
Three Austin Student Housing Projects Financed by PGIM
PGIM Real Estate has provided $108.5 million in fixed-rate financing on behalf of its core investment strategy to a fund managed by Morgan Stanley Real Estate Investing (MSREI) and Global Student Accommodation (GSA) for five student housing properties, three in Texas. PGIM Real Estate is a $204.4 billion real estate investment and financing business of PGIM.
The five student housing assets total 548 units with 1,619 bedspaces supporting the University of Texas at Austin, Northern Arizona University, and College of Charleston. The assets were acquired in September 2022, have been rebranded and are now managed by Yugo, GSA’s global operating partner.
The University of Texas at Austin features three midrise assets that total 175 units and 613 beds built between 2016 and 2019. These assets include Yugo Austin Corner, Yugo Austin Rio, and Yugo Austin Nueces.
- ◦Financing