PGIM Provides $78M Green HUD Loan to Refinance Alexandria Apartment Complex
ALEXANDRIA, VA. — PGIM Real Estate Finance has provided a $78 million FHA refinancing loan to Bonaventure Realty Group for Encore Apartments, a 461-unit apartment community in Alexandria. The 35-year, fixed-rate loan is fully amortizing, non-recourse and approved for green certification through HUD’s Green MIP program. The borrower, Bonaventure, will use the loan proceeds to recover costs incurred for capital improvements. Amenities at Encore Apartments include a swimming pool, movie theater/clubroom, fitness center and free community shuttle service.