PGIM Real Estate has provided $188 million in fixed-rate financing for The Blairs, a five-property multifamily portfolio owned by Tower Companies.  

The Blairs consists of five apartment communities with a total of 1,396 units located in downtown Silver Spring, Maryland. The properties are part of a master-planned community campus, and in 2012, The Blairs became the first multifamily residential campus to receive LEED Gold Certification for Operations and Maintenance.  

PGIM Real Estate, the real estate investment and financing arm of PGIM, secured fixed-rate financing on behalf of its core lending strategy. “Moving into the fourth quarter, we strongly believe in the opportunity that the multifamily industry has to offer, despite economic headwinds in the current market environment,” said Trevor Arnholt, vice president at PGIM Real Estate, who led the financing on the firm’s behalf.

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