July 26, 2017

ATLANTA, July 26, 2017PGIM Real Estate has acquired Regions Plaza, a 23-story, Class A office tower in Atlanta, Georgia, on behalf of institutional investors. PGIM Real Estate is the real estate investment business of PGIM, the global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).
 
Built in 2001, Regions Plaza is a 502,846-square-foot LEED Gold- and Energy Star-certified office tower on about 1.8 acres at the northwest corner of West Peachtree and 14th streets in Midtown Atlanta. It is within walking distance to numerous restaurants and high-end condominiums, with easy access to Interstates 75 and 85, Atlanta’s primary north-south highways, and MARTA’s Arts Center Station.

 
“We are pleased to add a modern, best-in-class office high-rise in Atlanta’s premier office submarket to our investors’ portfolio,” said Alfonso Munk, Americas chief investment officer for PGIM Real Estate. “Fueled by favorable demographics and population growth in the renters’ age cohort, we expect that Midtown Atlanta will continue to grow into one of the most dynamic live-work-play environments in the region.”
 
Regions Plaza offers a full-service concierge, valet parking, conference facility, on-site Flywhee
l and FlyBarre Studio, dry-cleaning, dining and on-site banking services. These premier amenities have attracted a range of tenants including banking, sales, technology, construction and law firms. The acquisition of the property was led by Jim Mehalso, managing director and head of Atlanta-based Southeast Transactions at PGIM Real Estate.

About PGIM Real Estate
PGIM Real Estate is the real estate investment business of PGIM, the global investment management businesses of Prudential Financial, Inc. (NYSE: PRU). Redefining the real estate investing landscape since 1970, PGIM Real Estate has professionals in 18 cities in the Americas, Europe and Asia Pacific with deep local knowledge and expertise, and gross assets under management of $66.9 billion ($47.7 billion net) as of March 31, 2017. PGIM Real Estate’s tenured team offers to its global client base a broad range of real estate equity, debt and securities investment strategies that span to risk/return spectrum. For more information, visit pgimrealestate.com.

About PGIM
With 14 consecutive years of positive third-party institutional net flows, PGIM, the global asset management businesses of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world with more than $1 trillion in assets under management as of June 30, 2017. PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including fundamental equity, quantitative equity, public fixed income, private fixed income, real estate and commercial mortgages. Its businesses have offices in 16 countries across five continents.
 
Prudential’s additional businesses offer a variety of products and services, including life insurance, annuities and retirement-related services. For more information about PGIM, please visit pgim.com. For more information about Prudential, please visit news.prudential.com.         



 

Contact(s)

Brendan Duffy
Email: brendan.duffy@prudential.com
Phone: 973-802-5711