PGIM Real Estate provided $100 million in fixed-rate financing to Beacon Partners for an industrial portfolio in the Charlotte and Raleigh, North Carolina markets.
The portfolio comprises 11 fully occupied industrial properties spanning 1,550,685 square feet and one industrial outdoor storage property. Each asset is located in an infill location. The portfolio has exhibited a strong ability to maintain consistently high occupancy and generate strong rental rate growth.
PGIM’s Trace Wilson added, “These are two of the fastest-growing markets in the Southeast, with robust demand for well-located logistics and industrial space driven by population growth, infrastructure investment, and supply chain shifts.”
PGIM Real Estate says it is the world’s third-largest real estate investment manager, with $206 billion in gross assets under management and administration, and real estate professionals located in 35 cities worldwide.
The post PGIM Funds Beacon Partners Refinancing of 11 Charlotte/Raleigh Warehouses appeared first on Connect CRE.
