PGIM announced that the PGIM Real Estate Fund has completed its 10th property acquisition with the purchase of The Arbor, a 127-unit housing community in the Riverdale neighborhood in the Bronx, New York, at a gross capitalization of $73.3M. The fund acquired the asset in a joint venture with Fetner Properties through a sale and leaseback with the seller, Columbia University. Beginning in July 2026, apartments are expected to be re-leased in two phases and will be operated as a residential property while it undergoes a value-add capital improvement program.
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