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PGIM Provides Two Fannie Mae Loans Totaling $111M Loan for Refinancing of Austin Apartments

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PGIM has closed a loan for the refinancing of Gables Park Plaza in Austin.

AUSTIN, TEXAS — PGIM Real Estate Finance has provided two Fannie Mae loans totaling $111 million for the refinancing of Gables Park Plaza and Gables Park Tower, two adjacent apartment complexes totaling 513 units in Austin. The borrower was Clarion Gables Multifamily Trust. Tom Goodsite of PGIM led the debt placement effort, which included the origination of a 10-year loan for Gables Park Plaza and a 12-year loan for Gables Park Tower. Both properties offer amenities such as pools, outdoor courtyards with grilling stations, sky lounges, theaters, game rooms, conference centers and bocce ball courts. Additional loan terms were not disclosed.

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