PGIM Inc. Provides $129M Refinancing for Philadelphia Industrial Center
Deal News | Nov 18, 2024 | PGIM Inc
PGIM Real Estate, a branch of PGIM Inc., has provided $129 million in refinancing for an industrial center located in Cinnaminson, New Jersey, a suburb of Philadelphia. The property, which comprises a Class A industrial building, spans approximately 1.2 million square feet. This financial maneuver underscores PGIM's strategic interest in industrial assets, indicative of the ongoing robust demand for such properties, especially those close to major urban centers.
Sectors
- Real Estate
- Industrial
- Finance
Geography
- United States – The industrial property being refinanced is located in New Jersey, a suburb of Philadelphia, which is in the United States.
- Philadelphia – The article mentions the industrial center as being in a suburb of Philadelphia, making it relevant to this geographical classification.
Industry
- Real Estate – This article involves a real estate financial transaction by PGIM Real Estate for an industrial property.
- Industrial – The article discusses the refinancing of an industrial center, a segment of the real estate industry focusing on facilities that support industrial operations.
- Finance – The deal involves a substantial financial transaction ($129M refinancing), which is a key aspect of the finance industry.
Financials
- 129000000 – The amount provided by PGIM Real Estate for refinancing the industrial center.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PGIM Real Estate | PE Firm providing refinancing | Company | PGIM Real Estate is part of PGIM Inc., a global real estate investment business involved in this refinancing deal. |