PGIM Real Estate Provides Financing for Seattle MF
PGIM Real Estate has provided a total of $107.2 million in fixed-rate financing to AEW Capital Management for two multifamily properties, including one in Seattle, Washington.
Bowman Stone Way Apartments is a 278-unit community located in Seattle’s Fremont neighborhood, originally built in 2015. The $62 million loan will be used to refinance the existing PGIM mortgage. Community amenities include a rooftop deck with a fire pit, co-working spaces, and an off-leash dog park.
The transaction also included a $45.2 million loan to refinance the existing PGIM mortgage on 30Six NoDa Apartments, located in East Charlotte, North Carolina. Both properties are strategically located within their respective submarkets, offering access to strong demographics and convenient proximity to major employment centers and entertainment destinations.
“Charlotte continues to benefit from steady in-migration and economic expansion, while Seattle remains a tech-driven employment hub with limited new supply in core neighborhoods like Fremont,” said Tom Goodsite, managing director at PGIM Real Estate.
Other News
Affinius Lends $226M on Newly Completed Brooklyn Rental Tower
Affinius Capital LLC has originated a $226-million loan to refinance 55 Willoughby (marketed as House 55), a Class A, 295-unit, 43-story multifamily property with 3,200 square feet of ground-floor retail located in Downtown Brooklyn. The loan was made to a joint venture between Lonicera Partners and Rabina. Proceeds will bridge the property to stabilization early...
Learn more
Northmarq Arranges $17M Sale, $14M Acquisition Financing for Omaha MF
Northmarq’s Midwest Multifamily Investment Sales team of Parker Stewart, Anthony Martinez, Dominic Martinez and Alex Malzone, with Jim Gibson, brokered the $9.4 million sale of Southfield Apartments. The 84-unit multifamily complex was built in 1993 and is located at 7009 S 83rd St. in La Vista, Nebraska. Northmarq represented the seller, an Omaha-based private investor in...
Learn more
Boutique Arlington Heights Apartments Sell for $25M
JLL has arranged the $25 million sale of FourNorth Apartments, a 76-unit boutique apartment community in Arlington Heights, Illinois. JLL worked exclusively on behalf of the seller, Benchmark Developers, in the sale of the property to a private investor. JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Bill Baumann,...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout