PGIM Extends $333M Loan to GLP for Inland Empire Industrial Properties

By: Sharjeel Sohaib

• 

Oct 2, 2023

 • 

Utilize Our Platform

In a strategic move to spur growth in the Southern California industrial real estate market, PGIM Real Estate provided a substantial $333 million floating-rate financing to GLP Capital Partners Inc. (GCP). GCP will use the amount to acquire three industrial properties in the Inland Empire region.

The transaction follows PGIM Real Estate’s recent $455 million loan to Alere Property Group for an eight-building industrial portfolio, reaffirming the company’s firm conviction in the industrial sector.

Diverse Financing Approach

PGIM Real Estate took a multifaceted approach to support GCP’s expansion. The financing comprises two separate loans: a $175-million loan for a collection of newly delivered buildings and a $158-million loan for two existing projects. This diversified approach reflects PGIM’s commitment to adapting its financing strategies to meet the specific needs of its clients.

Southern California’s Industrial Boom

The Inland Empire has emerged as a hotbed for industrial real estate, benefiting from its strategic location and strong demand for logistics and distribution centers. PGIM’s financial backing of GCP’s acquisition underscores the attractiveness of this region for investors seeking long-term growth prospects.

PGIM’s Core-Plus Strategy

PGIM Real Estate’s Vice President, Trevor Arnholt, highlighted the company’s firm conviction in the industrial sector and its enthusiasm for larger loans as part of its core-plus strategy. The strategy taps the increasing demand for flexible and dynamic financing solutions in the real estate market.

The Nuts and Bolts of the Loan

  • PGIM Real Estate’s $333 million loan to GLP demonstrates its commitment to supporting growth in the Southern California industrial real estate market.
  • The diverse financing approach, including loans for newly delivered buildings and existing projects, highlights PGIM’s adaptability in catering to client needs.
  • The Inland Empire’s thriving industrial sector continues to attract significant investment due to its strategic location and increasing demand for logistics facilities.
  • PGIM’s core-plus strategy focuses on offering larger loans, reflecting the evolving real estate financing landscape.

In a dynamic real estate market, PGIM Real Estate’s latest maneuver shows the importance of adaptability and strategic investments. As the Southern California industrial sector continues to flourish, such transactions are expected to play a vital role in shaping the region’s real estate landscape.

Stay tuned for more developments about the industry real estate market of Inland Empire.

0 Comments

Submit a Comment

Connecting you with the best startups, people & events in the Inland Empire.

Support Startup News & Media!


Enjoying the startup news & media? Support us!

We have big plans, and we need your help!

Startempire Wire is a community of people working together to promote innovation, entrepreneurship, and investment in the Inland Empire. We provide resources and connect people with the startup culture.

We believe that the Inland Empire has all of the ingredients for success. This region just needs a platform to show the world what it can do – And this is exactly what Startempirewire.com is doing. Our goal is to act as a megaphone to connect the dots between the best startups, events, and people in the Inland Empire.

We have big plans, and we need your help! If you are passionate about creating a thriving local startup ecosystem, then we would like to invite you to join in contributing to the community by supporting us. You can do that by supporting us financially or by being an active contributor. In return, we will give you (depending on sponsorship level) free access to our content, other level based perks &  the opportunity to connect with a network of passionate people working to build a better future for all of us.

We cover the good and the bad of entrepreneurship, startups & business events; we do it with passion and purpose. If you like what we do, support us & please consider becoming a patron. Your support is essential for independent local startup media to survive & thrive.

You can make a regular one time donation to become a sponsor at any level, or you can choose to become a monthly or event sponsor.  Every little bit counts! Thank You

Verious B. Smith III

Founder, Startempire Wire

Related Articles

OASIS Challenge: Showcasing Innovation in Sustainability

OASIS Challenge: Showcasing Innovation in Sustainability

RIVERSIDE, CA – The Southern California OASIS™ Challenge Pitch Finals, a much-anticipated event in the sustainability sector, is set to take place, spotlighting six innovative Inland Empire companies. These finalists, vying for $100,000 in grants and invaluable...

Stay Up On Startempire News

Access Premium Content

Startempire Wire premium content access is free during the beta period of our  website.  Join during beta and get a grandfathered discount when we launch.

$5 for first month then $15 per month

Get Every Update

Would you like to receive Startempire Wire updates in your inbox? Subscribe below!

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Follow Us

Follow Startempire Wire on other social media channels.

0
My cart
Your cart is empty.

Looks like you haven't made a choice yet.