NEWARK, N.J., Nov. 21, 2025 – PGIM’s real estate business has provided $140.5 million in floating-rate financing on behalf of its core strategy for the acquisition of a national industrial cold storage portfolio totaling approximately 853,000 square feet.
The financing supports the acquisition of the portfolio by Artemis Real Estate Partners alongside operating partner Provender Partners, a firm specializing in the cold storage sector. The six-facility portfolio is spread across major metropolitan areas including Boston, Philadelphia, Orlando and Tampa, Fla., and California’s Inland Empire. Tenants within the food-distribution sector lease these specialized cold storage facilities, which serve as critical infrastructure for the nation’s food supply chain.
“Cold storage continues to demonstrate strong fundamentals, driven by durable demand from food distributors and retailers as well as the continued expansion of e-commerce grocery channels,” said Trevor Arnholt, executive director for PGIM’s real estate business. “This transaction reflects our confidence in the sector’s long-term growth potential and highlights PGIM’s ability to deliver tailored financing solutions to experienced sponsors.”
ABOUT PGIM
PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU) is built on a 150-year legacy of strength, stability, and disciplined risk management through more than 30 market cycles. Managing $1.5 trillion in assets1, PGIM offers clients deep expertise across public and private asset classes, delivering a diverse range of investment strategies and tailored solutions—including fixed income, equities, real estate and alternatives. With 1,400+ investment professionals across 41 offices in 20 countries, we serve retail and institutional clients worldwide. For more information, visit pgim.com.
PGIM’s real estate business is the world’s third-largest real estate investment manager, with $216 billion in gross assets under management and administration,2 and real estate professionals located in 30+ cities worldwide. Through our full suite of real estate equity and debt solutions, we aim to achieve exceptional outcomes on behalf of investors and borrowers. Our uncompromising commitment to building lasting relationships with our clients is founded on trust, transparency, and mutual respect.
Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.
1 As of September 30 2025.
2 As of September 30, 2025, AUM reflected as gross. Net AUM is $139B and AUA is $49B. PGIM’s real estate business is the third-largest real estate investment manager (out of 72 firms surveyed) in terms of global real estate assets under management based on Pensions & Investments’ “Largest Real Estate Investment Managers” list published October 2024. This ranking represents AUM as of June 30, 2024. Participation in the ranking is voluntary, and no compensation is required to participate in the ranking.
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