Pacific Urban Residential & California Public Employees' Retirement System Acquires Multifamily Property In Salem, MA For $57.5M

A multifamily property located at 190 Bridge St in Salem, MA was involved in a closed transaction on June 24, 2021. The property was acquired by Pacific Urban Residential and California Public Employees’ Retirement System, acting as the landlord. Allianz Life Insurance Co., represented by Walter White, provided the loan for this transaction, amounting to $57,500,000.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $57,500,000
• Market: Salem, MA
• Asset Type: Multifamily
• Lender: Allianz Life Insurance Co. - Walter White

In this transaction, Pacific Urban Residential and California Public Employees’ Retirement System acted as the landlord. The loan was provided by Allianz Life Insurance Co., with Walter White representing them. The transaction took place in Salem, MA, specifically at 190 Bridge St.