PGIM Real Estate has closed on $295 million in designated green financing on behalf of its flagship core real estate fund in the U.S., which invests in sustainable properties that contributes to the firm’s ESG objectives. The proceeds from the loan are linked to the PGIM Real Estate’s acquisition of the West Edge apartment tower in downtown Seattle.

The 39-story, LEED-certified high rise consists of 340-units and top-of-the-line amenities, along with over 11,000 square feet of retail space. 

“The acquisition of West Edge marks another step toward fulfilling our commitment to ESG as we strive to do the right thing for our people, the environment and the communities where we invest. We will continue to invest in sustainable properties like West Edge, while creating favorable outcomes on behalf of our investors,” said Christy Hill, PGIM Real Estate’s global head of ESG and head of Americas Asset Management.