DRA Advisors secures $103m in fixed-rate financing for 35-asset industrial portfolio

DRA Advisors has secured $103 million in fixed-rate financing for a 35-building industrial portfolio. PGIM Real Estate provided the financing on behalf of its core lending strategy. PGIM Real Estate is the $207.9 billion real estate investment and financing business of PGIM.

The industrial portfolio includes 35 assets totaling 1.2 million square feet located in Camden County, N.J., part of the Philadelphia metro area. The property is located across from the Delaware River and between the Betsy Ross and Tacony-Palmyra Bridges. Its location offers convenient access to major thoroughfares to the more than 70 tenants leasing space within the portfolio.

“We’re excited to continue to build our relationship with DRA Advisors by partnering on this industrial portfolio transaction, which aligns with the focus of PGIM Real Estate’s core lending strategy,” said Tom Goodsite, managing director at PGIM Real Estate, who led the financing on the firm’s behalf. “While the