GLP Capital Partners secures $333m in floating-rate financing for multiple California industrial properties
GLP Capital Partners has secured $333 million in floating-rate financing for the acquisition of three industrial properties in California’s Inland Empire. PGIM Real Estate, on behalf of its core-plus debt strategy, provided the financing. PGIM Real Estate is the $210 billion real estate investment and financing business of PGIM.
PGIM Real Estate provided two separate loans to GCP: a $175 million loan on a collection of newly delivered buildings and a separate $158 million loan on two existing projects.