PGIM has provided $288.4 million in floating-rate refinancing on behalf of its core-plus strategy for an eight-asset industrial portfolio across the United States.
The properties comprise 3.6 million square feet and are located in Lehigh Valley, Pa.; Columbus and Cincinnati, Ohio; Indianapolis; Chicago; northern New Jersey; and Atlanta.
“We are pleased to provide financing for this high-quality industrial portfolio,” said Michelle Liu, executive director for PGIM’s Real Estate Investment Group who led the financing on the firm’s behalf. “This transaction reflects our continued focus on providing flexible capital solutions for well-positioned industrial assets. The portfolio benefits from strategic locations, strong tenant demand, and favorable supply/demand dynamics that support long-term value creation and stable cash flows.”
