Real Estate

Pgim Real Estate Closes $460M Senior Housing Loan

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The financing covers a portfolio deal of more than 1,500 units, including three properties in Seattle. : AEW Capital Management and Merrill Gardens Senior Living have acquired a 10-property, 1,507-unit portfolio on the West Coast from Welltower. PGIM Real Estate provided $460 million in acquisition financing through a series of seven-year notes with a mix of floating- and fixed-rate terms. The portfolio includes a mix of independent living, assisted living, memory care and multifamily units, in addition to 29,000 square feet of retail space.

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