PGIM Real Estate Hits $1.3B Core-Plus, High-Yield Lending in 2021

PGIM Real Estate has provided $1.3 billion in core plus and high-yield financing this year, GlobeSt.com has learned exclusively. The milestone includes 19 transactions across the US, ranging from $12 million to $330 million in a variety of different asset classes.

“As cap rates have compressed, borrowers are increasingly seeking out core-plus and value-add real estate strategies because they see a greater ability to meet their return targets in those areas versus in the core space,” Marcia Diaz, PGIM Real Estate’s Head of U.S. Debt Originations, tells GlobeSt.com. “PGIM Real Estate has been able to respond to this borrower demand with the increased amount of capital we have available to deploy through our core-plus and high-yield products – accompanied by our increased risk appetite and ability to accommodate flexible borrower requirements.”