• PGIM Real Estate Fund bought The Arbor, a 127-unit residential community in the Riverdale neighborhood of the Bronx, at a gross capitalization of USD 73.5 million.
• The deal was structured as a joint venture with Fetner Properties through a sale and leaseback with Columbia University.
• The acquisition marked the fund’s 10th property purchase, taking capital deployed to USD 260 million with gross property value above USD 632 million as of April 30, 2026.
• Apartments are expected to be re-leased in two phases beginning in July 2026 while the property undergoes a value-add capital improvement program.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. PGIM Inc. published the original content used to generate this news brief on May 20, 2026, and is solely responsible for the information contained therein.