PGIM Real Estate provides $141M in floating-rate financing for affordable housing portfolio in the Bronx
This affordable housing portfolio comprises 2,021 units across 34 properties, totaling 2.1 million square feet, located in the northern Bronx.
This past summer, PGIM Fixed Income welcomed a new chief global economist, Daleep Singh. While Singh held impressive credentials working as the executive vice president and head of the Markets Group at the New York Fed, at the U.S. Treasury Department and Goldman Sachs, his most recent role had the most significance on the global stage: as U.S. deputy national security advisor for International Economics and deputy director of the National Economic Council he designed the sanctions against Russia following its invasion of Ukraine.
This work landed him on the Bloomberg 50, an annual list of leaders and innovators that changed global business this year. He is named along other prominent names such as Ukrainian President Volodymyr Zelensky and tennis star Serena Williams.
This affordable housing portfolio comprises 2,021 units across 34 properties, totaling 2.1 million square feet, located in the northern Bronx.
The strategic move reinforces PGIM’s long-term partnership with National Pension Service (NPS) in South Korea, the world’s third-largest pension fund.
PGIM Real Estate has expanded its Asia Pacific portfolios by investing in quality assets with a strong focus on diversification across Japan and Australia.