PGIM Real Estate Provides $75M Refinancing Loan For 338-Unit Apartment Complex In Miami

The property in question is a 338-unit Class A apartment complex located at 6970 Southwest 40th Street in Glenvar Heights, Miami. The mixed-use property boasts various amenities and offers convenient access to Downtown Miami and local attractions.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $75,000,000
• Address: 6970 Southwest 40th Street
• Market: Miami
• Units: 338

PGIM Real Estate has secured a $75 million fixed-rate refinancing loan for the apartment complex. The loan was provided to a joint venture between AEW Capital Management, L.P. and ZOM Living. Tom Goodsite from PGIM Real Estate acted as the lender's representative in the deal, while Jeff Furber represented AEW Capital Management and Kyle Clayton represented ZOM Living. The loan terms are fixed-rate, offering stability for the joint venture.

Overall, this refinancing loan allows the joint venture between AEW Capital Management and ZOM Living to continue managing and enhancing the Class A apartment complex in Glenvar Heights, Miami.