NEWARK, N.J., Aug. 26, 2025 – PGIM’s real estate business has provided $619 million in fixed-rate financing on behalf of its Agency lending platform to HHHunt Corporation, LLC for a 15-asset multifamily portfolio across the Southeast U.S.
The financing was strategically structured into two portfolios — one with Freddie Mac and the other with Fannie Mae — comprising a 10-Pack ($412.771 million) and a 5-Pack ($206.16 million). By closing the 10-Pack first, PGIM generated cash-out proceeds that funded the cash-in requirements of the 5-Pack, which closed one week later. This sequencing enabled the borrower to re-lever their portfolio while achieving a cash-out at final closing.
The properties are a mix of mid-rise and garden-style multifamily apartments, and are located across North Carolina, South Carolina, Virginia, Maryland, Tennessee and Georgia. The total number of units is 4,237 and vintage across the portfolio ranges from 2001 to 2023.
“Our team appreciates the opportunity to have led the structuring and execution of this important financing for HHHunt. This transaction showcases the power of PGIM Real Estate’s Agency platform and our ability to deliver innovative solutions by leveraging both Fannie Mae and Freddie Mac,” said Lee McNeer, executive director for PGIM’s real estate business. “The two-step portfolio structure allowed us to unlock significant value for the Borrower, and it’s a testament to the collaboration and creativity of all parties involved.”
“PGIM delivered exactly what we needed. Lee McNeer and his team gave us clear options, the right strategy, and flawless execution. The Freddie Mac and Fannie Mae solutions let us unlock portfolio equity, secure long-term stability, and hit our risk targets — all on schedule. We’re stronger today because of this partnership,” said Brian Myers, vice president of finance, HHHunt Corporation.
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 more than $1.44 trillion in assets,1 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 other retail investment vehicles. With 1,450+ investment professionals across 42 offices in 19 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 $213 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.
ABOUT HHHUNT CORPORATION
HHHunt opened its first apartment community in 1966 in Blacksburg, Virginia. Today, HHHunt Apartment Living owns and manages over 8,600 apartment homes in Virginia, North Carolina, Tennessee, Georgia, South Carolina and Maryland, with another 1,580 units under development. The company is at the forefront of innovation in multifamily development and management with communities that boast superb locations, spacious apartments and luxury amenities. To learn more about HHHunt Apartment Living, visit hhhuntapartmentliving.com.
1 As of June 30, 2025.
2 As of June 30, 2025. Net AUM is $138 billion and AUA is $47.5 billion. PGIM Real Estate 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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