PGIM Real Estate Provides $250 Million in Financing for Five-State, Five-Property Logistics Portfolio

PGIM Real Estate has provided $250 million in fixed-rate debt to GLP Capital Partners LP for the financing of a five-state, five-property core logistics portfolio across Atlanta, Dallas-Fort Worth, Chicago, Memphis and California’s Central Valley.

All five of the properties were acquired on behalf of GLP Capital Partners IV, a closed-end, discretionary private equity fund. The portfolio is fully leased to four nationally recognized companies, all of which are investment-grade credit tenants.

The properties, totaling 3.2 million square feet, are located within an average of one mile from each region’s primary transportation arteries, enabling tenants to efficiently service their customers, businesses and supply chains with same-day and next-day delivery.