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Pgim Real Estate Arranges $482M West Coast Refi

by multihousingnews.com posted 3weeks ago 20 views
The Fannie Mae credit facilities involve six apartment properties in the San Francisco Bay Area and Seattle. : West Coast real estate developer The Sobrato Org. has scored a $482 million Fannie Mae credit facility collateralized by six apartment communities, marking one of the largest multifamily refinancing deals in recent months. PGIM Real Estate arranged the loan, which has a 10-year interest-only term. The transaction involves four properties in the San Francisco Bay Area and two in Seattle, all of them owned and operated by Sobrato, with a total of 1,223 units.

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