Despite economic headwinds in the current market environment, we strongly believe in the potential that the multifamily industry holds as we move into Q4.”
The successful closing demonstrates PGIM’s expertise and commitment to providing top-notch financial solutions for its clients. With this latest transaction under their belt, they continue to solidify their position as leaders within the real estate finance sector.
