New Seattle High Rise Linked to $295M in Green Financing
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.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.