PGIM Real Estate provides $408M senior loan facility for 11-property industrial acquisition
PGIM Real Estate has provided a $408 million senior loan facility to an institutional real estate investor for 11-property industrial acquisition.
December 17, 2019 – PGIM Real Estate has sold a portfolio of 11 senior housing properties managed by Brightview Senior Living and located throughout the Northeast and Mid-Atlantic U.S. PGIM Real Estate is the real estate investment business of PGIM, the $1.2 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).
The sale was executed by SHP IV, the fourth in PGIM Real Estate’s series of dedicated closed-end funds designed to capitalize on opportunities in the senior housing sector. SHP IV closed in 2012 with approximately $569 million in commitments from institutional investors.