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PGIM Real Estate Provides $115M to Barings for Playa Vista Acquisition
PGIM Real Estate has provided $114.61 million in fixed-rate financing on behalf of its core lending strategy to Barings Real Estate for The Ventana, a multifamily property in Playa Vista. Originally built in 2007, the luxury apartments feature 405 units in a beachfront community .
“PGIM Real Estate is excited to have been able to provide the financing to Barings Real Estate for The Ventana,” said Tom Goodsite, managing director at PGIM Real Estate. “It is gratifying to see the market continue to rebound and stabilize following the lengthy volatility caused by the COVID-19 pandemic.”
He continued, “Playa Vista has notably strong multifamily housing demand due to the proximity of high-paying tech employers in Silicon Beach, and PGIM Real Estate remains committed to identifying areas of opportunity in these need-based submarkets.”
Connect Orange County will take place Sept. 27, 2023 at VEA | Newport Beach Marriott in Newport Beach, concurrently with Connect Healthcare Real Estate on Sept. 27 and 28. Click here to register for Connect Orange County, and here to register for Connect Healthcare Real Estate.
- ◦Sale/Acquisition
- ◦Financing




