PGIM Real Estate
Work Begins on Final Wade Park Office Building in Raleigh
Developer Dominion Realty Partners has once again teamed up with Prudential Global Investment Management for the construction of Wade V, which will take some 20 months to complete.
PGIM Sells Inland Empire Office Building
Greenlaw Partners purchased One Piemonte, a nearly 125,000-square-foot Class A building, for $29.5 million. The buyer funded the acquisition with a $19.2 million loan.
KKR, Parkway Properties Buy 522 KSF Miami Office Tower
The joint venture partners purchased the 30-story building in the city’s central business district from PGIM Real Estate, which had owned the property since 2013.
Stiles Wraps Up $2M Ft. Lauderdale Office Revamp
The 10-month transformation included upgrades to the lobby, elevators and facade, as well as a series of newly added interior features.
Houston Office Asset Lands $92M Refinancing
The note, secured by HFF and held by PGIM Real Estate, matures after three years and has a variable interest rate.
PGIM Real Estate’s Net-Zero Milestone
A Silicon Valley office property is the first asset owned by an institutional investor to earn a place in the New Buildings Institute’s registry.
CMBS’s Coming Headwinds
The CMBS market is well positioned for another stable year, but at this late stage in the current cycle, the market faces a number of challenges.
Irgens Snags $80M Financing for Milwaukee Office Tower
Walker & Dunlop Capital Markets secured the non-recourse loan for 833 East Michigan, a 359,000-square-foot, LEED Silver-certified building in the city’s central business district. Completed in 2016, the 17-story lakefront property became the first significant downtown office development in almost a decade.
Terrafina Renegotiates $300M Credit Facility
The new facility extends maturity and includes lower interest rates. Credit amount will be lower, although it could increase.
Irvine Buys San Diego Office for $105M
The Gateway at Torrey Hills is a nearly 200,000-square-foot, Class A asset, which is home to tenants from various industries.