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SAN FRANCISCO — PGIM Real Estate, the San Francisco-based real estate investment and financing business of PGIM, has arranged a $259 million Fannie Mae credit facility addition secured by six multifamily properties on the West Coast. The borrower is The Sobrato Organization.
The properties, totaling 1,141 units, are located in suburban West Coast locations benefiting from strong regional demographics and proximity to major employment nodes, according to PGIM.
Natalia Todorov, Lauren Kiesel, Elizabeth Velazquez and A.J. Hamer of PGIM handled the transaction. Further details were not disclosed.