PGIM’s Real Estate Investment Group has provided $136.3 million in floating-rate financing to Bedrock Communities on behalf of its core-plus debt strategy for a seven-asset manufactured housing portfolio across central Florida. The portfolio comprises 1,577 sites.
Trevor Arnholt, executive director at PGIM, added, “Manufactured housing continues to play an important role in addressing housing needs across the state, and this transaction reflects our conviction in the sector. With this closing, PGIM has now provided more than $430 million in financing across five loans with Bedrock Communities over the past two years.”
Bedrock Communities is an owner and operator of manufactured housing communities in the Southeast US. Their communities provide residents with housing options that offer attainable value and well-appointed amenities.
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